Why Brands Should Unlock the Hispanic Pet Market for Growth

The pet industry is booming, with a significant contribution from Hispanic pet owners. Here’s a condensed look at why brands should focus on this market to drive growth

Hispanic Economic Power:

• U.S. Hispanic GDP stands at a massive $3.2 trillion.
• Hispanic purchasing power is pegged at $3.4 trillion.
• If considered a separate economy, U.S. Hispanic GDP would be the world’s fifth largest.
• Its rapid growth is due to its youth, work participation, education, and rising incomes.

High Spending Power:

• The U.S. Hispanic market surpasses the GDP of countries like India, the UK, France, and Italy.
• 66% of Hispanics own a pet, only slightly behind Whites at 68%.
• Hispanics are set to drive half of the pet ownership growth, spending over $1.4 billion on their pets.

Understanding Hispanic Pet Owners:

• Predominantly dog lovers, they also account for 1 in 3 bird owners.
• They prioritize pet health, investing in quality food and care.
• 65% are brand loyal, especially in pet food.
• A large portion (43%) are young, under 35. Of these, 64% are highly acculturated (U.S.-born with at least one U.S.-born parent).
• For engagement, a digital, culturally relevant strategy in English is recommended, as they’re active on social media and only 25% prioritize Spanish packaging.

Brands looking for growth should recognize the influential Hispanic pet owner segment for its economic power and cultural connection to pets. Relevant and targeted strategies can lead to successful and profitable growth.

Sources:

Pet Products Association

Latino Donor Collaborative

Animal Hearted

Pew

Freedonia