The US pet care market has proven to be recession resistant and has steadily grown at a compound annual growth rate (CAGR) of 6%, even during the economic slowdown of 2008-10. Spending on pet care was estimated to total US$50.8 billion in 2011 as compared to US$48.3 billion in 2010.
Domestic pets are taking up an increasingly important place in households worldwide. Pet owners are spending more and more on pet care across a range of sectors, including pet health, food and toys. According to the 2011-2012 American Pet Products Association National Pet Owners Survey, more than 60% of homes in the US have a pet, or close to 73 million households.
Cultural attitudes toward owning pets mean that domestic animals are viewed more and more as members of the family. Pet care spending was little affected by the economic recession, with owners cutting corners elsewhere rather than reducing their pet care budgets.
Nestlé Purina PetCare Co has maintained its leading position in the United States pet care market, owing to a strong portfolio of brands across dog food, cat food and pet products, with strong brand recognition.
Del Monte Foods Co increased its share to take second place, ahead of The Iams Co, Mars Inc and Hill's Pet Nutrition Inc. The leading players maintain a strong portfolio of brands across different price points and distribution channels.
For more information on the US pet care market, see the latest research: US Pet Care Market
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