Pet Products and Services Businesses Serve a Lucrative Industry

Pet Industry Sales and Marketing Trends and Statistics for Women in Business

Two things standout when you perform an Internet search for pet product marketing statistics: pet owners spend billions of dollars on pet products and pet care in the U.S. each year, and there are many pet marketing companies charging anywhere from $395 to thousands of dollars for pet market statistics.

Clearly, there is money to be made in the pet products and pet services industries, but there is no reason to pay big bucks for pet statistics, if you know where to look for industry trends.

In the period 2002 through 2007, sales in the pet food and supplies industry grew by 33%. Pet owners are more cautious about their purchases of pet food and other pet consumables as a result of the massive United States FDA pet food recall nationwide in March of 2007. Pet owners have shown a willingness to pay more for reliable, high-quality items, to keep their beloved pets safe.

Another area of industry growth in the pet markets is in luxury items. Pet owners still seem interested in purchasing “fad” items like colorful colors, clothing for pets (especially for dogs), and even fancy kitty-litter boxes.

According to the American Pet Products Association, in 2007, there were 71.1 million households (63% of all households) in the U.S. that owned at least one pet. And, Global Pet Expo reports that these same households spent $39.1 billion dollars on pet products and pet care, while Packaged Facts a consumer research company, reports that figure to be closer to $41 billion and projects pet sales to increase to $52 billion annually by the year 2009.

To put these numbers into a marketing perspective enticing to any would-be women entrepreneur:

• In 2007, pet owners spent double the amount they did on their pets in 1997.

• The pet market is the second fastest growing retail industry (second only to consumer electronics).

• Major companies including Procter & Gamble, Nestlé, and even Polo Ralph Lauren are now focusing on the pet market and contributed to an unprecedented growth in the number of new pet products launched in just the first half of 2007.

Additionally, pet owners spend more on pets than on:

• Video Games ($11.6 billion)
• Movies ($10.8 billion)
• Recorded Music ($10.6 billion).

Source:

American Pet Products Manufacturers Association. “New National Pet Owners Survey Details Two Decades of Evolving American Pet Ownership.” June 18, 2007.

Linda Vachata. “From Saunas to Lasagna: The Latest Products for Our Precious Pets.” The Arizona Republic. March 1, 2008: 12:00 AM