A recent report by the American Pet Products Association showed how much Americans love their pets. Spending on these animals topped $58 billion in 2014 which includes everything from goldfish to dogs and reptiles. Americans care for a reported 397 million pets as found in the recent survey.
The American Pet Products Association gathered statistics from several areas and reported that Americans focus on five distinct areas when spending for their pets. Food accounted for the most money spent at $22 billion. Next was veterinary costs for keeping a pet which topped $15 billion. Supplies for the pets was third on the list at $14 billion. Almost $5 billion was spent on miscellaneous needs which includes grooming, pet sitting, training and other related expenses. Rounding out the list was $2 billion spent for the animal.
An interesting topic raised in the report centered around the spending on veterinarian care. While the $15 billion amount spend annually did not change much from previous years, the type of services provided did change. More expensive treatments were done on pets than in previous years possibly showing many pet owners will forego the costs in order to do what is best for their beloved pet.
Not surprisingly, pet food has jumped in quality with some of it even being considered good enough for humans to eat. Manufacturers are focusing on much higher quality of ingredients for pets including organic, sugar-free and low calorie food supplies.
The most shocking numbers from the report in 2014 was the increase Americans spent on pets overall. In the first year of the survey started in 1994, spending was just $17 billion. Twenty years later, the spending has tripled to over $58 billion with no sign of slowing down.