“Empty Nesters”
Aging population and "empty nesters" trade up on their pets and continue to fuel healthy demand for veterinary services. These "empty nesters" are more likely to trade up on premium pet products and services. According to the U.S. Department of Health and Human Services' Administration on Aging, the number of American's aged 45-64 years increased 40% from 1996-2006. In 2005, 36.8 million people were aged 65+ years, an increase of 9.4% from 1995 (in total, this age group represents 12.4% of the American population). This population is expected to reach 40 million people by 2010, 55 million by 2020, and 71.5 million by 2030 (almost twice as many persons as in 2005). While the household income level does decline, the net worth is far greater than the U.S. average, ($108,885 vs. $55,000), and even higher for married households ($173,950).

“DINKS”
The growing number of dual-income, no-kids ("DINKs") households in the United States will positively impact demand for pet supplies and services, both in the near term and longer term, especially for premium pet products. According the U.S. Census Bureau, in 2005 22% of married couples within childbearing range (aged 25-44 years old) did not have children. This figure is up from 18% in 1998. Importantly, these households have already chosen to include their pets as family members, and this emotional bond between pet and pet parent will be apparent to the children in the household (when they are born); creating another generation of emotionally-charged pet owners.

“Pet Parents”
Pet-owners are increasingly feeling like 'pet parents,' impacting the way they choose to spend on their 'family member.' It is estimated that 80% of pet owners consider their pet to be a family member, and 56% of the nation's pet owners sleep in the same bed as their pets. Many studies (including reports from the APPMA, AVMA, AAHA, and AAVMC) have found that as the human-animal bond grows, pet owners are more willing to spend more money on their pets. Similarly, a trend toward healthier and longer-lived pets increases the amount of money people are willing to spend on care.