Table of Contents
Executive Summary
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- Top takeaways
- Market overview
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- Figure 1: Total US retail sales and forecast of pet care products and services, at current prices, 2015-25
- Figure 2: Table of total US sales and forecast of pet care products and services, at current prices, 2015-25
- Impact of COVID-19 on pet owners
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- Figure 3: Short-, medium- and long-term impact of COVID-19 on the pet care products and services market, September 2020
- Opportunities and challenges
- Pets are helping their owners endure the pandemic
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- Figure 4: Changes in pet owner behavior since the COVID-19 pandemic began, April 2020
- Pet service providers suffer losses this year, but expected to rebound in years to come
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- Figure 5: Paid pet-related services, April 2020
- Pet owners are willing to spend on their pets’ health
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- Figure 6: Attitudes about limits on spending for pet’s healthcare, April 2020
- What it means
The Market – Key Takeaways
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- Pet care products and services market crosses $100 billion threshold
- Uneven impact of pandemic across pet segments
- COVID-19 gives owners and pets more time together
- Mintel’s Global Trend Drivers illuminate opportunities in the market
Market Size and Forecast
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- Gradual growth expected despite some disruption
- The 2020 market
- Five-year forecast
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- Figure 7: Total US retail sales and forecast of pet care products and services, at current prices, 2015-25
- Figure 8: Table of total US sales and forecast of pet care products and services, at current prices, 2015-25
- Macroeconomic indicators
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- Figure 9: July 2020 baseline annual forecast for US GDP and PCE, 2020-30
- Figure 10: Unemployment rate, among civilians aged 16+, 2017-30
Segment Performance
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- Uneven growth across segments, as owners scale back spending
- Veterinary care
- Pet services
- Pet food
- Pet supplies
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- Figure 11: Total US sales and forecast of pet care products and services, by segment, at current prices, 2019-21
Impact of COVID-19 on Pet Owners
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- Figure 12: Short-, medium- and long-term impact of COVID-19 on the pet care products and services market, September 2020
- Lockdown: March to June 2020
- Surge in demand for pet dogs fuels purchases and adoptions
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- Figure 13: Number of US households with pets, Spring 2014-20
- Owners’ bond with pets strengthens
- Cat owners stock up
- Pandemic calls attention to pets’ health
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- Figure 14: Changes in pet owner behavior since the COVID-19 pandemic began, April 2020
- Lockdown impacts consumers and service providers
- Re-emergence: July 2020 to December 2021
- Both owners and pets face separation issues
- Recovery: 2022 to 2025
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Learnings from the Last Recession
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- Potential for pet acquisition to stall
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- Figure 15: Number of US households, total and with pets, Spring 2008-13
- Consumers’ recessionary cutbacks unlikely to impact pet spending
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- Figure 16: Total US retail sales of pets and related supplies/services, at 2013 prices, 2007-12
Market Opportunities
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- Mintel’s Trend Drivers
- Pets are beneficial to owners’ wellbeing
- Nearly all owners acknowledge pets’ impact on their psychological wellbeing
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- Figure 17: Agreement that pets help their owners stay calm during stressful times, April 2020
- Dogs can also benefit owners’ physical fitness
- Technology offers helpful tools for pet parents
- Dog owners respond well to digital tools, cat owners could too
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- Figure 18: Digital tools and services used by dog and cat owners, April 2020
- Pet ownership can play a significant role in personal Identity
- Pets bring owners together in virtual and in-person communities
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- Figure 19: Posts from Facebook group for Chicago-area pet adopters, September 2020
- Apparel and accessories for pets enable owners’ self-expression
- Bold brands have opportunities to represent issues that matter to owners
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- Figure 20: Black Lives Matter dog bandana and collar, September 2020
Companies and Brands – Key Takeaways
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- Owners are more than just owners
- Pets’ appeal can benefit brands both in and outside of the pet market
- Service providers will need to add value to entice owners
Competitive Strategies
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- Brands recognize pet owners’ desire for self-expression
- Petco has pride
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- Figure 21: Gay pride supplies for dogs, September 2020
- Raw Threads recognizes runners who are dog parents
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- Figure 22: Dog-related running apparel, September 2020
- Using adoption as a CSR effort
- Subaru continues its commitment to shelter pets
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- Figure 23: 2020 Subaru Loves Pets, July 2020
- Pizza, beer and pets
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- Figure 24: Dog adoption flier attached to a pizza box, March 2020
- Offering owners greater value
- Mobile pet grooming services
