Interesting article in the Toronto Star this past week that I thought I would share. Title is ‘Americans spent $58B last year on their pets’. This is from the American Pet products Association’s annual report on pet industry spendings. Although this is American, Canadian is very close. The data comes from a variety of groups, market research studies and media reports.
The association measures 5 areas of spending. Last year people spent $22B on food, $15B on veterinary care, $14B on supplies, $4.8B on other services and $2B on animals themselves. A robust human-animal bond still exists especially with dogs and cats and people are doing more to prolong their pets’ lives. Trips however to the veterinarian were unchanged or slightly down last year. It can be very difficult to have pets live longer lives without making regular veterinary visits. Americans spent the most on food for their pets last year. Sales of the animals themselves dropped from $2.23 B in 2013 to $2.15 B in 2014 which was expected because spending in the catetory has fallen slightly each of the past several years. Adoptions at shelters and rescues are strong. As pets have become more important parts of US families spending on them has exploded. There has been more than a 3 fold increase since the group’s first survey was released in 1994. Spending grew 4.2% from 2013 to 2014.
We absolutely love our pets and it shows.