Latin America Pet Food Market

Latin America Pet food Market Size 2022 - 2027:

Latin America Pet food market has been estimated at USD 8.29 Billion in 2021 and is projected to reach USD 11.69 Billion by 2026, at a CAGR of 7.11% during the forecast period from 2022 - 2027.

Pet food is the feed given to the pet animals which includes plant or animal content. The higher-quality ingredients in premium pet foods are more digestible and contain more usable nutrients. The better the digestibility, the more nutrients the pet will absorb into its system. Foods with lower-quality ingredients are less digestible and move more quickly through the pet’s system.

Increasing pet ownership and rising per capita disposable income are the main factors that are driving the demand for pet foods in Latin America. Also, in recent times, there has been an increasing awareness about the benefits of pet foods that have made many pet owners shift to pet foods. This is also one of the important reasons for the rise in demand for pet food. But, the market growth can be constrained due to less availability of raw materials and the high cost of products.

LATIN AMERICA PET FOOD MARKET REPORT COVERAGE:

Market Segmentation:

Latin America Pet food Market – By Ingredient:

• Animal Derivatives

• Fish derivatives
• Fruits & Vegetables
• Cereals & Cereal by-products

• Fats & Oils
• Vitamins & Minerals
• Additives

Latin America Pet food Market – By Animal: 

• Dog
• Cat
• Bird
• Other animals

Geographical Analysis:

• Brazil
• Argentina
• Mexico

These three countries hold nearly 95 percent of the market volume of pet food. Brazil dominated the market accounting for a market share of 63% in the Latin America region.

Key Players:

The Latin America pet food industry is highly concentrated with ten major players together accounting for more than 50% of the market share and remaining market share distributed among a large number of small manufacturers. Mars, Inc., Del Monte Foods, Hills Pet Nutrition, INC, Unicharm Corporation, Nippon Formula Feed Manufacturing Company LTD, Pet Center, Incorporated (PCI), Nestle Purina PetCare, Nisshin Saifun Group INC. Natural Dog Food Company, Halo, Purely for Pets, Marukan CO. LTD., Nutrena, and Spectrum Brands, INC. are the major companies in the market.