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.
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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