Pet Adoption Rates Decline Amid Rising Costs, Affecting U.S. Households
In the first half of 2025, dog adoptions in the U.S. experienced a modest decline, while cat adoptions remained stable, according to Bank of America global research. The share of households with pets has decreased over the last two years, particularly among lower-income households. Despite rising costs for pet goods and services, the U.S. pet market continues to grow, though at a slower pace. Spending on pet goods and services is increasing, with a notable rise in veterinary care costs. The Bank of America Institute analysis suggests that affordability is playing a larger role in pet adoption decisions. 
