BusinessWeek notes that The Pet Economy amounts to $41 billion a year:
That’s double the amount shelled out on pets a decade ago, with annual spending expected to hit $52 billion in the next two years, according to Packaged Facts, a consumer research company based in Rockville, Md. That puts the yearly cost of buying, feeding, and caring for pets in excess of what Americans spend on the movies ($10.8 billion), playing video games ($11.6 billion), and listening to recorded music ($10.6 billion) combined.“People are no longer satisfied to reward their pet in pet terms,” argues Bob Vetere, president of the American Pet Products Manufacturers Assn. “They want to reward their pet in human terms.” That means hotels instead of kennels, braces to fix crooked teeth, and frilly canine ball gowns.
I did not realize this:
APPMA reports that 42% of dogs now sleep in the same bed as their owners, up from 34% in 1998.
Or this:
About 77% of dogs and 52% of cats have been medicated in the past year, according to APPMA, an increase of about 20 percentage points from 1996. [...] Americans now spend $9.8 billion a year on vet services. That doesn’t include the over-the-counter drugs and other supplies, which add $9.9 billion in costs.
I can only imagine what people in the less-developed world must be thinking:
As many as 40% of dogs are estimated to be overweight or obese, with similarly high rates among cats, thanks to the indulgent habits of their owners.