Whether or not a dog sees the humor in being dressed up as a hot dog for Halloween is up for debate What’s not debatable is that more people than ever will be outfitting their pets with creative costumes in 2012.

Americans are projected to spend approximately $370 million on costumes for their pets this Halloween season, according to a Time article.

The quickly growing pet costume trend has shown no signs of slowing down, with many pet owners spending their time and money to come up with creative costume ideas. According to Time, this year’s expected expenditure means a $70 million increase over 2012, and a 40% increase since 2010.

Pet costumes are even nipping on the heels of the kids’ costume market. This year, consumers are predicted to spend nearly one-third as much money on pet costumes as they spend on children’s costumes.

There are several possible reasons for the increasing popularity of pet costumes, according to Time. These include increased pet ownership numbers in the U.S., that it offers people a chance to give pets a human experience, and that it simply brightens owners days by making them smile.

So, what were the most popular costumes in 2011?

Time says the three most popular costumes last year were devils, hot dogs, and pumpkins.

Read the entire article at Time.com