News Uk Owners Spend 6bn On Pets Says Pet Chain

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UK owners spend £6bn on pets, says pet chain
9th October 2014

By Sandra Pearce

UK pet owners will drive an estimated £6 billion of spending into the UK economy this year, according to a report from Pets At Home.

The Pet Report drew on a wealth of data from Pets At Home’s Very Important Pet (VIP) loyalty club database – made up of 2.5 million VIP members and more than seven million registered pets – and an annual survey of over 5,000 pet owners to provide a unique insight into the role pets play in the UK economy and consumers’ lives today.
 
The report says that the pet care market has grown by almost £1 billion over the past five years, despite the economic downturn. The report says the market is expected to grow further, by £800m in the next three years alone, as the economy recovers.

A main reason for this increased spending is that we are increasingly treating our pets as we would treat ourselves.

For instance, the pet food market is expected to grow to £2.6 billion by 2017, driven by advanced nutrition which gives dogs and cats a premium balanced diet with natural ingredients.

Meanwhile, 20% of UK pet owners have set up social media profiles for their pets, and nearly 90% share pictures of their pets online. Facebook is the most popular platform, followed by Instagram, Twitter, YouTube and Pinterest.
 
Pets at Home CEO Nick Wood commented:  “Our love of pets is good for the UK economy and this report provides definitive proof of this. For so many people, pets are an integral part of family life, and increasingly pet lovers are treating their pets as they would themselves, whether that’s through an improved diet or treating them to a visit to a groomer.
 
“The report shows the wide range of ways in which pet ownership benefits the economy. It’s about so much more than just pet food, and from travel companies to social media, pet ownership is a factor many companies have to incorporate into their strategies today.”
 
Other key findings include:
 
• In 2012, pet food and accessories accounted for approximately £3 billion, while services such as vets, grooming and insurance totalled approximately £2.5 billion. Pet services are expected to show strong growth through to 2017, with insurance estimated to grow by 9.3%, grooming by 4.1%, and small animal vet services by 3.2%.
 
• The health and hygiene market has grown from £289 million in 2006 to £334 million in 2012. It is predicted to grow to £380 million by 2017.

• The small animal vet market has grown by 2.3% each year since 2006, and between 2012 and 2017, is projected to increase at an annual rate of 3.2%.
 
• Owners spend £450 million a year taking their pets away. A third of owners holiday with their pet, and spend an average of £126 extra to keep their pet by their side, with one in six spending an additional £200 or more.
 
 The full report can be found at www.petsathome.com/petreport