Euromonitor International recently released a  video  reviewing pet industry growth in the past two years in addition to current petfood trends.

While petfood and pet care did not grow as much in 2009 as they did in 2008 due to the economic recession, when compared to other markets, the overall industry is still doing well.

"We expect this industry trend to pick up as the global economy outlook improves," said Emily Woon, head of fresh food and pet care at  Euromonitor .

She went on to explain the three trends currently seen in petfood: all-natural and organic petfood, weight management products and fortified/functional products.

"There is a lot of untapped potential from these three key markets," Woon said.