Table of Contents
Overview
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- What you need to know
- Definition
Executive Summary
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- Overview
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- Figure 1: Total US sales and fan chart forecast of pet care and services, at current prices, 2013-23
- State of the pet population: dogs dominate, age of pet mirrors owner’s
- Highlights
- Considerations
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- Figure 2: Age of dog/cat owned, by age of owner, March 2018
- Living situation, income shapes pet ownership
- Highlights
- Considerations
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- Figure 3: Change in living situation, financial situation to encourage pet ownership, household income, housing situation, March 2018
- What do pets mean to Americans?
- Highlights
- Considerations
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- Figure 4: Select roles of pets in our lives, by age, March 2018
- Miss Independent doesn’t need a man, but maybe a pet
- Highlights
- Considerations
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- Figure 5: Role of pets, by gender and marital status, March 2018
- Bonding and social activities present opportunities
- Highlights
- Considerations
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- Figure 6: Attitudes toward spending time with pets, participation or interest in services or products for pets – Net, by dog/cat ownership, March 2018
- Pet health concerns suggest market potential
- Highlights
- Considerations
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- Figure 7: Concerns about pet costs, usage or interest in pet health technology, by dog/cat ownership, March 2018
- What it means
The Market – What You Need to Know
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- Pet market forecast to grow at steady pace
- Vet services comprise largest share of pet spend
- Pet ownership climbing, Millennial milestones impact market
Market Size and Forecast
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- Pet market forecast to grow by 28% over next five years
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- Figure 8: Total US sales and fan chart forecast of pet care and services, at current prices, 2013-23
- Figure 9: Total US sales and forecast of pet care products and services, at current prices, 2013-23
Market Breakdown
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- Veterinary services account for majority of sales
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- Figure 10: Share of total US retail sales of pet care products and services, by segment, at current prices, 2016, 2018
Market Factors
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- Americans love their pets – pet ownership continues to climb
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- Figure 11: Number of pet-owning households, 2010-17
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- Figure 12: Number of pet-owning households, by type of pet, 2010-17
- Younger generations holding off on homeownership
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- Figure 13: Homeownership rate, by age of householder, 2017
Key Players – What You Need to Know
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- Pets out on the town, brands and business promote adoption
- Crackdown on fake service animals
- Human brands enter pet space, link between pets and mental health gaining recognition
What’s Working?
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- Pet social
- Who is doing this well?
- Adoption promotions
- Who is doing this well?
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- Figure 14: Adoptify ad: Milow, January 2018
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- Figure 15: Pedigree Adoptable Facebook Mask, October 2017
What’s Struggling?
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- Retail sales of pets
- Faux service animals
What’s Next?
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- Brands target pet owners
- What to watch?
- Pets gain more attention as mental health aid
- Haute dogs: it’s all about what goes on and in your pets
- What to watch?
- On-the-rise wedding trend: PETS!
- Pet-ertainment: fun with pets
The Consumer – What You Need to Know
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- Pet owner demographics align with traditional stereotypes
- Age reveals different motivations for pet ownership
- You’ve got a friend in me: dogs fill a familial role
- Cat and dog owners worry about unsupervised pets and costs
- The Experience Economy: don’t forget about pets
Pet Ownership and Acquisition
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- Cat and dog owners are similar
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- Figure 16: Type of pet owned, by age, gender, household income, living situation, parental status, March 2018
- Most stick to one pet in the home, pet population aging
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- Figure 17: Profile of US dogs and cats, March 2018
- Aging pet population mirrors human population
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- Figure 18: Age of dog/cat owned, by age, generation, parental status, March 2018
- Dog ownership propels breeder business
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- Figure 19: Pet acquisition, by dog/cat ownership, March 2018
Encouraging Pet Ownership
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- Pets are great company
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- Figure 20: Encouraging pet ownership, March 2018
- Younger adults consider lifestyle before getting a pet
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- Figure 21: Encouraging pet ownership, by age, March 2018
- Renters and low-income Americans have less space and money for pets
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- Figure 22: Change in living situation, financial situation to encourage pet ownership, by household income, housing situation, March 2018
Role of Pets
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- Keep calm and get a pet
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- Figure 23: Role of pets, by dog/cat/other pet ownership, March 2018
- Single women have strong emotional bond with pet
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- Figure 24: Role of pets, by gender and marital status, March 2018
- Lifestage impacts pets role in the family unit
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- Figure 25: Fitbit Charge 2 – Big Day ad
- Figure 26: Role of pets, by age, March 2018
Attitudes toward Pet Ownership
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- Owners miss their pets
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- Figure 27: Attitudes toward pet ownership, by dog/cat ownership, March 2018
- Younger adults looking to share experiences with pets
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- Figure 28: Select attitudes toward pet ownership, by age, March 2018
Pets: A Public Affair
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- Have dog, will travel: sharing experiences with pets
- Health-apps, classes should target Fido over Whiskers
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- Figure 29: Participation or interest in services or products for pets, net, by dog/cat ownership, March 2018
- Younger adults active with pets outside of the home
- Accommodating the working (pet) parent
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- Figure 30: Participation or interest in services or products for pets, net, by age, March 2018
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
Appendix – The Market
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- Figure 31: Total US sales and forecast of pet care products and services, at inflation-adjusted prices, 2013-23
- Figure 32: Total US sales and forecast of pet care product and services, by segment, at current prices, 2013-23
- Figure 33: Total US sales and forecast of pet care product and services, by segment, at current prices, 2016 and 2018
- Figure 34: Total US retail sales and forecast of pet food, at current prices, 2013-23
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- Figure 35: Total US retail sales and forecast of pet supplies, at current prices, 2013-23
- Figure 36: Total US sales and forecast of veterinary services, at current prices, 2013-23
- Figure 37: Total US sales and forecast of pet services, at current prices, 2013-23
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Appendix – The Consumer
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- Figure 38: Summary of bases for pet ownership, October 2009-November 2017
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