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ANSI 4523 > US Pet Industry > Flashcards

Flashcards in US Pet Industry Deck (24)
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1
Q

Global Business $ amount for today? Projected in 2027?

A

261 billion

350 billion

2
Q

Size and Scope of pet industry in US:

-size of those included in pet industry
-what percentage of households own a pet? number of households?
-number of pets in America
-average household spending for dogs? cats?

A

-123.6 billion in 2021, 103.6 billion in 202
-70% or 90.5 million households
-393 million
-$1614 for dogs, $1125 for cats

3
Q

Annual growth rate of pet industry?
Employment percentage in pet business?

A

5.4%
11%

4
Q

Types of businesses in the pet industry:

A

Medical services
Food
Training
Boarding/day care
Products - toys, beds, crate
Grooming

5
Q

What do pet owners spend the most money?

A

Food and treat (50 billion)
Vet care/products (34.3 billion)
Supplies/live animals and OTC medications (29.8 billion)
Buying pets (9.5 billion)
Pet services like grooming/boarding/walking/training (9.5 billion)

6
Q

How many 18-34 year old’s will add a pet in 5 years?

A

65% (projected)

7
Q

What is the #1 reason for dogs to go the vet? Cats?

A

Dogs - allergies
Cats - urinary tract

8
Q

Why is the pet industry growing?

A

Pet parents now:
-demand better food/medical care/high end products
-realized benefits to health
-idea that more expensive items are better (premiumization)

9
Q

Different “roles” for pets (not medical wise)

A

Pets on vacation
Pets are family
Pets are therapy

10
Q

Statistics for pet owners

A

53% female, 47% male
74% dog owners
61% cat owners

11
Q

Statistics of pet ownership by generation
Gen Z
Millennial
Gen X
Baby Boomer
Builder

A

Gen Z - 14%
Millennial - 32%
Gen X - 24%
Baby Boomer - 27%
Builder - 3%

12
Q

Demographics of:
Baby Boomers
Millennials

A

Baby boomers are replacing children with pets
-pet spending peaks between 55-64%

75% of millennials own pets
-have pets other than dogs/cats
-grown up with pets as people

13
Q

Pet food wants:

A

humanization
premiumization
sustainability

42% owners want premium pet food
147% increase in raw food diets

14
Q

Use of supplements: major type used and growth percentage

A

48% owners use CBD oi;
116% growth in supplements between 2019-202

15
Q

Pet insurance facts

A

added to employee benefits
premiums available
more frequently used as time goes on

16
Q

Different industry trends

A

Organic options
Health trends
Pet celebrities’
Pet services
Health insurance
Celebrities advocate for pets

17
Q

Types of pet technology

A

Home health monitoring
GPS trackers
Health monitors
Dating apps
Automatic feeders
Pet cameras

18
Q

Pets for holidays (statitics)

A

60% Gen Z bought presents for pets
$490 million on Halloween outfits

19
Q

Human Health Benefits

A

$11.7 billion savings in US Health Care Costs
Pet owners visit doctor 0.6x less

20
Q

What areas have research in human animal bonds?

A

Child health and development
Healthy aging
Mental health and wellness

21
Q

Parts of child health and development (human animal bond)

A

Autism spectrum disorder
Allergies and immunity
Child development

22
Q

Parts of healthy aging (human animal bond)

A

Cardiovascular health
Alzheimer’s disease and dementia
Cancer

23
Q

Parts of mental health and wellness (human animal bond)

A

PTSD and trauma
Mental health
Quality of life
Workplace wellness

24
Q

What hormone is responsible for bonding, socialization, stress r3eflief, and decreased stress?

A

Oxytocin