Americans spent $18.11 billion on veterinary care in 2018March 22, 2019The American Pet Products Association (APPA) says veterinary care remains the second highest source of spending in the pet care community. According to the association's annual industry-wide spending figures, money spent on veterinary care totaled $18.11 billion, surpassing growth in any other category at a rate of 6.1 percent. Figures in 2019 are expected to reach $18.98 billion, an increase of 4.8 percent over last year's figures. The APPA says the frequency of veterinary visits has likely increased due to lower prices, making pet care more available to a broader customer base. "Millennials continue to be the largest pet-owning demographic and this shows in the data," says APPA president and CEO, Bob Vetere. "We know this generation is willing to pay more for quality services to improve the health and well-being of their pets. Today more than ever, pet owners view their pets as irreplaceable members of their families and lives, and it's thanks to this that we continue to see such incredible growth within the pet care community."
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APPA president and CEO Vetere to retireJune 14, 2018Bob Vetere, president and CEO of the American Pet Products Association (APPA) will retire following Global Pet Expo 2019 in March. Steve King, president of the Pet Industry Distributors Association (PIDA), has been chosen by the APPA board to be Vetere's successor. King will join APPA in January 2019; both will work together to ensure a smooth transition. Vetere has headed APPA since 2002. Under his leadership, APPA's membership has grown from 668 to 1,270 current members, according to the association. He has led several pet industry-wide initiatives and is credited with establishing the Human Animal Bond Research Institute, the Pets Add Life Campaign, and the Pet Leadership Council. He was honored at Global Pet Expo 2016 with the Rolf C. Hagen Hall of Fame Award for his achievements in the pet industry and also received the Pet Industry Joint Advisory Council Chairman's Award of Excellence. "On behalf of the board of directors, I want to thank Bob for his dedicated and exceptional leadership of APPA for 16 years," said APPA chairman Kevin Fick. "Bob's passion for this industry …
Petplan releases Pet Insurance 101 guideJune 14, 2018Petplan pet insurance data shows that one in three pets will need emergency veterinary care each year, and with average costs in the thousands of dollars (see "Petplan's top 10 most common claims and costs" below), pet insurance can be more beneficial than a savings account, which may not have enough money to cover the most common ailments. Some pet owners may be aware of pet insurance, but they may not understand how it can help keep pets healthy and budgets intact. Written specifically to help pet owners understand the growing pet insurance industry, Petplan's Pet Insurance 101 guide is available now at insurance.gopetplan.com/pet-insurance-101. The free guide walks pet owners through a pet insurance personality quiz and a checklist to determine what kind of pet coverage best suits their pets' needs. Facts, figures, and FAQs provide benchmarks to help consumers make the best choice for their unique situation. "About 95 percent of pet parents consider their pets to be part of the family,"* said Keith Guse, Petplan's director of content. "Even though two million cats and dogs are protected by pet insurance in North America, it's estimated that 99 percent of pets are still uninsured.** We created …
Amazon enters the pet food arena with dry kibbleMay 7, 2018Everyone wants a bite of the pet food market, including Amazon, which just this week launched its own brand of dog food, Wag. According to the American Pet Products Association, Americans spent $32 billion on pet food in 2017, and competition among online and brick-and-mortar retailers isn't slowing any time soon. Wag, available to Amazon Prime customers, comes in chicken, beef and lentil, and salmon varieties, and contains no added grains, according to the online retailer. The dry kibble comes in 5-pound bags for $12.99 and 30-pound bags for $44.99, and a 15-pound bag for puppies for $26.99. Amazon's guarantee of quality statement claims that all its pet food is manufactured in the U.S., with U.S. and imported ingredients (but doesn't specify countries of origin), and each serving is comprised of 35 percent protein. The company plans to offer additional products at a later date, said spokesperson Nell Rona.
Pet industry hits close to $70B in spending for 2017March 27, 2018Pet owners spent $69.5 billion on their companions in 2017, according to the latest figures from the American Pet Products Association (APPA). Pet food accounts for the single greatest source of spending, veterinary care spending remains the second highest at $17.07 billion, up 7 percent from 2016. The latest pet industry spending figures were announced at Global Pet Expo, an annual pet products trade show presented by APPA and the Pet Industry Distributors Association (PIDA). APPA's annual comprehensive industry figures report covers pet spending in the market categories of food, supplies/over-the-counter medications, veterinary care, live animal purchases, and other services. "It's incredible to not only see growth for the pet industry in general, but also to experience growth across all categories—with the exception of live animal purchases, which remained the same," said Bob Vetere, APPA president and CEO. "Talk to any pet owner and they'll tell you how difficult it is to put a dollar limit on what they'd spend to give their loyal companion a happy life, and it's this outlook that continues to drive growth." Spending on pet food continues to be the highest source of dollars spent, with spending …
Time Inc. latest corporation to reap pet, veterinary industry rewardsSeptember 12, 2017The lure of the lucrative pet products industry is hard to resist—even for a content king like Time Inc., which is launching PetHero, a paid membership program that leverages a network of veterinarians that belong to Pet Assure pet owners' club. Time Inc. claims it engages with more than 100 million pet owners and pet lovers through its pet-related content platforms. With the pet products and services industry surpassing $66 billion in 2016 and expected to exceed $70 billion by 2020, according to the American Pet Products Association, it comes as little surprise that the media giant is looking to take greater advantage of what this sector offers. How the PetHero program works PetHero membership plans begin at $20 per month for one-pet households and $25 for multipet households. After purchasing a plan, PetHero members receive a 25 percent discount on in-house veterinary services from more than 5,600 participating veterinary practices, a 15 percent discount on all products purchased through PetCareRx.com, seasonal gift boxes with pet toys and treats, and expert veterinary advice. The discounts on health care costs apply to all pets regardless …
