New Research Reveals Pet Spending as a "Protected Budget Item" for Owners, Fueling Industry Resilience
Elanco released consumer research indicating that 91% of U.S. pet owners have maintained or increased spending on pet health and wellness, treating it as a protected budget item. The survey of 1,409 owners found that 95% view pet health as a priority they will not reduce due to economic pressure, with 31% increasing spend in the last three months despite rising costs.
Key figures
- Survey sample size
- 1409
- Pet health priority pct
- 95
- Industry 20yr avg growth pct
- 5
- Pet happiness importance pct
- 88
- Subscription based sales pct
- 40
- Industry 2025 market size usd
- 42000000000
- Pet owners increasing spend pct
- 38
- Vet visits with diagnostics pct
- 20
- Pet owners maintaining spend pct
- 91
- Industry 2025 estimated growth pct
- 7
- Pet owners increased spend 3mo pct
- 31
- Pet owners expect spend same or up pct
- 90
- Industry 10yr projected market size usd
- 60000000000
AI analysis
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