"Hispanics hold the key to expanding the pet industry"

Packaged Facts, a division of MarketResearch.com, predicts that the Hispanic share of the pet owner population will increase from almost 15 percent in 2016 to 17 percent in 2021 as the number of Latino pet owners grows from slightly above 20 million to just over 24 million.
Between 2016 and 2021 the growth rate, according to Packaged Facts, in the number of Hispanic pet owners will be more than six times higher than that of non-Hispanic pet owners (19 percent vs. 3 percent) and Latinos will account for around half (50 percent) of the growth in the number of pet owners in the United States. Marketers should be aware that Hispanics hold the key to expanding the pet industry beyond just dogs and cats. Over the past decade Latinos have been responsible for salvaging the market for products for pets with lower profiles such a fish, birds, and reptiles. For example, between 2007 and 2016 the number of Hispanic bird owners jumped by one million while the number of non-Hispanic bird owners dropped by 3.1 million.
As Hispanic pet owners become an increasingly large segment of the population of pet owners as a whole, they will become even more important to marketers of products for owners of pets other than dogs or cats, predicts Packaged Facts.