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Americans spent over US$53 billion on pets last year
Source: Agencies |
February 23, 2013, Saturday
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THE US economy may have remained sluggish last year but Americans refused to scrimp on their pets, with animal lovers spending upwards of US$53 billion on food, veterinary care, kennels and other services in 2012.
That's up 5 percent from 2011, when spending first broke the US$50 billion barrier, says the American Pet Products Association, a trade group. APPA President and CEO Bob Vetere predicts another 4 percent gain this year.
At about US$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 US$12.5 billion.
Vetere says spending on services like grooming, boarding, hotels and pet-sitting grew nearly 10 percent during 2012 to almost US$4.4 billion.
That's up 5 percent from 2011, when spending first broke the US$50 billion barrier, says the American Pet Products Association, a trade group. APPA President and CEO Bob Vetere predicts another 4 percent gain this year.
At about US$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 US$12.5 billion.
Vetere says spending on services like grooming, boarding, hotels and pet-sitting grew nearly 10 percent during 2012 to almost US$4.4 billion.
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