ROCKVILLE, Md., April 27, 2020 /PRNewswire/ -- Dogs and cats are the furry darlings of the U.S. pet market, but the reptile business has advanced as well over the past decade, spurred by a growing interest in these "mini dinosaurs," according to the just-released Reptile Products: U.S. Pet Market Trends and Opportunities by market research firm Packaged Facts.
Like dog and cat owners, reptile owners have strong ties to their pets: 85% of "other pet" owners, including reptile owners, consider their pets to be part of the family, according to the proprietary February/March 2020 survey data presented in the report. "Reptiles as family suggests new opportunities for premiumization," notes Packaged Facts research director David Sprinkle, "including more expansive and diverse and visually appealing habitats, and supplies that increasingly echo what a reptile would experience in the wild." Reptile ownership also synchs with the demographic shifts to Millennial and urban households.
Reptile products are projected to grow from $495 million in 2019 to between $550 million and $650 million by 2024, depending on the depth and duration of coronavirus pandemic-triggered impacts on household finances and housing situations. These figures include food and non-food supplies for pet reptiles including snakes, lizards, and turtles as well as amphibians such as frogs.
When pet care budgets are limited, reptiles may gain in appeal in being very affordable compared with keeping dogs or cats, with most reptile owners viewing their reptile setups as a reasonable initial expense. The reptile business may also get a bump because of the heightened levels of comfort and affection pet owners are finding in their pets due to being home bound and social distancing, and because kids are a key factor to the household ownership of reptiles, and children now more than ever need to be meaningfully entertained.
More than half of adoptions or acquisition of pets other than dogs or cats involve buying pets either for or at the request of children, according to Packaged Facts survey data. Households with children are therefore the top demographic for reptile ownership, with households with three or more children being more than twice as likely than average to own reptiles.
About the Report
Reptile Products: U.S. Pet Market Trends and Opportunities (published April 2020) is now on sale.
The report analyzes the U.S. retail market for food and non-food supplies for pet reptiles including snakes, lizards, turtles, and amphibians such as frogs, tracking sales through all retail channels including online sales.
Media members please contact our Communications Manager Daniel Granderson at [email protected] for a copy of the report summary. Those interested in purchasing the report can contact Research Specialist Jeff Miller at [email protected] or visit https://www.packagedfacts.com/Pet-Reptile-Products-Trends-Opportunities-Edition-13187468/.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.
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SOURCE Packaged Facts