From doggie day care, dog spas, gourmet pet food, to concierge veterinarian care, the pet industry is big business. Wildcatters are always on the lookout for growing trends and financial opportunities. Here are some interesting facts on one of the largest growing industries. Americans love their pets and they do not mind shelling out big bucks to indulge those animals.
According to the American Pets Products Association (APPA), here are some interesting facts on the pet industry:
- The APPA found that in 2016, U.S. pet owners spent an estimate of $62.75 billion on their furry (or scaly) friends.
- In fact, total U.S. pet industry expenditures have gone up every single year that the association has collected this data, which it began doing in 1994.
- Of the $60.28 billion spent on pets in 2015, $23.05 billion was spent on food alone.
- One economist estimates that spending on U.S. pet products is growing 50 percent faster than the overall retail sector.
- It’s estimated by APPA that 78 million dogs and 85.8 million cats are owned in the United States. Approximately 44% of all households in the United States have a dog, and 35% have a cat.
If you’re looking for a new treat for your four-legged friend, check out this original recipe for Wildcatter Dog Biscuits. It’s made with pet-safe HomePlate Peanut Butter, which is actually one of Wildcatter Network’s latest investments. This creamy, all-natural peanut butter was actually featured in the People Magazine article, Kate Upton Picks the Best Holiday Gifts for Pet Lovers. But make no mistake, while it’s pet safe, humans love HomePlate Peanut Butter too!