Business owners, who spend more time with pets than their peers, are getting more attention and funding from venture capitalists, according to a report from the National Petcare Association.
The report, released Wednesday, found that the industry has grown as a percentage of overall sales by about 10 percent since 2007.
It’s the first time the industry’s share has surpassed the U.S. market.
It was about 7 percent in 2008, according the report, and now it’s more than 10 percent.
About 80 percent of the pet care industry is located in the United States.
The industry has been growing in popularity for a few reasons.
Pet owners can now get a discount on pet care services from the pet industry’s biggest trade group, the Pet Care Manufacturers and Associations, or PMA.
PMA president Michael R. Anderson said the group had no idea the industry would become so important to the U, or that its growth would be this rapid.
The PMA is the industry umbrella organization for more than 1,000 pet care companies.
Petcare services are provided by a number of different companies, but the majority of those are concentrated in the U., Anderson said.
That makes pet care more affordable for the average household, he said.
Pet care costs more for people who pay monthly premiums, he added.
Pet owner income is about 40 percent lower than it was in 2006, the PMA report said.
The number of pet care businesses has been declining for years, but this year the industry grew by 2 percent, according an analysis by Pet Care Aware, an advocacy group that tracks the industry.
That’s partly because pet owners are spending more time at home with their pets, said Laura Smith, the group’s director of pet services.
“It’s a different kind of pet ownership than we have been used to, and people are looking for ways to make that transition,” Smith said.
“Pet owners are now doing the right thing by their pets and their communities, which is really inspiring.”
Some of the best-known pet care firms in the world include A.B.P., which provides care for pets of all sizes; PetCare International, which specializes in cat care; and PetCare Home, which has a nationwide network of about 40 pet care centers.
PetCare has more than $2 billion in annual revenue and is growing rapidly, according a company spokesperson.
That growth is due to an increase in pet owners wanting to spend more money on their pets’ care, said CEO and founder Nancy Mancuso.
“We have more people who are choosing to take their pet into their home because they want to have a better quality of life,” she said.
About one-third of pet owners say they spend more on pet supplies than they would on other household goods, the survey found.
Mancoso said that pet care is a good investment for pet owners because it’s free and helps save on vet bills.
The survey also showed that pet owners have fewer complaints than their counterparts in the healthcare field.
That may be because pet care isn’t regulated by the federal government, according PMA CEO David J. Pomeranz.
Pomersonz said that the survey’s findings on pet health are a good indicator of how people feel about the industry, and that they have been impressed with the way the industry is growing.
POMERSONZ: People are starting to realize, in the pet ownership arena, that we can have a good quality of care.
It just takes time to get it right.
PPLUS: The pet care market has grown by 10 percent in the past decade.
PIMP: I think that’s an incredible amount of growth, especially when you look at the cost of health care, Pomeranes said.
Some of these things are the same things we see with other healthcare sectors.
“I think it’s great for pet care, and it’s a great time to be in the industry,” he said, adding that pet lovers are getting their pets the best care possible.
“If you look back, there was an epidemic of pet over-vaccination in the mid-2000s.
There was an inability to find good pet care providers in the area, and the pet overuse issue came about because people were putting too much stress on their dogs,” Pomerantz said.
In a survey conducted by the PPA, pet owners also said they want better access to care for their pets through the pet insurance marketplace.
PAPER: It is our hope that pet insurance will be a better option for pet lovers who don’t have insurance and that pet insurers will be able to provide the best quality care and coverage.
But, they need to understand that we do need to do this on our own.
I think we can do that with our own insurance companies and make it a lot easier for people to make the transition to pet insurance.