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Spending on pets nearing $50 billion mark

Americans may be cutting corners to cope with the crappy economy, but spending on pets appears healthy as ever, at least according the the American Pet Products Association’s latest report and poll.

Pet ownership is at an all-time high of 72.9 million households — about two of every three households, according to survey results released Monday.

The total number of pets — including 78 million dogs and 86.4 million cats– represents a 2.1 percent increase over last year, according to UPI.

The APPA’s annual report showed Americans spent more than $48 billion on their pets in 2010, an increase of of 6.2 percent over 2009, and it anticipates spending could top $50 billion in 2011.

The biggest surge in spending is expected to be in the area of veterinary care, with the APPA estimating $14 billion will be spent by pet owners in 2011.

More than 15 percent of dog owners, in fact, said their animal’s medical treatment would take priority over their own, according to a Reuters report on the poll.

Spending on treats, toys and accessories was up a reported 30 percent, from $56 million to $73 million. And the cost of buying a dog has also spiked from $121 to $364 due to the increased price of pure breeds.

“The pet industry continues to see unprecedented growth,” said APPA President Bob Vetere. “The survey reveals pet owners are willing to spend money on their pets despite a downturn in the economy.”

(Photo: Money sculpture by Justine Smith. To see more of her art visit justinesmith.net)

American dog population rises to 77.5 million

Americans are increasingly making provisions for their pets in their will, placing their pet’s medical needs over their own, and planning vacations around their pet — all signs that pets, more than ever, are considered part of the family, according to the American Pet Products Association (APPA).

The APPA has released its 2009-2010 National Pet Owners Survey, and it shows pet ownership at its highest level ever, with 71.4 million households in the U.S. owning at least one pet — 62 percent of all households.

Furthermore, during the past decade the current number of pet-owning households increased by 12 percent, up from 61.2 million pet-owning households in 1998.

According to the survey, there are 77.5 million dogs, 93.6 million cats, 171.7 million freshwater fish, 11.2 million saltwater fish, 15 million birds, 15.9 million small animals, 13.63 million reptiles and 13.3 million horses owned in the U.S.

“The findings in the survey clearly demonstrate the importance of the role our pets are playing in our every day lives. Two decades of trended data show that now more than ever people consider pets an important part of the family and are still providing for their faithful companions even in these trying times,” said Bob Vetere, president of APPA.

“As pet ownership continues to rise, so has the demand for quality products and services. This has led to an amazing evolution of innovative products and services that truly enhance the experience of owning a pet,” he added.

Since the inception of the APPA National Pet Owners Survey in 1988, dogs and cats have accounted for more than two-thirds of all households that own a pet. The actual number of pet owning households is significantly higher than it was twenty years ago, as is the overall number of U.S. households.

The survey showed 17 percent of dog owners have an electronic tracking device implanted in their dog, with the Western region having significantly more tracking devices than dogs in other regions.

The survey found dog visits to the veterinarian are up, averaging 2.8 visits a year. Thirteen percent of dogs and 21 percent of cats are considered obese or overweight by their veterinarian. When asked to indicate their priority if there was a choice between a large medical expense for themselves or their pet, 15 percent of dog owners would attend to their dog’s need before their own.

Seven percent  of dog, cat, bird and horse owners indicated they had made financial provisions for their pet in their will. One-third of dog, cat and bird owners and almost half of equine owners have named a caretaker or guardian for their pet in their will.

More than 20 percent of vacationing dog owners take their pet with them in the car when they travel. These owners take their dog on an average of five car trips per year. Three percent of dog owners take their dog to work at least more than once a month.

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