Millennial pet ownership has surpassed baby boomers, according to a December 2017 Packaged Facts report on pet food in the U.S. The report also states that millennials account for 35 percent of all pet owners. Approximately 66.8 million households, which is more than half of U.S. households at 54.6 percent, owned pets in 2017.
Source: Petfood Industry, March 8, 2018. (paywall)
The fluctuation and diversity among pet ownership demographic segments will continue to create new challenges and opportunities for marketers and professionals. The trends show millennials are spending more on their pets while delaying parenthood and not being as interested in house or auto ownership.
Pet Ownership by Generation (2017)
- Millennials: 35 percent
- Baby boomers: 32 percent
- Other age groups: 33 percent
Pet Ownership by Ethnicity (2017)
- Caucasian: 70 percent
- Hispanic: 69 percent
- African American: 44 percent
- Asian: 43 percent
Millennial Pet Ownership by Gender (2017)
- Men who own dogs: 71 percent
- Women who own dogs: 62 percent
- Men who own cats: 48 percent
- Women who own cats: 35 percent
Also see: 3 keys to Gen Z and millennial pet food marketing, Petfood Industry, March 19, 2018.
INSIGHTS: Tending dogs and cats affects, or perhaps substitutes for more traditional behaviors. Animal health pros must understand these data individually and within your own business entities.