Consumer spending in the United States pet market is suggested to reach a value of around $62 billion by the end of 2013, rising 4.7% over the 2012 value. The largest sector in the industry is veterinary services and pet food, both of which are forecast to reach sales of $21 billion by the end of 2013.
However, non-medical pet services--a smaller category that includes grooming, boarding, training, and pet sitting/walking services--is growing at the fastest rate, at 6.0% annually. While dogs account for two-thirds of sales in the overall pet products and services market, they are showered with 90% of the spending in this non-medical services category.
Although the country has not yet completely emerged from its economic funk, the pet industry continues to perform. Pet product shoppers were not immune to the Great Recession's effects, but the most recent Pet Owners Survey shows that they are becoming less price sensitive than in years past, a trend borne out in the sales data. Sales in mass channels such as grocery stores have been relatively flat, but pet owners have continued to migrate to pet specialty channels, which focus more on the high-end market.
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