Pet Supplements, Nutraceuticals Market Shows Healthy Growth
According to Packaged Facts, spending on supplements and nutraceutical treats is
expected to hit $1.7 billion by 2012. And that number could move even higher if
supplements gain further legitimacy through a formal, governmental regulatory
status. “It would be a real seal of approval,” says David Lummis, senior pet
market analyst for Packaged Facts. “It would imply an efficacy of products.”
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MediaPost Publications - Pet Supplements, Nutraceuticals Market Shows Healthy Growh - 02/01/2008
IT’S NO SECRET THAT AMERICANS are increasingly treating their pets like humans, but as the trend continues, spending on their health and well-being–particularly when it comes to supplements and nutraceutical products–is expected to increase nearly 40% over the next four years.
According to Packaged Facts, spending on supplements and nutraceutical treats is expected to hit $1.7 billion by 2012. And that number could move even higher if supplements gain further legitimacy through a formal, governmental regulatory status. “It would be a real seal of approval,” David Lummis, senior pet market analyst for Packaged Facts, tells Marketing Daily. “It would imply an efficacy of products.”
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Filed under: Main on January 31st, 2008