The Pet Industry
According to the 2015/2016 APPA National Pet Owners Survey, published by the American Pet Products Manufacturers Association, Inc., in 2014, approximately 79.7 million U.S. households reported owning a pet with an estimated pet population of 77.8 million dogs and 85.8 million cats.
In 2014, total pet industry expenditures reached $74.23 billion, and $77.03 billion is projected for 2015.
The pet industry is and has been one of only a handful of industries not significantly impacted by economic recessions. Additional statistics revealed in the APPA 2014/2015 Survey:
- 2014 U.S. retail sales of pet supplies were $43.8 billion.
- Increasingly, pets are considered to be members of the family and a growing and vauable source for companionship, relaxation and stress relief, etc. Approximately 65 percent of U.S. households own a pet and of those, 32 percent own more than one.
In general, there is strong competition for the “retail shelf space” especially as related to non-proprietary, commodity pet products. Over eighty percent of OurPet’s products are proprietary with patents or patent pending status. OurPet’s generally avoids non-proprietary, commodity products where price is the major consideration and copying is common. OurPet’s products are perceived as innovative, quality, upscale products selling at affordable prices.