Read time: 4 minutes Greetings Pet Enthusiasts! 🙂 Dive into today’s most intriguing US pet industry news.
1. Pet Ownership Returns to Pre-Pandemic Levels
In a Nutshell: The latest APPA survey shows that while pet ownership surged during the pandemic, it has since returned to more stable pre-pandemic levels. Around 63% of US households currently own pets, compared to the pandemic peak of 70%. Notably, dog ownership has increased to 44% (up from 39% in 2010), while cat ownership has seen a slight decline to 30%. One of the major factors influencing this stabilization is the high cost of pet care. Veterinary costs for dogs, especially for surgical visits, have soared, averaging around $624 per visit, up from $458 in 2010. Boarding costs have also nearly doubled, adding to the financial burden.
Enthusiasts Takeaway: Pet ownership is returning to pre-pandemic norms, but the associated costs are rising sharply, which may impact future adoption rates. Pet parents need to be prepared for these expenses, especially for dogs, where vet care is becoming significantly more expensive. However, the rise in dog ownership suggests that dogs are increasingly seen as essential companions.
2. American Pet Products Association’s Fish and Reptile Insight Report Released
In a Nutshell: The APPA’s new insights into fish and reptile pet ownership show fascinating shifts in purchasing habits and emotional bonds. Despite the dominance of e-commerce in many sectors, fish and reptile owners prefer in-store shopping for pet-related products. Additionally, a growing emotional connection is evident, with 61% of reptile owners and 49% of fish owners including their pets in their wills. There’s also an increasing focus on health, with more owners purchasing medications, vitamins, and supplements for their aquatic and reptile friends.
Enthusiasts Takeaway: Pet care trends are evolving beyond cats and dogs. Owners of fish and reptiles are now spending more on health-related products, reflecting their deeper connection to their pets. This growth in wellness products represents an emerging market, with more focus on medications, supplements, and even memorial items. If you’re a pet product retailer, catering to this growing niche could be a big opportunity.
3. US Pet Industry Market Growth
In a Nutshell: The US pet industry is on a fast track to reach $103 billion by 2029, thanks to rapid innovations in pet health, food, and wellness. Companies like Mars Inc., Nestlé Purina, and Colgate-Palmolive are leading the way by investing in product development and acquisitions. The demand for premium pet food and healthcare products is driving growth, and new trends like personalized pet nutrition, smart pet technologies, and sustainable pet products are emerging as key drivers.
Enthusiasts Takeaway: The pet industry is becoming more competitive and diversified, with major players vying for market share. Pet owners can expect to see new and innovative products, particularly in health and nutrition. But, as companies continue to develop premium offerings, the cost of these products might rise, impacting your budget for pet care. Keeping up with these trends is essential, especially if you’re a pet business owner or marketer.
4. Pet Obesity Concerns on the Rise
In a Nutshell: Obesity among pets in the US has reached worrying levels, particularly for cats. Studies reveal that 25% of dogs and nearly 30% of cats are now considered overweight, a significant increase over the last 15 years. Owners often underestimate their pet’s weight, and this misjudgment can lead to long-term health problems. Obesity-related issues such as diabetes, heart disease, and arthritis are becoming more common in pets, adding to healthcare costs and impacting their quality of life.
Enthusiasts Takeaway: Addressing pet obesity should be a top priority for pet owners. Maintaining a healthy diet, ensuring regular exercise, and monitoring weight are key steps to keeping pets healthy. Additionally, if you’re a pet service provider or a vet, helping educate pet owners about healthy habits and proper portion control can make a big difference in tackling this issue.
5. Wag and Rover Pet Care Apps See Rising Popularity
In a Nutshell: With the return to office work and increased travel, apps like Wag and Rover, which offer on-demand pet care services such as walking and pet sitting, have seen a sharp rise in popularity. Usage of these apps has grown from 13% to 17% in just two years, reflecting a greater need for flexible and convenient pet care solutions. Many dog owners are adjusting travel plans to accommodate their pets, with 47% taking their dogs along on trips lasting two or more nights.
Enthusiasts Takeaway: As more people return to pre-pandemic lifestyles, the demand for convenient pet care solutions is surging. Apps like Wag and Rover provide much-needed flexibility for busy pet parents, and this trend is likely to continue growing. For those in the pet care industry, partnering with or offering similar services could provide a great opportunity to meet the rising demand.
Enthusiasts Quirky Corner:
Today’s Enthusiasts tagline: “Paws for Love, Play for Life!”
Stay Enthusiastic!
Best,
Rocky
