Innovation Drives New Trends in Pet Products, Spending to Reach $48B on Pets in 2010

The U.S. pet market continues to grow, even in these challenging times. According to the American Pet Products Association (APPA), U.S. spending on pets is projected to reach $48 billion in 2010. 

It's a fact, consumers love their pets and never want them to be without the best. The pet aisle reflects this trend with new, innovative products hitting the shelves everyday.

"We're seeing more and more of the same trends in pet health, wellness and fun that we see in our own lifestyles," comments Don Tomala, managing partner of Matrix Partners, a leading advertising and PR firm specializing in pet products. "These days, we are constantly looking for newer and better ways to stay healthy, fit, and happy. These trends are just as important for pet parents and the products they buy for them."

According to the 2009/​2010 National Pet Owners Survey, 62% of U.S. households own a pet, which equates to 71.4 millions homes.  For 2010, it estimated that $47.7 billion will be spent on our pets in the U.S.  The breakdown for projected spending in 2010 is as follows: food, $18.28 billion; supplies/​OTC medicine, $11.01 billion; vet care $12.79 billion; live animal purchases $2.21 billion; pet services (grooming & boarding) $3.45 billion.

2010 Pet Products Trend Report, American Pet Products Association (APPA), 25 Mar. 2010  Web. 29 Mar. 2010.