· from premium food choices to celebrating pet birthdays, the modern pet parent is willing to invest more time and money into their pet ’s well-being. I remember researching this pet industry statistic in 2022, when it reached over $136. 8 billion, and thinking, ‘this can’t be right. A majority of pet owners see pets as family members and are treated as such. There’s nowhere to go but up for the pet industry. This number fluctuates depending on the pet’s particular diet (organic, store-bought, raw, etc. ), but this is the average. The global pet-sitting market size in 2023 was $2. 67 billion. According to ypulse, 51% of millennial pet owners bought their pets a toy in the past 6 months. This growth can be attributed to the increasing demand for high-quality and specialized veterinary care services, including preventive care, diagnostics, and treatments for a wide range of pet health conditions. The pet insurance industry has reached $4. 08 billion, according to the global pet insurance report of 2023. In 2023, a total of $147 billion was the actual sale in the u. s. More than 66% of us owners have at least one pet. · the cat’s out of the bag and pets are now officially part of the family. (in millions) 1. The market for organic pet food is valued at approximately $2,318. 5 million. Dogs tend to require more resources, care and maintenance than cats, which also took the top spot among preferences for future pets. Sixty-five (65) percent of 18-34-year-olds plan to get another pet in the next five years. It is projected to grow from $246. 66 billion in 2023to $368. 88 billion by 2030. · this shift was marked by the inaugural pet fashion show held in new york, which heralded the entry of pet clothing into mainstream stores. The pet accessory market is booming. During covid-19, 8% of adults adopted pets. They buy brushes, otc ear medication, shampoo, and the like to do the job. This can be attributed to their delayed marriage and parenthood, higher disposable income, and tendency to view pets as family members. Over two in fivemillennial pet owners aged 16-34 view their pets as their children, and an equal number report that spending more time at home has strengthened their bond with their pets. As we watch it grow exponentially, there appears to be no ceiling for the pet industry. A significant portion of peoplechooses to groom their pets themselves. And the number continues to increase rapidly. The aspcaoffers several tips to help you save money on your pet’s health care. In 2018, pet industry expenditures totaled 90. 5 million annually, derived from a morgan stanley research report. Americans buy halloween costumes worth $490 million for their pets annually. In 2022, the us pet industry reached $136. 8 billion. People want to make sure their pets are comfortable, and spending money on them is one way to do it. In 2023, a total of $147 billion in sales was reported in the u. s. , which is projected to increase to $150. 6 billion in 2024. Mintel looks at how the latest pet ownership trends are impacting the pet care industry. Exactly $73. 00. 5. 7 million households own a reptile. Consumer spending is expected to reach 275 billion b. The global pet market industry valued at $235. 32 billion in 2022 and crossed $246. 66 billion in 2023 Millennials are three times more likely to own pets than to have children. And it is expected to reach $7. 5 billion in 2028. Here is a breakdown of animals and the number of people who own them in the us. Here are some more interesting facts about pet industry statistics in the us: · the rise of pet spas, pet hotels, and even pet-specific airlines exemplifies the luxury segment of this market. The pet insurance industry is forecasted to grow to usd 8. 46 billionby 2029 from usd 4. 61 billion in 2024, according to the global pet insurance report. Pet fashion has become a highly lucrative industry that have witnessed a significant expansion with famous designers creating couture clothes for dogs and cats. Each dog grooming session costs $60-$90. Annually, americans spend around half a billion dollarson halloween costumes for their pets. Millennial pet owners buy the most gifts for their pets and spend the most per gift. 68% of white adults own a pet But what’s driving this trend, and how is it shaping the future of pet care? I need to dig deeper. ’ i dug, and it is correct. The pet sitting market is on track to hit $3. 94 billion by 2027, growing at a 10. 26% annual rate, and covers services like feeding, exercise, and medication for pets. Dog and cat owners are inclined to buy premiumfoods for their pets. Almost half of america wants to know if their pet is eating the best there is to buy. An average of $50 to $600 is spent yearly by dog owners for dog grooming. This generation loves their “children. ” (source) Survey, dog owners reported an average annual spend of $442 on pet foodin 2020, while cat owners spent about $329 per year. According to pet food industry analysis, both cat and dog owners spend around $300 annually on food and treat sales. I think i’ll go dressed as a cat lady next year. Imarc group forecasts that by 2032, this pet food market will grow to $5,458. 3 million, with a cagr of 9. 68% from 2024 to 2032. Millennials have the highest pet ownership rate compared to other generations. 24% of gen xers — born between 1965 and 1981 — own pets. Just take a peek at facebook and instagram, and this statistic will really make sense. 25. 8% of pet expenses are dedicated to veterinary care and products And our popular petsdon’t only consist of cats and dogs. Americans spend $1,149 on their dogs and $1,391 on their cats per year. The costreflects the dedication and skill required to maintain the dog’s cleanliness, health, and overall appearance. · while pet ownership has stayed fairly consistent at 69% compared with the previous survey, cat owners increased while dog owners declined. This statistic shows that several other age groups were responsible for pet adoptionin 2020. As responsible pet parents, we are obligated to care for our furry friends through both sickness and health. Investment banking companies predict that millennials will increase pet ownership by 14% by 2030. These services cater to both the comfort of the pets and the peace of mind of their owners, especially those who travel frequently. 68% of whiteand 66% of hispanic adults have pets , while only 37% of asian and 34% of black adults are pet owners. As per stats of appa, 66% of us owners have at least one pet. 43% of dog owners and 41% of cat owners buy premium food for their pets. The children of pet parents (gen x and baby boomers) cranked it up and are at the top of many pet ownership statistics. This indicates that this generation values their pets as family members more than ever before. By generation, millennials have the highest percentage of pet ownership. A pet’s love, loyalty, and devotion can’t be denied, and people recognize it. My best friend ’s dog was just groomed. Freshwater fish 11. 1 6. The global pet-sitting market size in 2023 is expected to be $2. 67 billion. The value of pet tech market in 2022 was $5 billion and is expected to increase by 15% cagr from 2023 to 2032. See full list on worldanimalfoundation. org The expected value in 2032 will cross $35 billion. Moreover, gia asserted that “ the global pet industry is considered one of the fastest-growing market segments. ” even in times of poor economies, the pet industry trends don’t seem to notice. According to global industry analysts, in 2022, the global pet market was valued at $261 billion. Households own non-cat or non-dog pets. “quality,” “health & nutrition,” and “ingredients” are the three most important purchasing criteria for premium pet food purchasers, well ahead of price, according to our survey.

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