The American Pet Products Association bi-annual pet owner survey provides stats on pet ownership. According to the 2009/2010 survey, 71.4 million homes have a pet - 62% of all U.S. households. And there is a lot of money to be made in the pet market. Pet Spending has been on the rise for more than 10 years. In 1994, we spent $17 billion on our furry loved ones and now we spend almost $48 billion per year. The average spending on a dog is $1490 and for a cat it's only slightly lower at $1045.

The 2010 trends for the pet marketing include:

Reducing Your Pets Carbon PAW print - more organic foods and toys
Going to the Dogs - non-pet companies making goods for dogs like treats and clothing
Pets Welcome - more hotels adopting pet friendly policies
Pet Products Sold Here - more retail outlets selling pet supplies
Hello, My Name Is... - monogrammed accessories for your pals
State-of-the-Art - high tech gadgets like digitized collars and touch activated toys