Hispanic Pet Owners in the U.S. Are 20 Million and Growing
More Hispanic Americans are becoming pet owners—a trend that has been gaining momentum over the past 10 years, according to Hispanics as Pet Market Consumers, a brand new report from Rockville, Md.-based market research firm Packaged Facts.
The overriding dynamic that will continue to propel above-average growth in the number of Latino pet owners results from such variables as rapid Hispanic population growth, increasing acculturation of the Latino population and an increase in the rate of pet ownership due to the high correlation between acculturation and Hispanic pet ownership, according to the research firm.
“As acculturated Hispanics continue to make up a larger and larger share of the rapidly expanding Hispanic population in the United States, the number of Hispanic pet owners will continue to grow exponentially,” said David Sprinkle, research director, Packaged Facts.
Packaged Facts projects that the Hispanic share of the pet owner population will increase from almost 15 percent in 2016 to 17 percent in 2021 as the number of Latino pet owners grows from slightly above 20 million to just over 24 million. Between 2016 and 2021 the growth rate in the number of Hispanic pet owners will be more than six times higher than that of non-Hispanic pet owners (19 percent vs. 3 percent) and Latinos will account for around half (50 percent) of the growth in the number of pet owners in the U.S.
When marketing to Latinos involved in the pet industry, Packaged Facts found that millennials deserve special attention. The relatively young age structure of the Hispanic population translates into a Latino pet owner population that is significantly younger than the population of non-Hispanic pet owners. More than four in 10 (43 percent) Latino pet owners are under the age of 35, compared to just 30 percent of non-Hispanic pet owners.
Marketers also should be aware that Hispanics hold the key to expanding the pet industry beyond just dogs and cats; over the past decade Latinos have been responsible for salvaging the market for products for pets with lower profiles such a fish, birds and reptiles. For example, between 2007 and 2016, the number of Hispanic bird owners jumped by one million while the number of non-Hispanic bird owners dropped by 3.1 million. As Hispanic pet owners become an increasingly large segment of the population of pet owners as a whole, they will become even more important to marketers of products for owners of pets other than dogs or cats, predicts Packaged Facts.
For more information about Hispanics as Pet Market Consumers, click here.