Albany, NY -- (SBWire) -- 10/10/2014 --Americans love their pets to the tune of more than $54 billion a year. For many, the household pet is member of the family like any other. Yet, the cost of ownership is rising at the same time that families have increasing financial responsibilities and burdens. Marketers that figure out how to enable pets to be pampered without breaking the bank should see success.
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Table of Content
Scope and Themes
What you need to know
Definition
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
Executive Summary
The pet market is estimated at $54.5 billion in 2014
Figure 1: Total US retail sales and fan chart forecast of the pet market at current prices,with best and worst case scenarios, 2009-19
Pet food and veterinary services are the two largest market segments
Figure 2: Sales of pets, pet products, supplies, and services, segmented by type, 2014
Market drivers
The consumer
Pets are a part of the quintessential family unit
Figure 3: Household pet ownership, July 2014
Most adults plan to have a pet
Figure 4: Plans for pets in the future, by pets while growing up, July 2014
Responsibility and expense are barriers to pet ownership
Figure 5: Top reasons for not having pets, July 2014
Pet owners want the best for their animals
Figure 6: Attitudes toward pet’s holistic health, July 2014
Most adults agree pets should be micro-chipped
Figure 7: Attitudes toward tech assistance for pet care, July 2014
Four in 10 kids take care of a pet in the household most of the time
Figure 8: Kids responsible for taking care of a pet, by gender, November 2012-December 2013
Hispanics embrace pet ownership
Figure 9: Household pet ownership, by race/Hispanic origin, July 2014
What we think
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Issues and Insights
Are there any limits on what pet owners will do for (or spend on) their pets?
The issues:
The implications:
Do pet owners welcome tech connections?
The issues:
The implications:
How important are Hispanics to future growth in the market?
The issues:
The implications:
Trend Application
Trend: Click and Connect
Trend: Second Skin
Trend: Mood to Order
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Americas Pet Owners in US 2014 Market Research Report
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