Pet spending at all-time high.

• Position: Animal Care

The pet industry has doubled in size in the last 10 years, from $17,000,000,000 in 1994 to a projected $34,300,000,000 in 2004, growing larger than even the candy and toy industries. "More and more people consider and treat pets like children, and increases in spending reflect that trend," notes Bob Vetere, managing director of the American Pet Products Manufacturers Association.

Indeed, 84% of American pet owners say they regard their animal as a member of the family. Consequently, the days of newspaper-lined dog beds and grocery store pet food are gone--pet owners want the very best for their feathered or four-legged friends. Welcome to the world of cat massages, doggie day care, and low-carb pet food.

While pets are enjoying the perks of the rapidly growing industry, they also are eating healthier, receiving more affection, and living longer--and helping humans stay healthy as well. APPMA studies show that petting and talking to an animal lowers blood pressure and stress levels; aquarium viewing reduces stress; pet owners make fewer visits to the doctor; and pets increase the survival rate of people with heart problems.

Pet industry growth demonstrates that the human-animal bond is stronger than ever. "Pets provide us with unconditional love and affection," points out Vetere. "It makes people feel good to be able to provide something for them in return."

Remember, pets, like humans, need plenty of affection and...