Spending on pets is expected to increase

02/22/2012 | PetProductNews.com

Despite financial constraints affecting many Americans, the American Pet Products Association notes that cat and dog ownership increased from 163 million in 2007 to 180 million in 2011, and the organization predicts a 2.2% increase this year. Spending on pets will also jump this year, according to new market research, as estimators predict owners will spend a staggering $51.6 billion on services, including veterinarians. Expected areas of growth include funerals, insurance and food production.

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