Pet industry grows 5.4% in 2009

The American Pet Products Association released its annual review of spending data and reports, which shows that overall spending in the pet industry grew by 5.4% from 2008 to 2009 and is projected to increase by 4.9% in 2010 to US$45.4 billion.

The petfood sector was up by 3.6%, going from US$16.8 billion in 2008 to US$17.4 billion in 2009.

The continued growth for petfood is credited to pet humanization that can be seen in petfood trends following human food and diet trends.