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Pet spending to shatter records in 2006, trade group reports

May 1, 2006

San Diego - Pet spending is expected to reach an all-time high this year of $38.4 billion with $9.4 billion going toward veterinary care.

SAN DIEGO — Pet spending is expected to reach an all-time high this year of $38.4 billion with $9.4 billion going toward veterinary care.

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The figures come from the American Pet Products Manufacturers Association's (APPMA) latest estimates on pet industry spending. Total spending in 2005 was more successful than projected with total sales of $36.3 billion, says APPMA, a trade group that has tracked pet-related sales for more than a decade. Broken down into segments, it appears veterinary care and other services had stronger than anticipated performances in 2005. Services such as joint-replacement surgeries, eye procedures and senior care helped fuel an 8-percent increase in veterinary spending since 2004, APPMA says.

Key demographic spending sectors include baby boomers and young professionals, the group adds.

According to the APPMA 2005-2006 National Pet Owners Survey, current basic annual expenses for dog and cat owners includes almost $800 for veterinary procedures.

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