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Pet Market Sales Expected to Increase

The U.S. pet market experienced sluggish growth in 2010 due to lingering effects of the recession, but sales are expected to increase at a faster rate in the coming years, according to a report released this week by market research publisher Packaged Facts.

“U.S. Pet Market Outlook 2011-2012” looks at U.S. pet market retail sales and trends overall and in four core categories: veterinary services, pet food, non-food pet supplies and non-medical pet services. The report found that sales of all pet products and services rose 4.3 percent in 2010 to $55.07 billion. This 4.3 percent growth rate is modest compared to annual growth rates the industry has experienced over the last decade, according to Packaged Facts.

For example, Packaged Facts reported in its 2010-2011 outlook that the U.S. pet market grew 5 percent in 2009 to reach $53 billion. Sales of veterinary services increased the most in 2010 to reach $19.69 billion. Non-medical pet services experienced the second largest growth increase (5 percent) to reach $6.11 billion, followed by pet food, which increased 2.8 percent to reach $18.35 billion and pet supplies, which increased 2 percent to reach $10.92 billion.

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