by: Carol Bryant, BlogPaws' PR Manager
Despite the recession, the pet market continues to grow. A report recently released by Mintel, independent provider of world-leading market intelligence, reveals that despite the turbulence affecting the economy in general, the pet market is worth over $49 billion in 2012 alone, which is a 15 percent increase since 2007.
This is good news for pet parents and also for pet bloggers. We are a trusted resource of disseminating pet product reviews, sharing pet news, and informing the general public about what to do for their pets in a host of categories: From health and wellness to pet travel and product recalls. We are the voice for and about pets. So what else did this report from Mintel reveal?
If you are a cat parent, you might bear your claws on this one, but , the bond between dog owners and their canine companions appears to be stronger than that of cat owners and their feline friends, at least in this survey. How so? A lower percentage of cat owners agree with nearly every statement asked concerning this bond compared to dog owners, except when it comes to pampering their pet. A total of 43% of cat owners pamper their kitty versus 38% of dog owners. BlogPaws believes that cat moms and dads would agree: the bond they share with their felines is at an all-time strong high.
“Pets have many needs that are similar to human family members, including food and medical care,” says Bill Patterson, senior market analyst with Mintel. “The strong bond between owners and pets offers significant marketing opportunities for manufacturers and retail outlets focusing on pet care and supplies.”
So where is the money being spent? Pet food leads the pack, not surprisingly, with a retail value of $18.1 billion spent on pet food sales in 2011. Veterinary services came in as the second-largest segment, generating over $12 billion annually.
According to the results of Mintel’s survey, only 8 percent of pet parents do no perform annual or regular checkups for their dogs or cats with 90% reporting paying close attention to both the health and behavior of their pets to ensure their well being.