Latin America Pet Food Market Report and Forecast 2023-2028

Latin America Pet Food Market Report and Forecast 2023-2028
Market Outlook

According to the report by Expert Market Research (EMR), the Latin America pet food market reached a value of approximately USD 4.5 billion in 2022. Aided by the escalating pet ownership and the burgeoning demand for high-quality pet food, the market is projected to further grow at a CAGR of 4.63% between 2023 and 2028 to reach a value of USD 5.92 billion by 2028.

Pet food, an essential part of pet care, provides nutritional benefits necessary for the overall health and well-being of domestic pets, including dogs, cats, and birds. The increasing pet humanisation trend and the growing awareness regarding pet health are leading to a surge in demand for pet food. Pet owners are moving away from generic, mass-produced pet food and are leaning towards premium, specialised, and nutritionally balanced pet food products.

The escalating pet ownership in Latin America is a significant driver of the Latin America pet food market growth. The pet adoption rates are on the rise, driven by factors such as urbanisation, nuclear family structures, and the increasing awareness about the mental health benefits associated with pet ownership. Additionally, with higher disposable incomes, pet owners are more capable and willing to spend on high-quality pet food products, thus driving the market expansion.

The growing applications of specialised pet food in addressing health issues in pets also play a substantial role in propelling the Latin America pet food market development. Pet food manufacturers are developing products that cater to specific dietary requirements and health concerns such as obesity, digestive issues, and food allergies in pets. This focus on health-specific pet food products, combined with increased pet health consciousness among owners, fuels the market growth.

The rise of e-commerce in the pet care industry is another noteworthy trend contributing to the Latin America pet food market expansion. The convenience of online shopping, combined with the wide variety of pet food options available on online platforms, has boosted the sales of pet food through e-commerce channels.

Moreover, the pet food market is experiencing a significant shift towards organic and natural pet food products. With the increasing humanisation of pets, pet owners are seeking healthier, more natural food options for their pets. This trend has led to a growth in the demand for organic and natural pet food products, further driving the Latin America pet food market expansion.

Market Segmentation

The market can be divided based on pet type, product type, ingredient type, price category, distribution channel, and country.

Market Breakup by Pet TypeDog FoodCat FoodOthersMarket Breakup by Product TypeDry Pet FoodWet and Canned Pet FoodSnacks and TreatsMarket Breakup by Ingredient TypePlant DerivedAnimal DerivedMarket Breakup by Price CategoryEconomyMid-PricedPremiumTherapeuticNon-TherapeuticMarket Breakup by Distribution ChannelSupermarkets and HypermarketsSpeciality StoresOnline StoresOthersMarket Breakup by CountryBrazilArgentinaMexicoCompetitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Latin America pet food companies. Some of the major key players explored in the report by Expert Market Research are as follows: Mars Inc.Nestlé SAArcher Daniels Midland CompanyBRF SAMetrive S.A.Petfood Saladillo S.A.PremieRpetOthersAbout Us

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.