Business
Freshpet’s COO says customers spend more on pets than children
As major milestones like buying a home or having kids have felt increasingly unattainable, younger generations have invested more in something arguably as rewarding: their pets. During the pandemic pet boom, an eye-popping 23 million American households adopted a cat or dog, which forced people to adjust their household budgets to afford a new furry friend.
But for many pet parents, having a dog or cat hasn’t just meant carving out an extra $50-$100 per month just for food and toys. Pet parenting has become more of a lifestyle, with people shelling out hundreds of dollars per month for fresh food—and sometimes thousands for special experiences like a Transatlantic flight or curated vacation.
This is evidence of a shifting consumer attitude around pets, Nicki Baty, chief operating officer of $3.1 billion dog food brand Freshpet, told Fortune.
“I think it’s kind of gone on steroids, really,” Baty said of the trend of pet parents willing to spend more on their pets. She even said some pet parents value their pets more than other family members.
“In consumer insights we get, they spend more on their pet, and they value their pet more than their children,” Baty said. “So when you had to rank the order of relationships they have in their family, their dog comes before their partner, their kids, other family members.”
“It’s one of the most constants in life,” she continued. “There’s something, I think, really powerful about that human-animal bond, and especially over the last few years, with everything that played out, with COVID as well.”
How much it costs to have a pet
The average annual cost of raising a human child in the U.S. is nearly $30,000, according to a recent LendingTree study, an eye-popping figure that often dissuades people from extending their families. It’s also approximately equal to the lifetime care costs for a pet.
According to Rover’s 2025 Pet Parenthood report, the average lifetime care for a 10-year-old dog costs about $34,550, and $32,170 for a 16-year-old cat. To be sure, those figures can vary based on breed and health conditions—plus, pet parents should expect to pay much more during a period riddled with inflation and tariffs: They can expect to spend about 11% more for veterinary fees this year, 183% more for pet cleaning supplies, 20% more for grooming supplies, and 85% more for treats and chews, according to Rover.
That’s also meant the number of households today bringing a pet home has become relatively flat, Baty said, “and that’s a big change from the last few years.”
Even considering how much more expensive it’s become to own a pet, people still want their furry family members to have the best care and conditions, which often starts with food. During the past few years, fresh, raw, or freeze-dried food have become more popular options, marketed as a healthier and more life-sustaining option for pets than traditional kibble.
Getty Images—Phillip Faraone
Is fresh pet food worth the cost?
While The Farmer’s Dog is one of the preeminent fresh pet food brands, often associated with its curated subscription boxes, Freshpet was actually launched about a decade earlier. Freshpet was founded in 2006 and became the first major player in the fresh dog food space, with millions of pet parents as customers, and is sold at major retailers like Walmart, Petco, and Petsmart.
The company focuses on producing pet food with premium, locally sourced, fresh ingredients that are gently steam cooked instead of baked at high temperatures, like traditional kibble. According to ConsumerAffairs, Freshpet can cost $3-$13 per day for one pet, depending on size, breed, and health needs. Traditional kibble can cost as little as $0.76 per day or as much as about $5 per day, again depending on the dog’s needs, according to Rover.
But as fresh dog food brands tout offering a “longer and healthier lifestyle,” Baty said, pet parents are more willing to spend more to keep their pets happy and healthy. And it’s not just high-income consumers who are willing to spend more.
“We have a large amount of low income, middle income, and high income [customers],” Baty said. “And the reason goes back to the attitude. The core of it is the attitude you have towards your pet, which is you’re going to make sacrifices or choices.” Meghan Trainor also famously partnered with Freshpet upon the release of her “I’m a Dog Mom” music video, and released an accompanying apparel line.
Getty Images—Phillip Faraone
Baty also argues that feeding fresh food offers better long-term benefits, such as lower vet bills. She said pets who consume fresh food can face fewer health risks down the line, which means less spent on additional medical care.
To be sure, many veterinarians still recommend more traditional kibble brands, with Purina Pro Plan being a popular option. Those foods are still packed full of the nutrients and protein pets need to live a happy and healthy life, and it’s always important to discuss any nutrition plans with a trained veterinarian. Choosing the right pet food has been a long-contested debate in the veterinary world, and it’s often difficult to discern the right choice for your pet.
Some pet parents also opt for feeding fresh food as a “topper” or extra on top of traditional kibble, which can add more health benefits—and excitement around mealtime.
“Even if you can’t afford to feed it every single meal or always on the main meal, we do have a really large number of consumers that start off mixing,” Baty said: 70% of their revenue comes from 2.2 million households, but there are 14.5 million households that buy Freshpet.
“It’s a place of not wanting to make ourselves inaccessible from either a price-point standpoint, whereby only very wealthy people can afford to pay the main meal fee,” she said.
And Freshpet has big growth plans: Baty said they believe they can reach 33 million households and invest in new technology and roll out new flavors, textures, proteins, and more treats.
“The nice thing is, we’re only just getting started,” she said. “There’s so much opportunity for us. It’s just a question of what we do first.”
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