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 …
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