M. Shahbandeh
Research expert covering agriculture & FMCG
Generational pet market in the U.S. - statistics & facts
Millennials made up the largest share of pet owners in the United States last year, followed by Gen X in second place. Millennials also represented the highest percentage of Americans that viewed their pets as their children. While dogs are the most popular pets among all generations, Gen Zers in the U.S. are more likely to own a variety of different pets.
Gen Z and millennials pet expenditure
Pet industry expenditure has been rising rapidly in the United States and is expected to reach over 150 billion U.S. dollars in 2024. Americans aged between 55 and 64 spent the highest amount of money on their furry friends averaging 900 U.S. dollars annually. Younger pet owners have been increasing their share in the pet care industry and reshaping the market in the past few years. Gen Z and millennials combined made up half of all pet ownership in the United States as of 2023. That year, a study found that pet owners belonging to Generation Z were more likely to have insurance for their pets compared to any other generation. Younger generations also spent over 400 U.S. dollars annually on pet health care. Furthermore, Gen Z is spending more per month on pet toys and entertainment while millennials spend more money on pet food.Online pet market is rising
In 2023, pet food sales was dominated by the pet store channel, selling over 17 billion U.S. dollars more than the e-commerce channel. The online channel is, however, gaining popularity especially among the younger generations. As of 2024, over 50 percent of millennial and Gen Z pet owners purchased pet products online. PetSmart is the most well-known pet supply online shop in the U.S. among pet owners. The pet food online sales channel in the U.S. is forecast to grow further in 2024 reaching over 21 billion U.S. dollars in sales value.
