Ingrid Chu, Vice President of Research and Insights at the American Pet Products Association, presented findings from the National Pet Owner Survey (NPOS) at Petfood Forum 2024. The survey revealed that 63% of U.S. households own pets, contributing $303 billion to the economy, with pet spending showing an 8.8% CAGR from 2018 to 2024. Pet care spending leads other fast-moving consumer goods, with Millennials and Gen Z heavily influencing this growth, especially through online and social media channels. Post-pandemic, pet ownership levels are stabilizing, and pet owners are increasingly emotionally attached to their pets. The survey, which included responses from over 10,000 pet owners, underscores the strong and evolving dynamics of the U.S. pet market.
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