Pet Food - Chile

Chile

Revenue in the Pet Food market amounts to €1.36bn in 2024. The market is expected to grow annually by 5.53% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€54,820m in 2024).
In relation to total population figures, per person revenues of €69.27 are generated in 2024.
In the Pet Food market, volume is expected to amount to 0.48bn kg by 2029. The Pet Food market is expected to show a volume growth of 3.0% in 2025.
The average volume per person in the Pet Food market is expected to amount to 21.5kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Pet Food market in Chile, within The Food market, is seeing minimal growth due to factors such as low consumer awareness and limited access to online services. Despite this, the market is still expected to experience gradual growth as more consumers prioritize their pets' health.

Customer preferences: The Pet Food Market within The Food market in Chile has seen a notable shift in consumer preferences towards more natural and organic pet food options. This trend is driven by a growing cultural emphasis on health and wellness, as well as a desire for higher quality ingredients for pets. Additionally, there has been a rise in demand for eco-friendly and sustainable pet food options, reflecting a larger societal trend towards environmentally-conscious choices. These shifts in consumer preferences are also influenced by the increasing number of pet owners who view their pets as integral members of their families and are willing to invest in their well-being.

Trends in the market: In Chile, the Pet Food Market is seeing a shift towards premium and natural pet food products, driven by the increasing awareness of pet owners towards their pets' health and wellbeing. This trend is expected to continue, as consumers are willing to pay more for higher quality products. As a result, industry players are investing in research and development to create innovative and healthy pet food options. This trend is also leading to the emergence of new pet food brands and a focus on e-commerce to cater to the growing demand. These developments have significant implications for pet food manufacturers, retailers, and online platforms, as they need to adapt their strategies to meet the changing preferences of pet owners.

Local special circumstances: In Chile, the Pet Food market is heavily influenced by the country's rich agricultural sector and its strong tradition of pet ownership. The demand for natural and organic pet food products is on the rise, as Chileans are becoming more health-conscious and are willing to pay a premium for high-quality pet food. Additionally, strict regulations on pet food imports and local production standards have created a competitive landscape, with domestic brands dominating the market. These factors contribute to the unique market dynamics of the Pet Food industry in Chile, setting it apart from other markets in the Food industry.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Chile is also impacted by macroeconomic factors such as consumer spending, inflation rates, and government policies. As the economy continues to grow and consumers have more disposable income, there is an increased demand for premium pet food products. In contrast, high inflation rates can lead to decreased consumer purchasing power, affecting the affordability of pet food. Additionally, government policies such as import tariffs and regulations on pet food ingredients can also impact the market's performance. These factors must be considered when analyzing the growth and trends of the Pet Food Market in Chile.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.