DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Pet Population and Ownership Trends in the U.S.: Dogs, Cats, and Other Pets, 2nd Edition" report to their offering.
The report identifies a number of demographic trends that likely will hearten marketers and retailers in the pet industry. For one thing, Millennials clearly have bought into the idea of pet ownership. Those in the 18- to 34-year-old age group already have the highest likelihood of owning a pet, while 43% of those in this key demographic cohort who do not have a pet now say they want one in the future.
Aging Boomers offer another, perhaps unexpected, bright spot for the American pet industry. A decade ago, just 34% of adults in the 70-and-over age group owned pets. In 2015 and 2016, when the leading edge of the Boomer generation began to turn 70, this percentage jumped to around 40%. If this incipient trend continues, the overall rate of pet ownership likely will increase in coming years.
Furthermore, pet ownership has become a marker of acculturation within the rapidly expanding Latino population. As second- and third-generation Hispanics continue to make up an ever growing share of the Hispanic population in the United States, the number of Hispanic pet owners likely will continue to grow exponentially.
Key Topics Covered:
1. Executive Summary
2. Insights And Opportunities
3. Dog Population And Ownership Trends
4. Cat Population And Ownership Trends
5. Pet Population And Ownership Trends: Other Pets
For more information about this report visit http://www.researchandmarkets.com/research/p7dmnk/pet_population