Annual pet spending passes $50 billion mark - Ahwatukee Foothills News: Money

default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard

Annual pet spending passes $50 billion mark

Font Size:
Default font size
Larger font size

Related Stories

Posted: Wednesday, March 14, 2012 5:58 pm

Americans spent $50.96 billion on their pets in 2011.

That’s an all-time high and the first time in history more than $50 billion has gone to the dogs, cats, canaries, guppies and the like, the American Pet Products Association said in a report issued last week.

Food and vet costs accounted for about 65 percent of the spending. But it was a service category — one that includes grooming, boarding, pet hotels, pet-sitting and day care — that grew more than any other, surging 7.9 percent from $3.51 billion in 2010 to $3.79 billion in 2011.

APPA President Bob Vetere said 2012 should be another banner year for services, predicting it would grow 8.4 percent to an estimated $4.11 billion in 2012.

Owners are taking care of their pets, said Dr. Jessica Vogelsang, a San Diego veterinarian and author of “They are planning ahead. When they go on vacation, they want to make sure their pets are well cared for,” she said.

Spending in 2011 was up 5.3 percent from 2010, when it totaled $48.35 billion, Vetere said. He estimated 2012 sales would total $53 billion.

In 2011, people spent $19.85 billion on food, $13.41 billion on vet care, $11.77 billion on supplies and over-the-counter medicines, $3.79 billion on other services and $2.14 billion on live animal purchases.

In 2010, they spent $18.76 billion on food, $13.01 billion on vet care, $10.94 billion on supplies and over-the-counter medicines, $3.51 billion on other services and $2.13 billion on live animal purchases.

Food sales did slow down, Vetere said, even though the 5.8 percent growth exceeded projections of 4.1 percent growth.

APPA numbers indicate that animal sales and adoptions are flattening out and the number of people who switched over to high-end food products is topping out.

Pet ownership is becoming less of an impulse decision, Vogelsang said. “I am seeing a lot of people saying, ‘This isn’t the time for us.’ People are more interested in pets than ever before but they are taking their time, once they make the commitment, to do it right.”

“I don’t think this is a bad thing. I am proud of the owners,” she said.

Pet insurance is another area that is expected to grow briskly, Vetere said. Included in the veterinary care category, insurance was estimated to be $450 million in 2011 and expected to grow to more than $500 million in 2012.

“Insurance makes such a difference in the health of an animal,” Vogelsang said. “I can’t tell you how many times I have had a pet come in and the only reason (the owners) were able to afford catastrophic care is because they had insurance. It’s literally a life-saver and I’m really glad people are embracing the concept,” the veterinarian said.

The pet industry is also a major attraction for entrepreneurs and investors looking for creative and innovative products, Vetere said.

Vogelsang believes the trend is toward “very specific items geared to the specific needs of pets. We are seeing a lot of puzzle feeders for dogs — not just toys but ones that are geared toward the mental needs of the animal.”

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More about

More about

More about

  • Discuss

In Nevada, Latino Groups Are Finding the Voters Data Can’t

Daniel Zamora says that Donald Trump’s presidential campaign reminds him of the movie Saw, and no, not because he thinks it’s frightening. It’…

Published: October 22, 2016 - 6:01 am @…

How TV Learned To Stop Worrying And Love Its Weed

Marijuana is reaching a point of no return. Election Day is nearly upon us, and with it comes what might be the much-needed antidote to the fi…

Published: October 22, 2016 - 5:31 am @…

From Pot To Guns To School Funding: Here's What's On The Ballot In Your State

It's time to talk about ballot measures. Or rather, those other things voters are deciding on Nov. 8. This November, there are 156 measures be…

Published: October 22, 2016 - 5:01 am @…

Dead man voting? Arizona ballot goes to man who's been dead for 6 years

SCOTTSDALE, Ariz. - William Preiss has been a registered voter since 1972, but hasn't voted for at least the last six years. He got a ballot t…

Published: October 22, 2016 - 12:11 am @…

Emu lassoed on Arizona highway

Emu spotted wandering along I-10 near Phoenix Official used lasso to capture the bird (CNN)It's not the usual type of suspect Arizona State Tr…

Published: October 22, 2016 - 12:01 am @…

If Trump Gets Trounced, It'll Be After the Biggest and Most Well-Vetted Electorate Votes, Not Voter Fraud as He Says

Debunking Trump's ignorant claim about voter rolls. In the final presidential debate, Donald Trump said the White House will be stolen from hi…

Published: October 21, 2016 - 10:05 pm @…

ASU, Mayo to build $200M innovation center in Phoenix

Mayo Clinic and Arizona State University have launched the Alliance for Health Care, a comprehensive new model for health care education and r…

Published: October 21, 2016 - 8:59 pm @…

Arizona Sheriff Joe Arpaio is nearly 15 points behind in his reelection race

Arizona Sheriff Joe Arpaio is nearly 15 points behind in his reelection race October 20, 2016 This chess set is being sold for $1,650,000 Sout…

Published: October 21, 2016 - 8:41 pm @…

Arizona State University opens first co-working space in Scottsdale

Arizona State University is opening its first co-working space in Scottsdale this month to offer its entrepreneurial programs to the public. T…

Published: October 21, 2016 - 8:09 pm @…

Mayo Clinic and Arizona State University announce new Alliance for Health Care

TEMPE, Arizona, and PHOENIX – Mayo Clinic and Arizona State University have announced the launch of a comprehensive new model for health care …

Published: October 21, 2016 - 6:37 pm @…

Facebook on Facebook

Twitter on Twitter


Subscribe to via RSS

RSS Feeds


Most Popular

Online poll