SINGAPORE, March 26, 2013 /PRNewswire/ -- The world's pet markets have been enjoying dramatic growth with higher than ever pet ownership and spending. Traditionally, while the United States and United Kingdom have been the leaders of the world pet market, a number of other countries are emerging as global pet forces. Worldwide sales of pet related products and services reached US$81 billion in 2010, despite the global recession.
The growth of the growing world pet market can be attributed to the humanization of pets as more cultures view companion animals as beloved family members. China's pet industry, for example, took off within the last five years. Brazil is expected to become one of the largest pet food markets by 2014, second only to the United States. Other vibrant pet market growths are expected from India, Russia, Romania, Morocco, Thailand, South Africa, Indonesia, Slovakia, Venezuela, Mexico, Latin America, Japan and Vietnam. Industry trends suggest that the pet business will continue to boom in the future - from pet food to specialty pet services like grooming, pet sitting, pet friendly travel and more.
Almost 1 in 2 households in the United Kingdom includes a pet. The dog and cat populations in the United Kingdom are estimated to be around 8 million each. In the United States, there are about 77.5 million pet dogs and 93.6 million pet cats. Pet ownership is also increasing in other parts of the world. There is a lot more to the pet industry than dogs and cats. Pet owners today do not limit their connection with animals to dogs or cats alone. A wide range of other animals have found their way into the households and affections of pet lovers. Fish, birds, rabbits and hamsters for instance, have found their way into the households of pet lovers.Along with the growth of the pet population has been the phenomenal growth of pet superstores, estimated to have grown by 118%. Even in the face of economic downturn, global sales of cat and dog foods continue to grow. The pet product shopper base has continued to migrate into the higher-priced pet specialty channel. The growth of pet products for supermarkets and hypermarkets is estimated at 63%.