Growing US pet product market

Pet product manufacturers and retailers keeping a cautionary eye on the US market will be pleased at the latest news coming out of the American Pet Products Manufacturers Association (APPMA) which predicts 5 to 6 per cent growth for the foreseeable future with plenty of untapped areas in the pet industry. After tracking pet industry statistics for more than a decade, the APPMA released new figures which show a doubling in pet spending from 17 billion $ in 1994 to a projected 35.9 billion $ for 2005. According to the U.S. Census Bureau, the pet industry is now the seventh largest retail segment in the country, (even when equine and pet prescription medications are excluded). Figures put pet industry at 60 percent larger than the US toy industry.