![]() ![]() While organic pet-food options have existed for at least a decade, some experts saw a surge in interest in alternative pet diets following a tainted pet-food scare in March 2007 when more than 100 brands of pet food were voluntarily recalled. pet-food revenue forecast for? this year, reports IBISWorld. Today, there are dozens of pet-food varieties labeled as “organic,” generating $2.9 billion a year in sales, or 12.4% all U.S. ![]() Humans can’t sniff out the differences in organic pet foodĬonsumers are more conscious of what they eat and some take similar care with their pets’ diets. See: Don’t let your pets eat your nest eggĢ. This can lead to a problem if pet owners spend more than they can afford on expenses like veterinary emergencies or pricey diets. In 2014 alone, it’s projected to grow another 5%.Īnd for those 44% of pet households with more than one pet, the costs balloon even more. From 2007 to 2009, during the recession, pet-industry revenue jumped 10%. The sector didn’t stumble during the recession, and it has maintained steady growth since 1994, the earliest data available, reports APPA. “A wider array of people are allowing their pets to play such an important role in their lives,” says Bob Vetere, president and chief executive of APPA.Īll of this pampering may help explain why the pet industry is one of the few believed to be resistant to economic downturn. That’s more than we spend at shoe stores ($32 billion) on video games ($41 billion) and even on private school tuition ($54 billion), reports industry-research firm IBISWorld. Consumers will spend $58.5 billion on them this year, projects APPA. As pet ownership grows, so does spending.
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