Pet Spending At An All Time High

As one would think, during a recession people would spend less on extras for their pets.  However, annual spending on pets has reached an all time high.

In 2011, American Pet Products Association reported that Americans spent $50.96 billion on their pets – an all time high and the first time in history more than $50 billion has gone to dogs, cats, canaries, guppies and the sort.

65% of that spending was for food and vet costs.  However, the service category, such as grooming, boarding, pet hotels, pet sitting and day care, grew more than any other.  It rose 7.9% from $3.51 billion in 2010 to $3.79 billion in 2011.

Owners are conscious about taking care of their pets and are planning ahead for when they go on vacation.  Numbers indicate that animal sales and adoptions are flattening out and the number of people switching to a high end food products are topping out.  Pet ownership has become less of an impulse decision and seems that those that have made the commitment to having a pet want to do it right and make their pets the happiest they can be.

Another area in the pet industry is pet insurance and is expected to grow rapidly.  In 2011, insurance was estimated to be at $450 million and is expected to grow over $500 million in 2012.

Entrepreneurs and investors are also taking advantage of the growing pet industry as consumers are looking for creative and innovative products.  Products such as puzzle feeders for dogs along with bionic toys for destructive toys are some of the new products the pet industry is seeing consumers go after.  This proves people care about their pets enough to calm any type of separation anxiety or destructive issues.

Always keep in mind Clear the Air offers wonderful range of Odor Eliminator products to make your pet enjoyably odor free!