Table of Contents
Overview
-
- What you need to know
- Definition
Executive Summary
-
- The issues
- Barriers to pet ownership shaped by income differences
-
- Figure 1: Top barriers to pet ownership, by household income, April 2017
- Men less likely to be won-over by adoption appeals
-
- Figure 2: Top qualities of a potential pet, April 2017
- Pet insurance not seen as a “must have” for aging pets
-
- Figure 3: Dog owners’ attitudes toward pet insurance, by age of dog, April 2017
- The opportunities
- Parents a key target for pet services
-
- Figure 4: Pets’ role in the household – Select items, by parental status, April 2017
- Pet-related causes have wide appeal
-
- Figure 5: Attitudes toward pet charities and entertainment, April 2017
- Preventative care is a growing opportunity
-
- Figure 6: Interest in select pet services, April 2017
- What it means
The Market – What You Need to Know
-
- Pet market experiences strong growth
- Future growth fueled by pet indulgence
- Vet services comprise largest share of pet market
- Growth in supplies and services highlight desire for human-quality amenities
- Acquisition bolsters pet retailers, while animal entertainment takes a dive
- Room for pet health insurance to grow
- Millennials to drive pet market forward
Market Size and Forecast
-
- Pet market continues to grow at above-average pace
-
- Figure 7: Total US retail sales and fan chart forecast of pet products and services, at current prices, 2012-22
- Figure 8: Total US retail sales and forecast of pet care products and services, at current prices, 2012-22
Market Breakdown
-
- Vet services makes up the largest segment in the market
-
- Figure 9: Total US retail sales of pet care products and services, by segment, at current prices, 2013, 2015, 2017
- Substantial growth seen in all pet segments
-
- Figure 10: Forecast US retail sales of pet products and services, by segment, at current prices, 2017-22
Market Perspective
-
- PetSmart and Petco plan for the future through acquisitions
- Ringling Bros folds up the tent, SeaWorld changes course
- Pet food follows human food trends
- Owners more willing to stop in-store if they can bring a pet
- Pet insurance market
-
- Figure 11: Farmers Insurance Group acquisition email, May 2017
- Figure 12: United States Fire Insurance Company/ASPCA Pet Insurance email, April 2017
-
- Figure 13: Nationwide pet insurance refer a friend email, June 2017
Market Factors
-
- Millennials embrace pet ownership
-
- Figure 14: Type of pet owned, by generation, April 2017
- Homeownership for younger generations yet to get off the ground
-
- Figure 15: Homeownership rate, by age of householder, 2016
- Family households shrinking in share of total
-
- Figure 16: Family and nonfamily households, as a percentage of total households, 2006-16
Key Trends – What You Need to Know
-
- Animal ads bring attention to seemingly unrelated industries
- Pets take comfort with human-quality amenities
- Expectations for animal welfare are climbing
- Call for continued consumer education around dog behavior
- Pets provide relief for owners with chronic conditions
Positive Trends
-
- Brands boost perceptions with pet-focused ads
-
- Figure 17: U.S. Bank: The Power of Possible – The Escape:60, January 2017
-
- Figure 18: Somebody to Love (:60) – 2017 Coldwell Banker TV Commercial, March 2017
- Figure 19: Topher Brophy – 12 Min of Same Trailer, May 2017
- People products for pets
- Pets enjoy new travel perks
- Brands look for new ways to support pet ownership
Negative Trends
-
- When the bite is worse than the bark
- Not all dogs are fit to be running buddies
- Unprepared pet owners may find themselves in over their heads
- Americans gone wild
Up-and-coming Trends
-
- Animal welfare continues to concern consumers
-
- Figure 20: Percent change in the number of vegan claims in new food product launches in the US, 2014-16
- Subscription model helps to heal pet relationship with mail carriers
- Pets play a role in patient care
- Pets take center stage
The Consumer – What You Need to Know
-
- Interest in dogs is growing pet ownership
- Lifestyle concerns keep some households animal-free
- Adoption is a key consideration when choosing a pet
- Improving pet health is top of mind for owners
