Latest / The Demographics Podcast with Fexingo: Aging Populations, Birth Rates, and Economic Impact
How Falling Birth Rates Reshape the Pet Insurance Industry
Episode 91 of The Demographics Podcast explores how declining birth rates and smaller families are driving a surprising boom in pet insurance. With fewer children, households are spending more on pets, and pet ownership increasingly resembles child-rearing in terms of spending and emotional investment. Lucas and Luna unpack how the U.S. pet insurance market grew from $1 billion in premiums in 2019 to over $4 billion by 2025, with annual growth rates exceeding 25 percent. They examine the shift from accident-only policies to comprehensive wellness plans, the rise of pet-specific startups like…
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