Pet Food News

Owners spending on pet care despite recession

With more than 65% of American families having a pet, pet care-including food, accessories, veterinary services and grooming-is big business, according to a news  report .

American Pet Products Association  data shows spending on pet care was US$43.2 billion in 2008 and is expected to cross US$45 billion this year.

According to  IBISWorld , an industry and market research firm, pet stores are expected to touch US$11.45 billion in revenue this year. A growth of 5% over the next five years is expected in pet care, training and pet sitting.

Veterinary services accounted for US$22.3 billion in 2008 and is expected to grow 4.3% over the next five years.

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