Mintel reports significant rise in companion animal market

Mintel, a global market research company for Europe, America and Asia reports a 15 per cent rise in the companion animal market in five years as retail sales of pets and related supplies and services producing consistent gains. 

According to Mintel, the pet market is worth more than $49 billion in 2012, up 15 per cent since 2007. With a retail value of $18.1 billion, pet food accounted for the largest share of sales in 2011 (37.8%). Veterinary services represented the second-largest segment generating over $12 billion annually. 

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