The US market continues to grow

This is the finding of the latest annual review by the American Pet Products Association (APPA), which shows overall spending in the pet industry. APPA predicts that the pet market will grow by a further 5.1 per cent in the current year to over € 50 billion. According to APPA, the biggest growth last year was in the veterinary care segment. Americans spent 8.1 per cent more than in the previous year on healthcare-related pet products, with this segment alone accounting for sales of $ 13.01 billion in 2010. APPA assumes that veterinary care could experience sales growth of 8.5 per cent this year too. Over-the-counter medication/care and accessory products also benefited from the growing awareness among pet owners of the health of their pets, and sales here grew by 5.1 per cent in 2010. Services are becoming increasingly important Pet services are another area that has experienced sustained and diversified growth in response to the increasing demands pet owners face in their everyday lives. High-end grooming, luxury pet hotels and specialised day care are fuelling new growth in the high-end demographic of pet owners. This has a lot to do with the fact that pet owners are choosing to take their pets with them whenever possible, but if they have to leave their pets behind, they want to pamper and spoil them. Figures from APPA show that the service category has more than doubled in the past decade and account-ed for $ 3.51 bn of spending in 2010. The association believes that the increase in sales of over 4 per cent achieved last year can be equalled this year too. Sales of pet food also increased considerably, to be precise by 6.8 per cent compared with 2009. This shows that, in spite of the recession, owners continue to opt for high-quality food for their pets. The pet food market has probably also benefited significantly from the further expansion in natural, organic and holistic pet food products. The only segment that suffered slight losses in 2010 was the live animal sector, with a decline in sales of 1.4 per cent compared with the previous year to $ 2.13 billion. “Pet owners are searching for more ways to enhance their pets’ lives with products and services similar to those that humans enjoy,” comments APPA president Bob Vetere. “And the industry has answered that call with a more diverse array of offerings than ever.” Bob Vetere also perceives a huge area of potential for the future in pet insurance, which is included in veterinary care figures. With…