Some pets have their own vets, groomers, trainers, sitters and occasional walkers. All this suggests a bright future for an industry that has grown alongside the popularity of pets, expanding at a steady 4 percent to 6 percent a year since the American Pet Products Association started record-keeping in 1996.
Americans spent an all-time high $55.7 billion on their pets last year and spending will creep close to $60 billion this year, association president and CEO Bob Vetere told buyers and exhibitors at the Global Pet Expo in Orlando, Fla., on Thursday.
The biggest chunk of spending in 2013 - $21.6 billion - went for food - a lot of it more expensive, healthier grub. In 1996, total pet spending was just $21 billion. Adjusted for inflation, that's $31.3 billion.
The humanization of our pets started about 20 years ago, Vetere said in a telephone interview. As pets accepted their new perch in the family, manufacturers introduced products that helped animals move from the backyard to the front room.
"What is feeding a large part of the growth now are the baby boomers who have become empty-nesters and are looking for some other ways to find the love and affection they used to get from their kids," Vetere said.
"In the past, children were a reflection of us and people are now extending that to their pets," said Dr. Jessica Vogelsang, a San Diego veterinarian who owns the website pawcurious.com. People don't just bring their pets in for health reason anymore - they also want them to look good and smell good, she said. "From my perspective, it's a good thing. It's nice to see people care as deeply as they do."
People have always spent more on food than any other pet spending category and pet food trends follow human food and diet trends, according to Vetere.
That means if you are on a health kick, chances are your pet is too.
