“Functional Pampering” by “Über Owners” to Drive Premium Pet Products Market Growth

New York, - With “functional pampering” quickly becoming one of the most important pet market trends of the decade, a growing share of the $47 billion pet market is shifting into the hands and pocketbooks of households with premium demographics; “über owners” who make big money and spare no expense when caring for their pets, according to Market Trends: Premium Pet Demographics and Product Purchasing Preferences, a new report from Packaged Facts.

One in three pet-owning households in the United States—17.4 million of the 52.8 million dog- or cat-owning households—qualifies as a premium pet household, identified by Packaged Facts as single-person households with an income of $50,000 or more, two-person households with an income of $75,000 or more, and three or more person households with an income of $100,000 or more.

Between 1995 and 2005, the $70K+ über owners more than tripled their household pet expenditures from $5.2 billion to $18.6 billion. As of 2005, they accounted for more than half of total spending in three of the four pet market categories—pet food, veterinary services, pet supplies, and pet services.

While some of this growth stems from an increase in the number of upper income households, it also signifies the success of marketers tapping into premium pet demographics’ willingness to pamper their pets by providing them with the most high-end and super-nutritious products available at almost any cost, what Packaged Facts has dubbed “functional pampering.”

“Products for pets are being made to resemble those for humans,” notes Tatjana Meerman, the publisher of Packaged Facts. “Especially among aging Baby Boomers, Empty Nesters, DINKs (dual-income/no kids couples) and Singles, humanization is fueling consumer demand for premium products and services, including those bearing familiar brand names crossing over from the human side.”

Premium Pet Demographics and Product Purchasing Preferences provides a comprehensive look at the groups most likely to purchase premium pet products. The report examines each group in detail and analyzes trends in product brand and retail channel preference. The report is available from Packaged Facts by visiting: https://www.packagedfacts.com/Trends-Premium-Pet-1219010/.

About Packaged Facts
Packaged Facts publishes market intelligence on a wide range of consumer industries, including consumer goods, food and beverage, and demographics. For more information visit www.PackagedFacts.com, or contact Tom Ehart at 240-747-3014, or tehart@marketresearch.com.