Market volume doubled in ten years

The volume of the pet product market in the USA has doubled within the last ten years. The American Pet Products Manufacturers Association (APPMA) expects pet spending to reach 34.3 bn $ (28.6 bn €) in 2004, according to a forecast published by the association in the run-up to National Pet Week in the USA from 2 – 8 May. In 1994, the industry recorded sales figures of 17 bn $ (14 bn €), whereas sales in 2003 reached 32.4 bn $ (27.0 bn €). If the APPMA forecast is correct, the sector will grow this year by 5.9 per cent. The expected figure of 34.3 bn $ is made up as follows:
Food: 14.3 bn $
Supplies and OTC medications: 7.9 bn $
Veterinary care: 8.3 bn $
Live animal purchases: 1.6 bn $
Other services: 2.2 bn $
Bob Vetere, APPMA COO and managing director, believes the strong growth of recent years is due in part to the fact that pets are seen increasingly as part of the family. “As more and more people consider and treat pets like children, they’re purchasing products and services that you wouldn’t have typically seen our grandparents buying for their pets”, Vetere commented with regard to the industry statistics.