The Pet Industry: Food, Accessories, Health Products & Services

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The Pet Industry: Food, Accessories, Health Products & Services

Research report on the US Market for The Pet Industry: Food, Accessories, Health Products & Services. Includes forecasts through 2014.

HIGHLIGHTS

* In 2008, Americans spent more than $43.7 billion on pet supplies and services. This figure is projected to approach $46 billion in 2009 and $56.5 billion by 2014, a compound annual growth rate (CAGR) of 4.2% from 2009 through 2014.
* Pet food is the largest segment of the market, with sales of $19 billion in 2009. While market share is expected to slip to less than 41% by 2014, the market value of pet food products will increase to $23 billion in 2014, a compound annual growth rate (CAGR) of 3.8%.
* Nonfood pet supplies make up the fastest-growing segment of the market, with a projected compound annual growth rate (CAGR) of 6.4% over the next 5 years. This segment was valued at $11.3 billion in 2009 and in expected to reach $15.3 billion by 2014.


INTRODUCTION

REASONS FOR DOING THIS STUDY

The pet industry is a major segment of the U.S. economy. In 2008, American pet owners spent more than $43 billion on their small companions, and in 2009, this figure is expected to surpass $45 billion. Since BCC published its last report on the pet industry in 2006, continued growth in all segments of the pet industry has provided an opportunity for both existing players and new entrants. A growing number of players, as well as consolidation among manufacturers, retailers, and service providers, and globalization of the American economy have transformed the maturing pet industry into a dynamic, highly competitive environment. This BCC Research report analyzes these new developments and their potential impact on the future of the pet industry.

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