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For many, pet companionship is considered a fundamental source of emotional support and connection… but, as any pet owner knows, caring for a pet can get pricy. How are today’s pet owners balancing cost and care?
To study the consumer behavior of today’s pet parents, Ipsos polled 1,119 U.S. adults from January 10-13, 2025. What they found: majorities of all age groups surveyed have at least one pet. 54% of those ages 55+, 73% of those ages 35-54, and a full 79% of those ages 18-34 are pet parents. Of those who owned pets, having a dog was by far the most common pet (49%), followed by cat (32%), fish/amphibian (7%), and other mammals, like a gerbil or hamster (1%).
Pet ownership has bloomed since the pandemic, and pets are becoming increasingly important in people’s lives. A majority (64%) of pet owners say that they prefer the companionship of their pets over that of people, and that prioritization shows: 72% of pet owners said they’d be willing to pay “whatever expenses are needed to care for their pets, regardless of the cost,” and a full 59% are “more willing to spend on premium food for their pets than for themselves.”
As pet ownership increases, so too does the amount pet parents are spending on their pets – annual spending on pets has ballooned to reach $150 billion in sales. Despite the willingness to pay whatever expenses are needed for pet care, cost is still top of mind. The most important factor for pet owners to consider when choosing pet food isn’t natural ingredients (40%), vet recommendations (31%), or organic ingredients (14%) — it’s cost (56%). And, as pet parents look ahead, a majority (52%) expect the overall cost of having pets will increase and 47% predict that affordability of pet healthcare will decline. This comes as just 31% of pet owners say they have enough money saved to cover an unexpected medical bill for their pet.
As a result, the pet industry should be focused on finding ways to balance premium care with affordability. Consumers are increasingly seeking high-quality, cost-effective solutions for their pets to experience long-term care that are both sustainable and economical.
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