Americans are spending more on their pets than ever before, and expenditures continue to rise. By 2020, the U.S. pet industry is expected to reach $96 billion in sales, according to Packaged Facts, a leading market research firm.

Approximately 56% of U.S. households own pets, and the close emotional bonds people share with their furry friends is a major driver of industry growth. To learn more about this and other trends, check out the article below, which highlights several key findings from the report U.S. Pet Market Outlook, 2016-2017.

Gift cards are a popular go-to option for shoppers of all ages. Not surprisingly, Christmas and birthdays are top occasions for purchasing gift cards. The most widely purchased gift cards are for coffee shops and restaurants, according to Packaged Facts, a leading consumer research firm.

Gift cards are a massive, multi-billion dollar industry in the U.S., but not all prepaid cards are purchased as gifts and stocking stuffers. A variety of prepaid cards are also used for government-administered benefits, employee rewards and incentives, and tax refunds. In addition, millions of consumers use prepaid cards as an alternative to traditional bank accounts.

Here's a look back at the top industry analysis pieces published on the MarketResearch.com blog in 2016.

Drawing on data from a variety of leading market research publishers, our most-read articles covered everything from telemedicine and genetic testing, to meal kits and food trends. 

The field of gene editing is expanding rapidly. A team of scientists in China recently injected CRISPR-edited cells into a human patient for the first time — potentially setting off a biomedical race between China and the United States, as reported in the international scientific journal Nature.

More significant developments are expected in the years to come. The global CRISPR market is forecast to grow at an astonishing compound annual growth rate (CAGR) of 35% from 2016 to 2022, according to Inkwood Research, a market intelligence firm. The number of scientific papers published on CRISPR continues to soar, from below 200 papers in 2012 to more than 1,200 papers in 2015.

The US airline industry features three types of carriers in terms of operating model: traditional carriers, low-cost carriers (LCCs), and ultra-low-cost carriers (ULCCs). ULCCs – largely represented by Spirit Airlines (Spirit), Frontier Airlines, and Allegiant Travel Company (Allegiant) – experienced impressive revenue growth over the 2010-2015 period.

In concrete production, water and cement react to bind together fine aggregates (primarily sand) and coarse aggregates such as crushed stone or natural gravel. A relatively small amount of water is needed to initiate this chemical reaction (hydration) to transform the ingredients into concrete. 

However, additional water is often required to make the mix workable enough to be poured and finished, and the addition of too much extra water can decrease the strength of finished concrete. Reduced durability in concrete can lead to a premature need for repairs or replacement in the residential and nonresidential building sectors, as well as in such public projects as highways, streets, bridges, and dams.

Technological innovation is transforming all aspects of the motorcycle production process, even the product testing phase. The development of new, state-of-the-art testing technologies allows companies to design and produce cutting-edge motorcycles that offer increased safety and superior performance.

Over the past few years, trends in three key indicators have taken hold of some of the larger markets for engineering services. These are:

• dynamic changes in natural gas and crude oil prices
• a surge in spending on nonresidential building construction
• an uptick in the retirement of coal-fired power plant capacity

The direction these indicators take going forward may significantly influence demand for engineering services in their associated market segments.

Consumer spending on professional services is projected to total almost $481 billion by 2020, representing yearly growth of 3.8% from 2015 levels. Positive economic trends will drive growth as consumers gain more disposable personal income and seek professional services for their financial and personal needs.

Many innovative technologies are changing how we access professional services. If you’d like to seek legal advice, chances are you can do it on your computer or mobile device. Many online services are also cheaper than traditional ones, leading established companies to change their marketing strategies and to offer services on a variety of platforms.

What market research trends should you expect to see in 2017? This blog post shares different perspectives from a wide variety of market research professionals, suppliers, and executives in the field.