Business Opportunity: Pet Products & Services

Are you working on a doggy couture line? Have you created the most divine organic pet treat? Do you have the perfect plot of land picked out for a cat spa? Discovered an herbal remedy for doggy depression? The time is now!

Here are the trends that have lined up in your favor:

Nearly 63% of U.S. households, or 71 million homes, now own at least one pet.
Americans now spend $41 billion a year on their pets.
Americans spend more their pets than on movies, video games and music combined.
Annual spending on pet-related products is expected to hit $52 billion in the next two years.
As more people work outside the home, decide not to have children and/or to wait until they are older to have children, pets are increasingly becoming surrogate children and best friends.
Pets, mostly cats and dogs, are the companions of choice for single professionals, young couples, empty-nesters and childless couples, all of whom have more time and resources to spare.
Increasingly, people are treating their pets as they would people, catering to whims and emotions that we presume they have.
Science is discovering new and different ways to validate the human-animal bond.
Established brands in the pet supply industry, such as PetSmart and Petco, are shifting their product/service offerings from basic pet food and bedding to gourmet cuisine and on-site grooming, pet hotels and spas.
The annual compound growth rate for core veterinary services (not including over-the-counter drugs and other supplies) has been about 10% over the past decade.

Americans now spend $9.8 billion a year on vet services.

Americans spend an additional $9.9 billion on over-the-counter drugs and other supplies.

Pet owners now have an appetite for a variety of upscale and expensive products and services, as evidenced by the proliferation of pet gifts offered by the likes of Ralph Lauren and Hermes’.

Dog trainers like Cesar Millanâ€”better known to millions as Oprah’s Dog Whispererâ€”find that their expertise is suddenly in greater demand (Millan’s television show is No. 1 on the National Geographic Channel, his books, DVDs and product lines are best-sellers, and his famous Dog Psychology Center of Los Angeles is a favorite with Hollywood clientele.

Other in-demand products/services: Mobile pet-grooming vans, pedicure services, professional dog walkers, pet parenting classes, organic food and treats, pet training, pet daycare, pet sitting and massage therapy for animals.

Learn more about American pet owners, their spending habits and needs. Read the National Pet Owners Survey.

For more information on the pet products/services industry, visit the American Pet Products Manufacturers Association (APPMA) website.

Funding Fido: How Pet Owners Spend Their Money
Training/Professional Development:
Learn more about the industry. Grow your pet product/service business. Online courses.
Events: