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Pet market worth US$49 billion in 2012, Mintel reports

Petfood sales accounted for 37.8 percent of pet market in 2011

According to the latest report by Mintel, the pet market is worth more than US$49 billion in 2012, up 15 percent since 2007, despite a turbulent economy. Spending on petfood and pet supplies continues to grow as pet ownership becomes more widespread, with 64 percent of Americans currently owning a pet.

Petfood accounted for the largest share of sales in 2011, 37.8 percent of the pet market, with a retail value of US$18.1 billion. Veterinary services represented the second-largest segment generating more than US$12 billion annually.

“Pets have many needs that are similar to human family members, including food and medical care,” said Bill Patterson, senior market analyst with Mintel. “Therefore, pet supplies and services are often necessities rather than discretionary purchases, which has helped shield this industry from the rocky recessionary environment. The strong bond between owners and pets offers significant marketing opportunities for manufacturers and retail outlets focusing on pet care and supplies.”

Online exclusive! CSR PowerPoint

For more about sustainability in petfood, watch Jan Hoijtink's Petfood Forum 2010 PowerPoint, "Corporate social responsibility: from whim to a matter of strategy."

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US trade data show petfood faring relatively well

More paws with a cause

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Research: What’s in store for pet retail

Read more of Dr. Mukund Parthasarathy's insights on the changing petfood retail market and how it affects petfood manufacturers large and small

Petfood takes a vacation

Now is the time for packagers, producers, marketers and manufacturers to capitalize on the traveling with pets trend

Something To Chew On: Flip side of human-pet bond

As an industry, are we missing a huge opportunity to take advantage of another aspect of the human-pet bond?

Pet market worth US$49 billion in 2012, Mintel reports

Petfood sales accounted for 37.8 percent of pet market in 2011

pet food trends

pet food market

Online exclusive! CSR PowerPoint

Import and export trends

More paws with a cause

Research: What’s in store for pet retail

Petfood takes a vacation

Something To Chew On: Flip side of human-pet bond

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