The Obama family will soon join the 39 percent of U.S. households who own a dog, but the rest of the nation won’t be adopting as readily.
According to industry research firm IBISWorld, the total number of household pets (cats and dogs) will grow at a meager 3 percent from 2008-2013, (compared to 3.5 percent from 2002-2007) reaching 195 million. The drop in growth will likely be attributed to sluggish economic growth and an increase in the relative cost of pet care.
While a dog is the Obama family’s pet of choice, increasing trend of single-person households, longer working hours and the aging population are expected to slow the growth of dogs and increase the number of cats as pets — due to higher maintenance of this animal.
Overall 18 percent of cats are adopted from animal shelters, compared to 10 percent of dogs. With this said, pet store revenue is expected to decrease 0.7 percent in 2009.
If you’d like more information on this trend, please feel free to contact me.
Savannah Haspel, Vice President — Media Relations, IBISWorld Inc.
Sluggish economy or not, 195 billion pets in this country by 2013 is still a LOT of pets … and you say the majority of them will be cats. Now THAT’s scary.
Thanks for the information. /Gary