Study: Americans Spent $56 Billion On Pets In 2013

CBS Boston

LOS ANGELES (AP) — Millions of pets across America live like little humans these days — and as long as people treat them that way, pet spending should keep climbing after a record 2013, industry spokesman Bob Vetere said Thursday.

Americans spent an all-time high of $55.7 billion on their pets in last year and spending will creep close to $60 billion this year, the president and CEO of the American Pet Products Association told buyers and exhibitors at the Global Pet Expo in Orlando, Fla. Overall pet spending has not dipped since record-keeping started, according to APPA, based in Greeenwich, Conn.

The biggest part of spending in 2013 — $21.57 billion — went for food — a lot of it more expensive, healthier grub. The not-for-profit trade association has been tracking industry figures since 1996, when total pet spending was just $21 billion. Adjusted for inflation, that’s $31.3 billion.

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