Pet Food - Colombia

Colombia

Revenue in the Pet Food market amounts to €1.18bn in 2024. The market is expected to grow annually by 4.63% (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 €22.50 are generated in 2024.
In the Pet Food market, volume is expected to amount to 0.78bn kg by 2029. The Pet Food market is expected to show a volume growth of 2.0% in 2025.
The average volume per person in the Pet Food market is expected to amount to 13.5kg in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Pet Food Market in Colombia has seen minimal growth due to various factors such as lack of consumer awareness, limited access to digital technologies, and traditional pet feeding habits. Despite this, the convenience of online pet food services is slowly driving market growth.

Customer preferences: As pet ownership continues to rise in Colombia, consumers are increasingly looking for premium and natural pet food options. This trend is driven by a growing awareness of the importance of proper nutrition for pets, as well as a desire to provide the best care for their furry companions. Additionally, with the rise of e-commerce and online shopping, there has been a notable shift towards purchasing pet food online, as it offers convenience and a wider variety of options. This trend is expected to continue, as more and more consumers prioritize the health and well-being of their pets.

Trends in the market: In Colombia, the Pet Food Market is experiencing a surge in demand for natural and organic pet food products, driven by a growing awareness of pet health and nutrition. This trend is expected to continue as consumers prioritize high-quality and healthy options for their pets. Additionally, there is a growing trend towards personalized and customized pet food options, with companies offering tailored diets based on an individual pet's needs. This trend is significant for industry stakeholders as it presents opportunities for innovation and differentiation in a competitive market. Furthermore, it could lead to an increase in sales and customer loyalty as pet owners become more conscious of their pet's well-being. However, this trend also poses challenges for smaller players in the market who may struggle to keep up with the demand for specialized products. Overall, the trajectory of these trends in the Pet Food Market in Colombia highlights the importance of adapting to changing consumer preferences and investing in product innovation to stay competitive.

Local special circumstances: In Colombia, the Pet Food Market is heavily influenced by the country's geographical and cultural diversity. With a wide range of landscapes and climates, different regions have varying preferences for pet food, leading to a diverse market. Additionally, the country's love for animals and strong pet ownership culture drives the demand for high-quality and innovative pet food products. Furthermore, the government's strict regulations on pet food ingredients ensure consumer safety and foster trust in the market.

Underlying macroeconomic factors: The Pet Food Market in Colombia is heavily influenced by macroeconomic factors such as consumer spending power, economic stability, and government regulations. With a growing middle class and increasing disposable income, consumers are increasingly able to afford premium pet food products. Additionally, government initiatives promoting pet ownership and pet health have led to a rise in demand for nutritious and high-quality pet food. However, fluctuations in the economy and changes in fiscal policies can significantly impact the purchasing behavior of consumers, potentially affecting the growth of the Pet Food Market. Furthermore, changes in import and export regulations and trade agreements can also play a significant role in shaping the market in Colombia.

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.