Rich Couples

Americans are expected to spend $40.8 billion this year feeding, grooming, boarding, pampering, primping and otherwise caring for their pets.

The estimate, which is compiled by the American Pet Products Manufacturers Association, is a 38 percent increase over just five years ago.

The growth shows no signs of slowing as the total pet population continues to increase and more people view their pets as members of the family, not animals to be tied up outside or allowed to roam free.

Another statistic helps prove that point: More than 2 million people now have pet insurance, and the total is projected to increase to 5 percent to 7 percent of all pet owners by 2010.

Who’s spending all this money?

One pet industry consulting firm, Dillon Media LLC in Berkeley, Calif., says 60 percent of the entire pet industry is driven by people who don’t have children.

Another big demographic is people who are 55 to 64 years old. They spent $7.75 billion on their pets in 2005, a 127 percent increase from five years earlier, according to Dillon Media.

Various businesses and entrepreneurs in the Capital Region are cashing in on the trend toward giving animals, especially cats and dogs, top-notch treatment.

source BizJournal