Companion Animal Businesses Prove To Be Recession Proof

Despite economic troubles, businesses related to companion animals continue to receive steady business. According to research firm IBISWorld, U.S. companion animal businesses are anticipated to reach over $51 billion in sales in 2009, an increase of 1.3% from 2008.

Growth in the companion animal business sector is attributed to the perception of animals as family members and strong emotional attachment. According to IBISWorld, companion animal stores are expected to reach nearly $11.5 billion in sales, companion animal food production is expected to reach $15.2 billion and companion animal grooming/boarding is anticipated to generate $2.7 billion in sales during 2009.

The costs associated with ownership of a dog or a cat over 13 years is estimated at $13,300 and $8,500, respectively. The initial cost outlay of having a companion animal accounts for less than 3% of the total, while food comprises 28-29% of total, and veterinary bills can add up to 10-22% of the total cost of ownership.