While Australian millennials (25-to-34-year-olds) pay more for pet food per month and have spent more on accessories, Generation X pay more for medication, vet bills and pet insurance. The yearly spending by age group (which excludes the total amount spent on accessories) is shown in the chart below.
When it comes to the total spend on accessories, it’s Millennials and Generation Z that actually spend the most, with Generation X close behind.
Similarly to Australia, it’s the younger generations who spend more per year on pet food, with 18-24-year-olds spending over US$1,061 per year (AU$1,642) on animal feed for their pets. They also spend the most on pet insurance, spending US$1,115 (AU$1,726) on average for pet cover. In contrast to Australia, it’s the oldest Canadian pet owners (aged 65+) who spend the most on their pets’ healthcare needs and vet bills, paying US$659 (AU$1,020) on average per year.
When it comes to the total amount spent on accessories, it’s again the younger generation of pet owners who spend the most, with Canadians aged 18-24 having spent almost US$1,000 on average (just over AU$1,460).
In America, the millennial generation spends the most on pet food, as well as medications and vet bills, spending US$1,695 on food (AU$2,611) and US$605 (AU$931) on pet healthcare per year. However, pet owners aged 55 to 64 are the ones who spend the most on pet insurance, paying an average of US$1,083 ($1,668) annually to cover their beloved pets.
When it comes to how much people had forked out for pet accessories, pet owners aged 45-54 take the lead, having spent an average of US$881 (AU$1,357) for bedding, enclosures, toys and other accessories.