More than just "man's best friend"
While the Canadian birth rate has been declining, the number of pets has been on the rise. Some Canadians are choosing pets over having children, while others, especially older people, are seeking companions to fill their empty nests as their children have been growing up and leaving home. Surveys indicate that about half of all Canadian households have at least one pet. Alberta, Manitoba and Saskatchewan lead the way in pet ownership, followed by the Maritimes, British Columbia, Ontario and Quebec. Pet ownership increases with the household income.
By the end of 2012, retail sales of petfood and pet care products are expected to reach approximately C$2.2 billion (US$2.23 billion), reflecting a constant value compound annual growth rate increase of 2%. Value sales of petfood will be enhanced by increased sales of higher priced, value-added products across all pet segments, including value-added products in pet treats. Dietary supplements will be in demand as well, as pet owners will seek the most balanced diets possible for their animals. Furthermore, the apparently large number of older pets, as well as over-pampered indoor animals with extra weight problems, will be also support sales of dietary supplements and healthcare products.
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