Millennials Reshaping Pet Industry Future

Millennial pet ownership grew 25% between 2007 and 2015 while the number of pet owners in the 35-and-older age group increased just 14%.Even more significant, the majority of growth among Millennials came from multicultural young adults, thus making Latinos in particular a key Millennial pet owner segment. Packaged Facts projects that Millennials will be responsible for adding another 2.6 million pet owners between 2015 and 2020.There are 43 million pet owners in the 18- to 34-year-old age group, accounting for 31% of all pet owners, according to market research publisher Packaged Facts in the report “Millennials as Pet Market Consumers.”

Source: Millennials Reshaping Pet Industry Future 03/08/2016

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