IBISWorld has expanded its market research report collection to cover more industries within the growing Pet Care industry.
Los Angeles, California (PRWEB) September 03, 2011
The Pet Care industry has enjoyed strong revenue growth in recent years and is forecast to continue expanding in the years ahead, according to IBISWorld, the nation’s largest publisher of industry research. Even during the Great Recession, which led to the slowdown of the entire retail sector, the industry stayed strong on its positive growth path. This trend was mainly driven by an increasing number of pet owners treating their four-legged friends as members of the family. During the downturn, these “pet parents” cut back spending their personal spending first, before scaling down spending on their pets. For these reasons, IBISWorld has expanded its market research report collection to cover more industries within the growing Pet Care industry.
The Pet Care industry can be classified into nine main categories, all of which are now covered in depth by IBISWorld. The new industry market research reports available for purchase from IBISWorld include: Animal Training Services, Dog & Pet Breeders, Dog Walking Services, Dry Pet Food Production, Pet Accessories Stores, Pet Food Production, Pet Funeral Services, Pet Insurance and Pet Play Rooms. Rising pet ownership is expected to drive demand for these segments, boosting sales growth for the overall Pet Care industry. In addition, the improving economy will likely stimulate consumer spending, allowing customers to splurge on premium pet products and services.
Over the next five years, rising pet ownership and per capita disposable income levels will drive revenue growth. “Between 2011 and 2016, per capita disposable income is forecast to rise at an average annual rate of 1.9 percent,” says IBISWorld analyst Caitlin Moldvay. “Disposable income growth is expected to accelerate as unemployment falls and economic growth strengthens, which will positively affect industry sales as consumers splurge on higher-value pet care services.”
For more information, visit http://www.ibisworld.com/pet-care
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit ibisworld.com or call 1-800-330-3772.