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The Business of Dogs [Infographic]

On average, American pet parents spend nearly $1,300 a year on their fur babies - nationwide, reaching $72 billion in just 2018. Even in times of economic hardship, the pet industry's large expenditures can make people understand why this market is so special.

Although the money may be very tight, pet owners will not spend their pets, and three-quarters say they are willing to make economic sacrifices to keep their pets happy and good. However, one-third of pets each year require emergency veterinary care, and even common health problems and procedures can be costly. Pet parents are starting to invest more in pet health than ever before, focusing on quality foods, sports, and even vitamin supplements to help reduce the damage and cost of pet medical emergencies. By 2022, the pet health insurance market is expected to reach a value of $2 billion to help pet owners take care of their pets and keep them safe without damaging the bank.

This infographic details the dog's business, how the pet industry maintains a recession, and what it means for pet care and the future of the economy.

The Business of Dogs