There has been nearly a 10% increase in the number of pet shops in the UK over the past two years, according to a report.
Euromonitor says the amount spent on petfood and pet products is up 4% from last year, and it expects that growth to continue at the same pace for the next five years.
As pet owners are spending more on food, treats, fashion, grooming, walking services and pampering services for their pets, vendors are cashing in. New pet websites are popping up, selling anything from gourmet petfood to bargain products.
"More people treat their pets as a member of the family and are willing to give them nothing but the best," says Paula Flores, head of pet care research at Euromonitor. "There is a trend towards humanizing pets and wanting premium products so the market is still strong."
Flores said as pet ownership increases, so is the trend of keeping smaller pets. The number of French Bulldogs registered in the UK was up nearly 50%, Boston Terriers were up 11%, and Chihuahuas and Pugs were up nearly 5%.
For more about sustainability in petfood, watch Jan Hoijtink's Petfood Forum 2010 PowerPoint, "Corporate social responsibility: from whim to a matter of strategy."
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