In 2014, $19.7 billion USD was spent on pet care by Americans. Millennials and Gen X are most likely to have a pet and spend the most money on it. Dogs are the most common pet (71% of pet owners have at least one) followed by cats (49 of pet owners have at least one). 11% of pet owners have fish, 8% have a bird, and 9% have a different animal.
Pet owners are wiling to pay a fair amount on pet food fueling a multi-billion dollar industry. |
Pet owners spend money on much more than food. 45% of pet owners buy birthday presents for their pets and 64% buy holiday gifts. The most common gifts are general toys, chew toys, and tug toys. Owners are also willing to buy clothes for their pets.
While spending on non-food items is high, it is not yet high enough to fuel a multi-billion dollar industry. |
Medical costs also add up. Americans spent $389 million USD on medicines, $19.2 million USD on treatments, and $379.1 million USD on flea and tick products.
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