- Pets’ presence is their present
- Pet health is not a DIY initiative
Pet Ownership and Acquisition
-
- Pet ownership grows slowly
-
- Figure 21: Number of pet owning households, 2006-16
- Growth comes mostly from dog ownership
-
- Figure 22: Number of households who own pets, by pet type, 2006-16
- Dogs continue as Americans’ preferred pets
-
- Figure 23: Type of pet owned, April 2017
- Parents choose dogs over cats
-
- Figure 24: Profile of dog and cat owners, by key demographics, April 2017
- Dog ownership drives breeder business
-
- Figure 25: Pet acquisition, by dog/cat ownership, April 2017
- A dog, and a pickup truck to put him in
-
- Figure 26: Major life events, April 2017
Barriers to Pet Ownership
-
- Pets may cramp your style
-
- Figure 27: Barriers to pet ownership, April 2017
- Lifestyle issues more likely to constrain adults 55+
-
- Figure 28: Barriers to pet ownership, by age, April 2017
- Residence type limits low-income adults
-
- Figure 29: Barriers to pet ownership, by household income, April 2017
Getting a New Pet
-
- A preference for adoption trumps other traits
-
- Figure 30: Qualities of a potential pet, April 2017
- In their own words
- Shelters should emphasize pet size and breed for increased adoption
-
- Figure 31: TURF Analysis – Getting a new pet, April 2017
- Methodology
-
- Figure 32: Table – TURF Analysis – Getting a new pet, April 2017
- Adoption appeals more to women
-
- Figure 33: Qualities of a potential pet, April 2017
- Parents a bit more particular
-
- Figure 34: Qualities of a potential pet – Select items, by parental status, April 2017
- Black pet owners want to be assured of good behavior
-
- Figure 35: Qualities of a potential pet – Select items, by race, April 2017
Interest in Pet Services
-
- Pet health is a top priority for owners
- In their own words
-
- Figure 36: Interest in pet services, April 2017
- Pet services more applicable for dog owners
- In their own words
-
- Figure 37: Interest in pet services – Select items, by type of pet owned, April 2017
- Young owners focus on pet health
-
- Figure 38: Interest in pet services – Select items, by age, April 2017
- Young parents take their pets along
-
- Figure 39: Interest in pet services – Select items, by age of children, April 2017
Pets in the Family
-
- Pets provide positivity
-
- Figure 40: Puppyhood: Newlyweds get “Test Baby” Puppy | Purina Puppy Chow, December 2016
- Figure 41: Pets’ role in the household, April 2017
- Women have a stronger emotional attachment to their pets
-
- Figure 42: Pets’ role in the household – Positive traits, by gender, April 2017
- Parents looking for pet problem solvers
-
- Figure 43: Pets’ role in the household – Select items, by parental status, April 2017
- In their own words
- Dogs are part of the family, while cats do their own thing
-
- Figure 44: Pets’ role in the household – Select items, by type of pet owned, April 2017
Attitudes toward Pet Health
-
- Owners are in favor of preventative care for pets
- In their own words
-
- Figure 45: Attitudes toward pet health, April 2017
- Even low-income pet owners invest in their pet’s health
-
- Figure 46: Attitudes toward pet health, by household income, April 2017
- Pet insurance perceived as a greater benefit for young dogs
-
- Figure 47: Dog owners’ attitudes toward pet insurance/treatment, by age of dog, April 2017
Attitudes toward Pet Related Entertainment
-
- Pet-related entertainment is a win
-
- Figure 48: Attitudes toward pet charities and entertainment, April 2017
- Pet store shoppers are engaged owners
-
- Figure 49: Attitudes toward pet related activities, by pet acquisition source, April 2017
Appendix – Data Sources and Abbreviations
-
- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Consumer qualitative research
- Direct marketing creative
- Abbreviations
- Terms
Appendix – The Market
-
-
- Figure 50: Total US retail sales and forecast of pet care products and services, at current prices, 2012-22
- Figure 51: Total US retail sales and forecast of pet care products and services, at inflation-adjusted prices, 2012-22
-
Appendix – The Consumer
-
-
- Figure 52: Share of pet owning households, October 2006-November 2016
-
- Figure 53: Share of households who own pets, by pet type, 2006-16
-
Back to top