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American Pet Products estimates that in the United States alone last year, homeowners spent more than $72 billion within the pet industry. This includes money spent on pet food, pet supplies, over-the-counter medications for pets, veterinarian care, the purchase of live animals for use as pets and a category dubbed “other” by the American Pet Products Association that takes in just about anything else you might need to spend in order to own and adequately support a pet. While this seems like an unfathomable amount, it’s become more evident in the past decade that people are treating their pets like—well, more like people. The statistics don’t lie.
Types of Pets Americans Own
Several kinds of pets lead the pack when it comes to the pet industry. These are the most popular types when it comes to spending money in the categories above. According to the Insurance Information Institute, approximately 85 million households within the U.S. own at least one pet. Of those, more than 60 million own a dog, 47.1 million have a cat, 12.5 million have freshwater fish, 7.9 million have a bird, 6.7 million have a small animal (categorized as a gerbil, hamster, etc.) 4.7 million own a reptile, 2.6 million have one or more horses and 2.5 million have saltwater fish. When you add in the costs of pet food, supplies, medications, veterinarian care and more to the cost of purchasing each of these pets, the price can certainly add up. Try multiplying that by approximately 85 million households.
Culture Helps Pet Industry Soar
While some might expect social media and online shopping to make it easier to own a pet, Forbes reports a different component is at play. While you can buy your pet food, pet meds, dog beds, cat toys and gerbil cages online and have them delivered directly to your doorstep, it seems cultural changes are determining what pet owners want now—as opposed to a couple of decades ago—for their pets. Those changes are broken down into the following eight categories:
Pet food: Traditional pet foods are a thing of the past. Gone are the days when pet owners run to the grocery store for a bag of dog food or a few cans of the same cat food they’ve seen advertised since childhood. These days consumers want to know what’s in their pet’s food and they want to feed them healthier options. Healthier meals means consumers are also paying more for now.
Pet treats: In the same manner as the pet food, consumers also want healthier treats for their pets.
Private brands: Some online retailers are now marketing their private brands of pet food and treats. Add that to their delivery straight to the pet owner’s door and that spells a win-win not only for their pets, but for consumers and the pet industry.
Technology: Who would have thought just 20 years ago that you could tap an app or text a business via your smartphone and someone would show up to walk your dog, feed your cat, clean the litter box, swab out your lizard’s aquarium or scoop the dog poop from your yard? You can do all the above—and more—and pet owners love it.
New and extra services: While poop scooping is something many people don’t even know exists, there are a number of other pet services. These days, someone can pick up your pet and bring him or her to a veterinarian appointment, the groomer or a playgroup. Yes, there are pet playgroups, too, as well as pet hotels and places akin to car washes where you bring your dogs and wash them yourself.
End-of-life services: There’s been a massive increase in the number of services marketed to pet owners at the end of their pet’s lives. Much the same as with terminally ill humans, there are palliative care services available now for terminally ill pets. There are pet cemeteries, cremation services, colored boxes and urns for containing pet remains and believe it or not, there’s even grief counseling available in some areas of the U.S. All of these services are costly and...
Types of Pets Americans Own
Several kinds of pets lead the pack when it comes to the pet industry. These are the most popular types when it comes to spending money in the categories above. According to the Insurance Information Institute, approximately 85 million households within the U.S. own at least one pet. Of those, more than 60 million own a dog, 47.1 million have a cat, 12.5 million have freshwater fish, 7.9 million have a bird, 6.7 million have a small animal (categorized as a gerbil, hamster, etc.) 4.7 million own a reptile, 2.6 million have one or more horses and 2.5 million have saltwater fish. When you add in the costs of pet food, supplies, medications, veterinarian care and more to the cost of purchasing each of these pets, the price can certainly add up. Try multiplying that by approximately 85 million households.
Culture Helps Pet Industry Soar
While some might expect social media and online shopping to make it easier to own a pet, Forbes reports a different component is at play. While you can buy your pet food, pet meds, dog beds, cat toys and gerbil cages online and have them delivered directly to your doorstep, it seems cultural changes are determining what pet owners want now—as opposed to a couple of decades ago—for their pets. Those changes are broken down into the following eight categories:
Pet food: Traditional pet foods are a thing of the past. Gone are the days when pet owners run to the grocery store for a bag of dog food or a few cans of the same cat food they’ve seen advertised since childhood. These days consumers want to know what’s in their pet’s food and they want to feed them healthier options. Healthier meals means consumers are also paying more for now.
Pet treats: In the same manner as the pet food, consumers also want healthier treats for their pets.
Private brands: Some online retailers are now marketing their private brands of pet food and treats. Add that to their delivery straight to the pet owner’s door and that spells a win-win not only for their pets, but for consumers and the pet industry.
Technology: Who would have thought just 20 years ago that you could tap an app or text a business via your smartphone and someone would show up to walk your dog, feed your cat, clean the litter box, swab out your lizard’s aquarium or scoop the dog poop from your yard? You can do all the above—and more—and pet owners love it.
New and extra services: While poop scooping is something many people don’t even know exists, there are a number of other pet services. These days, someone can pick up your pet and bring him or her to a veterinarian appointment, the groomer or a playgroup. Yes, there are pet playgroups, too, as well as pet hotels and places akin to car washes where you bring your dogs and wash them yourself.
End-of-life services: There’s been a massive increase in the number of services marketed to pet owners at the end of their pet’s lives. Much the same as with terminally ill humans, there are palliative care services available now for terminally ill pets. There are pet cemeteries, cremation services, colored boxes and urns for containing pet remains and believe it or not, there’s even grief counseling available in some areas of the U.S. All of these services are costly and...
