Annual spending on pets reaches all-time high

Annual spending on pets reaches all-time high LOS ANGELES (AP) - Americans spent $50. com. Food and vet costs accounted for about 65 percent of the spending. But it was a service category -- one that includes grooming, boarding, pet hotels, pet-sitting and day care -- that grew more than any other, surging 7. " "I don't think this is a bad thing. I am proud of the owners," she said. 51 billion in 2010 to $3. 79 billion in 2011. APPA President Bob Vetere said 2012 should be another banner year for services, predicting it would grow 8. Owners are taking care of their pets, said Dr. APPA numbers indicate that animal sales and adoptions are flattening out as well as number of people who switched over to high-end food products is topping out. Pet ownership is becoming less of an impulse decision, Vogelsang said. "I can't tell you how many times I have had a pet come in as well as only reason (the owners) were able to afford catastrophic care is because they had insurance. It's literally a life-saver and I'm really glad people are embracing the concept," the veterinarian said. 85 billion on food, $13. 3 percent from 2010, when it totaled $48. 35 billion, Vetere said. He estimated 2012 sales would total $53 billion. In 2011, people spent $19. 01 billion on vet care, $10. 94 billion on supplies and over-the-counter medicines, $3. 51 billion on other services and $2. Jessica Vogelsang, a San Diego veterinarian and author of pawcurious. When they go on vacation, they want to make sure their pets are well cared for," she said. Spending in 2011 was up 5. Food sales did slow down, Vetere said, even though the 5. 14 billion on live animal purchases. 4 percent to an estimated $4. 11 billion in 2012. In 2010, they spent $18. Vogelsang believes the trend is toward "very specific items geared to the specific needs of pets. We are seeing a great deal of puzzle feeders for dogs -- not just toys but ones that are geared toward the mental needs of the animal. 1 percent growth. "They are planning ahead. 8 percent growth exceeded projections of 4. Included in the veterinary care category, insurance was estimated to be $450 million in 2011 and expected to grow to more than $500 million in 2012. 41 billion on vet care, $11. Annual spending on pets reaches all-time high Trade News selected by Local Linkup on 04/03/2012