The Growing Pet Industry

Did you know that:

• There are over 76 million dogs, and 90 million cats currently residing in the United States?
• 71 million households (63%) have at least one pet?
• 48 million households (43%) have more than one pet?
• Pet food alone is an $18 billion a year industry?
• The overall pet care industry has grown 30% per year since the mid 1990's?
• The pet care industry has continued to increase from 2008 to 2009?

Clearly, pets themselves haven’t changed, yet pet ownership has taken a larger stance in society and the pet care industry iscontinuing to evolve, regardless of economic circumstances. In the American Pet Products Association's (APPA) 2009-2010 National Pet Owners Survey showed a 5% increase in the industry throughout 2009, with continued growth forecast for 2010.

The reason for this: pets are a natural and incredibly effective antidepressant. They fulfill a basic human need that actually increases during difficult economic times. While sectors of luxury goods struggle, the pet industry continues to go strong; a furry friend on your lap is worth much more than a plasma TV.