The Pet Industry: Food, Accessories, Health Products and Services
January 14, 2010
Wellesley, Mass. – According to a new technical market research report, THE PET INDUSTRY: FOOD, ACCESSORIES, HEALTH PRODUCTS AND SERVICES (FOD007J) from BCC Research (www.bccresearch.com), the U.S. market for the pet care industry and products was valued at an estimated $46 billion in 2009, and is expected to increase to $56.5 billion by the end of 2014, for a compound annual growth rate (CAGR) of 4.2%.
The pet food segment has the largest share of the market at $19.1 billion in 2009, and is expected to increase by 2014 to more than $23 billion, for a CAGR of 3.8%.
Veterinary care was the second-largest segment at $12.2 billion in 2009, and is expected to rise to $14.6 billion in 2014, for a CAGR of 3.7%.
The segment with the greatest projected 5-year rise in value is the Other Pet Supplies segment (including over-the-counter medicines), which is expected to grow from $11.3 billion in 2009 to $15.3 billion in 2014, for a CAGR of 6.4%.
SUMMARY FIGURE
PET CARE PRODUCTS AND SERVICES: CURRENT AND PROJECTED U.S. SALES BY SEGMENT, 2008-2014
($ MILLIONS)
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Source: BCC Research
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. 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.
This report analyzes developments in all animal segments, including bird, fish, small mammal, and reptile products. Sections of the report include: Pets and Their Owners, Pet Industry Overview, Pet Food Segment, Pet Services Segment, Pet Supplies Segment, and International Aspects.
Due to the increasing importance of international markets for U.S. manufacturers and retailers, the report includes an analysis of global trends, with an overview of key export markets for U.S. pet products.
The report is intended for executives and consultants in the pet food, pet supplies, veterinary, and other pet services segments of the industry. It will also be of interest to financial analysts, venture capitalists, and investors.
The Pet Industry: Food, Accessories, Health Products & Services( FOD007J )
Publish Date: Jan 2010
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