Pet spending 'set to reach new highs'

Posted : 27-02-2008

Spending on pets is predicted to hit a new high over the course of 2008, it has been reported.

News agency Reuters reports that figures released by the American Pet Products Manufacturers Association (APPMA) suggest that roughly $41 billion (£20.85 billion) was spent on animals across the pond over the course of 2007.

The not-for-profit trade association predicts that this will rise to $43.4 billion as 2008 progresses as pet owners treat their pampered pooches and coddled cats to goods which may include designer clothing, gourmet food and pet health insurance.

"We're noticing more baby boomers are pet owners and they are treating their pets like members of the family. For empty-nesters, pets are filling a void in their lives and they're showing their appreciation to their pets," APPMA president Bob Vetere said in a statement.

Meanwhile, the eyes of the canine-appreciating world will no-doubt be focused on the planet's largest dog show, Crufts, which began yesterday.

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