Millennials and Gen Z are market drivers

“The pet industry continues to show resilience in the face of economic uncertainty,” was the key message from APPA president and CEO Pete Scott on the current state of the US pet market. Scott described as particularly encouraging the fact that pet ownership itself is expanding, with 94 mio US households now owning at least one pet, up from 82 mio in 2023. 51 per cent of all US households (68 mio) own at least one dog, while the figure for cats is estimated at 37 per cent (49 mio). This confirms that pet care remains a top priority for Americans, reflecting the deep and lasting bond between people and their pets.

This is particularly true for Millennials and Gen Z, who are more likely to have multiple pets than their Boomer and Gen X counterparts. In 2024, Gen Z accounted for 20 per cent (18.8 mio) of US households that owned a pet, an increase of 43.5 per cent from 2023. Gen Z also contributed to significant growth in dog and cat ownership, accounting for 20 per cent of both dog and cat owners, an increase of 18 per cent and 25 per cent, respectively, from 2023.  

Among Millennials and Gen Z, men are driving the market. 58 per cent of Gen Z and 63 per cent of Millennial dog owners are men, up 15.2 and 18.6 per cent, respectively, from 2023. But it’s not just dogs that young US men are flying the flag for: Surprisingly, the biggest growth in cat ownership has been among Gen Z and Millennial men, with 38 per cent of Gen Z and 46 per cent of Millennial cat owners being men, a 17.8 and 23.9 per cent increase from 2023, respectively. One consequence of this demographic trend could be that pet owners will increasingly shop across online and in-store, making a strong omnichannel presence essential for pet retailers. 51 per cent of shoppers typically buy pet products online, while 47 per cent buy pet products in-store.

Scott is confident that the pet industry will continue to grow this year. 77 per cent of US pet owners say the current economy has not affected their pet ownership. As a result, the APPA expects sales to reach 157 bn dollars this year. On the other hand, the APPA president also mentions that many pet owners are concerned about affordability and access to pet services and veterinary care. 37 per cent of US…