The American Pet Products Association (APPA) released its National Pet Market Opportunity study in 2014, highlighting pet owners and those who never owned a pet. Obstacles of owning pets, new market opportunities, and behaviors were also identified.
Demographic differences played a key part for current, previous and non-pet owners. It was seen that current pet owners lived in more rural environments, had young children and a lower income, and owned their family home. Those who used to own a pet did not have children and had a higher income. These individuals were older and some only lived with a spouse. Individuals who never owned a pet typically lived in a city and rented their home.
Adding to the 2014 study, one-third of current pet owners are considered Baby Boomers and 10 percent are from the Builder generation. As for those who used to own a pet, 43 percent are Baby Boomers, 21 percent are Generation X and 20 percent are Builders. Generation Y was reported to be the smallest. Individuals who did not own a pet consisted of one-third Baby Booms and Generation X whereas one-quarter is Generation Y and the rest are Builders.
Builders are considered those who were born between 1901-1925 and Baby Boomers those born between 1946-1964. Generation X refers to those born in the early 1960s to 1980s, and Generation Y spans the early 1980s to early 2000s.
