Analysis of the North American pet parent: Younger, more business
The United States is the mirror in which the West reflects and from which trends come. According to a recent study, Generation Z is the country that spends the most money on pet care.
When it comes to our pets, we all make sure they have everything they could want, but a recent survey commissioned by Newsweek found that it's Gen Z who splurge the most on their four-legged friends.
There's no doubt that pets mean a lot to us, and many owners want to show it by giving them new toys, tasty treats, or even remodeling an entire room for them. Of course, that comes with expensive spending habits, and a recent survey has revealed exactly how much pet owners are willing to pay.
The exclusive survey of 1,000 U.S. adults, conducted by Talker Research for Newsweek, found that Generation Z (those born between 1997 and 2012) spends an average of $148.50 a month on their pets, the highest figure of any group surveyed. Millennials (those born between 1981 and 1996) come in second, with an average monthly spend of $136.20. The Silent Generation (those born between 1925 and 1945) has the lowest monthly spend, at $68.90.
The results show that 13% of Gen Zers spend less than $50 a month on their pets, while 31% spend between $50 and $100. Some go even further: 24% of Zeros spend between $151 and $200, and 7% would spend between $201 and $250 a month.
When asked whether it's reasonable to spend money on luxury items or services for a pet, 54% of all respondents said yes. Again, Generation Z was the most likely to agree, at 66%. In contrast, 25% said no. Baby boomers (born between 1946 and 1964) were the least likely to agree, with only 40% responding affirmatively.
The survey also reveals that 88% of Americans consider their pet as much a part of the family as a human being—showing how much they mean to us. This aligns with a 2022 YouGov survey that showed that nine out of ten people consider their pet part of the family, with 51% of dog owners referring to themselves as their pet's parents. Additionally, 33% of dog owners and 21% of cat owners consider themselves their pet's best friend.
For most Americans, it's becoming increasingly common to treat a pet as an extra member of the family, and Generation Z seems very willing to spend "more time and money" on preventative measures to keep their pets healthy long-term.
Whether it's new healthy pet food brands or taking your dog to yoga classes, often, no expense is spared when it comes to trying new things, especially when there are potential health benefits.
According to the American Pet Products Association, the U.S. market spent $147 billion on pets in 2023. Of that amount, $64.4 billion was spent on food and treats.
Veterinary care and product sales cost approximately US$38.3 billion, while other services such as grooming accounted for approximately US$12.3 billion.
According to another YouGov survey, 57% of pet owners buy holiday gifts for their animals, and 40% even organize birthday celebrations for them.
Sources: Alyce Collins, American Pet Products Association, Talker Research for Newsweek, YouGov.