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- Figure 25: Doggie Glam Mobile Pet Grooming Video, January 2013
- Pet insurance plus
- Making the cost of veterinary care less daunting
The Consumer – Key Takeaways
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- Most pet owners are dog owners
- Pet stores are out, animal adoptions are in
- Pet parents feel invested in their pets’ emotional wellbeing
- Dogs drive the pet services market
- Opportunities to cater to pet owners exist within the financial industry
Pet Owner Profiles
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- Pet ownership is a widely shared experience
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- Figure 26: Pet ownership, April 2020
- Dogs, America’s favorite pets
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- Figure 27: Types of “other” pets owned, April 2020
- Tepid interest in owning exotic pets
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- Figure 28: Interest in unusual/exotic pets, April 2020
- More than a third of all dog owners are multicultural adults
- Spotlight: pets and Lunar New Year
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- Figure 29: Rubies Lunar New Year Pet Costume, October 2020
- Cat owners more likely than dog owners to have multiple pets
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- Figure 30: Demographic summary of dog owners, April 2020
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- Figure 31: Demographic summary of cat owners, April 2020
Pet Acquisition
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- Pet parents are drawn to shelters and rescue organizations
- Some cats adopt their owners
- Dog owners more likely than cat owners to rely on breeders
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- Figure 32: How pet owners acquired their most recent pet, April 2020
Pet Owner Attitudes
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- Pet owners feel a strong sense of responsibility for their pets’ happiness
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- Figure 33: Agreement about owner’s responsibility for pet’s happiness, April 2020
- Most owners enjoy spoiling their pets
- Pet owners are willing to investigate to find their best options
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- Figure 34: Attitudes toward spoiling pets, April 2020
- Human food is an important part of pampering pets
- Dog owners suffer more guilt
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- Figure 35: Owners’ attitudes toward spending time with pets, April 2020
Pet Services
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- Vet visits are a crucial part of pet ownership
- Dogs drive the pet service industry
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- Figure 36: Paid dog-related services, April 2020
- Pandemic has potential to fuel in-home services
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- Figure 37: Location of paid dog-related services, April 2020
- Room for growth in the in-home cat sitter space
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- Figure 38: Paid cat-related services, April 2020
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- Figure 39: Location of paid cat-related services, April 2020
- Opportunities for home grooming products among cat owners
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- Figure 40: Interest in doing basic grooming at home, April 2020
Veterinary Care
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- Preventive care inspires most vet visits
- Demand for televet services may increase
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- Figure 41: Types of veterinary care, April 2020
- Straight from the dog owner’s mouth
- Opportunities to address unique health needs of dogs and cats
- Dogs and their bones
- They’re called fat cats for a reason
- Cats may be suffering in silence
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- Figure 42: Cat and dog health conditions, April 2020
Paying for Pets
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- In their words: pet owners reflect on financial hardship
- Owners are willing to pay for their pet’s healthcare, but resist insurance
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- Figure 43: Share of cat and dog owners with pet insurance, April 2020
- Dog owners are more willing to spend and go into debt for pet bills
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- Figure 44: Attitudes about limits on spending for pet’s healthcare, April 2020
- Emotions often guide life or death decisions
Appendix – Data Sources and Abbreviations
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- Data sources
- Forecast
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
Appendix – The Market
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- Figure 45: Total US retail sales and forecast of pet care products and services, at inflation-adjusted prices, 2015-25
- Figure 46: Total US sales and forecast of pet care products and services, at inflation-adjusted prices, 2015-25
- Figure 47: Total US sales and forecast of pet care products and services, by segment, at current prices, 2015-25
- Figure 48: Total US sales and forecast of veterinary services, at current prices, 2015-25
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- Figure 49: Total US sales and forecast of veterinary services, at inflation-adjusted prices, 2015-25
- Figure 50: Total US sales and forecast of pet services, at current prices, 2015-25
- Figure 51: Total US sales and forecast of pet services, at inflation-adjusted prices, 2015-25
- Figure 52: Estimated number of US households with pets, in millions, 2008-20
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- Figure 53: Estimated number of US households with cats and with dogs, in millions, Spring 2008-20
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Appendix – The Consumer
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- Figure 54: Barriers to pet ownership, April 2020
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- Figure 55: Annual income among dog and cat owners, April 2020
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