Prepared for Mike S. | Delivered December 11, 2019
Millennial Pet-Care Market
To find the US market size for the millennial pet-care market, average spend, projected growth, key areas of spend, as well as insights into how millennial pet owners are different than older pet owners in their beliefs/attitudes/practices/spend.
Millennial Pet Ownership
According to The American Pet Products Association (APPA),
85 million households
in the United States have a pet. Over the last 30 years, pet ownership increased from
56% to 68%
of all households.
of pet owners are baby boomers, "households headed by younger cohorts account for
of pet ownership."
The millennial generation was responsible for
of the growth in the number of pet owners in the United States between 2007 and 2015.
In 2015, the number of millennial pet owners in the United States was
, accounting for
one in three
As of 2014, "households headed by Millennial consumers spent a total of
on their pets."
"Millennials continue to be the
largest pet-owning demographic
." The millennial generation is "
willing to pay more
for quality products and services to improve the health and well-being of their pets."
Pet Care Industry Market
The pet care industry in North American sales expected to increase from
in 2018 to reach
In the United States, the veterinary care market size is
"Overall spending in the U.S. pet industry is estimated to top
in 2019, a record high and a year-over-year increase of
U.S. Pet Industry Spending
The total pet industry expenditures increased from
in 2018 to
Live animal purchases:
812 assignments | 5.0