The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Latin America Pet Food Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Latin America Pet Food Industry (2024-2030):
According to the latest report, The Latin America Pet Food Market size is estimated to grow at a CAGR of around 8.5% during the forecast period, i.e., 2024–30. The report demonstrates the prominent factors propelling the exponential growth of the Latin America Pet Food industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
· Historical Data: 2019-22
· Base Year: 2023
· Forecast Period: 2024-30
· CAGR (2024-30): 8.5%
What are the major Driver the Latin America Pet Food industry?
Rising Pet Adoption Drives Growth & Expansion of the Market – The surge in pet adoption across Latin America is indicative of a significant shift in societal attitudes towards pets, with dogs and cats increasingly being viewed as valued members of the family. This change is underscored by factors such as improving living standards and growing urbanization, which have led to greater disposable income and more conducive living environments for pets. Additionally, heightened awareness about the positive effects of pet companionship on mental and emotional well-being has further fueled this trend.
As pets become integral parts of households, there has been a corresponding increase in spending on pet care products and services. This rise in demand encompasses a wide range of products, including premium pet foods, specialized grooming items, and accessories catering to pets' comfort and well-being. Moreover, the proliferation of online resources and advice from veterinarians has empowered pet owners to become more knowledgeable about their pets' specific needs, driving the demand for tailored and high-quality pet care solutions.
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Latin America Pet Food Market Segmentation
The Latin America Pet Food Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Pet Type
- Dog- Market Size & Forecast 2019-2030F, Thousand Tons
- Cat- Market Size & Forecast 2019-2030F, Thousand Tons
- Fish- Market Size & Forecast 2019-2030F, Thousand Tons
- Birds- Market Size & Forecast 2019-2030F, Thousand Tons
- Others (Ferrets, Hamsters, etc.)- Market Size & Forecast 2019-2030F, Thousand Tons
- By Food Type
- Dry Food- Market Size & Forecast 2019-2030F, Thousand Tons
- Wet Food- Market Size & Forecast 2019-2030F, Thousand Tons
- Chilled & Frozen- Market Size & Forecast 2019-2030F, Thousand Tons
- By Form
- Pellets- Market Size & Forecast 2019-2030F, Thousand Tons
- Crumbles- Market Size & Forecast 2019-2030F, Thousand Tons
- Mash- Market Size & Forecast 2019-2030F, Thousand Tons
- Flakes- Market Size & Forecast 2019-2030F, Thousand Tons
- By Ingredients
- Animal-Based- Market Size & Forecast 2019-2030F, Thousand Tons
- Plant-Based- Market Size & Forecast 2019-2030F, Thousand Tons
- By Distribution Channel
- Online- Market Size & Forecast 2019-2030F, Thousand Tons
- Specialized Pet Store- Market Size & Forecast 2019-2030F, Thousand Tons
- Supermarket/Hypermarket- Market Size & Forecast 2019-2030F, Thousand Tons
- By Country
- Mexico
- Brazil
- Argentina
- Chile
- Rest of Latin America
As per the regional aspect, the Latin America Pet Food Market is expected to be dominated by Latin America by capturing the potential market share.
Explore further details about this research report - https://www.marknteladvisors.com/research-library/latin-america-pet-food-market.html
Top Companies in the Latin America Pet Food Market
Mars Incorporated, Nestle Purina, Hill's Pet Nutrition, Inc., Schell & Kampeter, Inc., Sera GmbH, Spectrum Brands Inc., ADM Animal Nutrition, Grupo Pilar S.A., Nicoluzzi Indústria de Rações Ltda, Elanco Animal Health Incorporated, Mogiana Alimentos S/A., Lenda Pet Food SL., and others
Latin America Pet Food Industry Recent Development:
2023: Hill's Pet Nutrition, launched new pet foods featuring MSC-certified pollock and insect protein, designed for pets with sensitive stomachs and skin. It is enriched with vitamins, omega-3 fatty acids, and antioxidants.
2023: Nestle Purina, introduced new cat treats, part of the Friskies Playfuls line, available in round shapes and flavors like chicken & liver and salmon & shrimp, ideal for adult cats.
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