Demographic headwinds to dog population growth

Learn about the economic and demographic factors involved in the current downswing of dog ownership, as well as what pet spending might be in for.

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Shot of a young woman relaxing with her dog at home
Shot of a young woman relaxing with her dog at home
Dog ownership among nearly all generations in the U.S. has decreased since 2016. | PeopleImages| iStock.com

While forecasts can have short shelf lives, being overtaken by unforeseen events, there’s no question that the U.S. economy and American households have been buffeted by COVID-19 shutdowns and illnesses, patches of job insecurity despite low unemployment rates and record price inflation only partially offset by wage increases. In addition, the Federal Reserve’s ongoing efforts to curb inflation through historic increases in its benchmark interest rates have thrown a curveball at stock market performance and real estate sales. Such factors have left the U.S. dollar problematically strong for global trade prosperity, and the U.S. economy problematically fitful for business investment or consumer spending. 

TABLE 1: Dog ownership among nearly all generations in the U.S. has decreased since 2016.

 

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