The Pet Industry
According to the 2017/2018 APPA National Pet Owners Survey, published by the American Pet Products Manufacturers Association, Inc., in 2016, approximately 84.6 million U.S. households reported owning a pet with an estimated pet population of 89.7 million dogs and 94.2 million cats.
In 2016, total pet industry expenditures reached $81.43 billion, and $84.95 billion is projected for 2017, according to the Packaged Facts U.S. Pet Market Outlook, 2017-2018.
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 2017/2018 Survey.
- 2016 U.S. retail sales of pet supplies were $47.8 billion. (Packaged Facts U.S. Pet Market Outlook, 2017-2018)
- Increasingly, pets are considered to be members of the family and a growing and valuable source for companionship, relaxation and stress relief, etc. Approximately 68 percent of U.S. households own a pet and of those, 32 percent own more than one. (APPA 2017/2018 Survey)
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.