20 November 2008

The UK's pets are being spoilt by their owners despite the economic downturn, according to recent research.

A study by Mintel, market analyst, has revealed that animal lovers are likely to spend £484 million on pets this year.

As the credit crunch deepens, figures show that pet owners have increased their spending on animals by four per cent.

Animal healthcare and pet accessories appear to be popular areas for spending with sales of products experiencing a 19 per cent increase in the last five years.

Harry Foster, senior market analyst at Mintel, stated that the figures reflect the nation's love of animals.

"Britain really is a nation of pet lovers and spending on our furry friends is one area we feel really reluctant to cut back on," he said.

Research by Denplan has revealed that when money is tight pet owners are more likely to cut back on their own private healthcare bills rather than their pets.