February 23, 2013

Spending on pets rises 5 percent to $53 billion

The Associated Press

LOS ANGELES - The economy may have remained sluggish last year, but Americans refused to scrimp on their pets, with animal lovers spending upwards of $53 billion on food, veterinary care, kennels and other services in 2012.

click image to enlarge

Jenny Wilson hugs Honey Belle last summer in Alabaster, Ala. The American Pet Products Association’s President and CEO Bob Vetere predicts another 4 percent gain this year.

The Associated Press

That's up 5 percent from 2011, when spending first broke the $50 billion barrier, says the American Pet Products Association, a trade group based in Greenwich, Conn. And APPA President and CEO Bob Vetere predicts another 4 percent gain this year.

At about $34.3 billion, food and vet care represented about two-thirds of total spending, with money spent on supplies and over-the-counter medications rising by more than 7 percent. Spending on the growing market of alternative vet care, such as acupuncture, totaled about $12.5 billion.

Vetere said spending on services such as grooming, boarding and pet-sitting grew nearly 10 percent during 2012 to almost $4.4 billion.

 

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