Pet Food - South America

South America

Revenue in the Pet Food market amounts to €10.63bn in 2024. The market is expected to grow annually by 7.41% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€55,400m in 2024).
In relation to total population figures, per person revenues of €25.74 are generated in 2024.
In the Pet Food market, volume is expected to amount to 7.72bn kg by 2029. The Pet Food market is expected to show a volume growth of 3.9% in 2025.
The average volume per person in the Pet Food market is expected to amount to 15.8kg in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Pet Food Market in South America is seeing minimal growth, influenced by factors such as consumer preference for more natural and healthy pet food options and the increasing popularity of homemade pet food. Despite this, the market is still expected to experience steady growth due to the region's growing pet population and rising disposable incomes.

Customer preferences: As South America continues to experience economic growth and a rise in urbanization, pet ownership is becoming increasingly popular in the region. This trend has led to a growing demand for premium, high-quality pet food options that cater to the specific dietary needs and preferences of pets. Additionally, there is a growing awareness among pet owners about the importance of nutrition and overall well-being for their furry companions. As a result, there is a shift towards natural and organic pet food products, as well as an increase in demand for functional pet foods that offer health benefits such as weight management and joint health. This trend is expected to continue as consumers in South America prioritize the health and well-being of their pets and seek out products that align with their own healthy lifestyle choices.

Trends in the market: In South America, the Pet Food market is experiencing a surge in demand for organic and natural pet food products. This trend is driven by the increasing awareness among pet owners about the health benefits of these products for their furry companions. Additionally, there is a growing trend of humanization of pets, leading to a demand for premium and specialized pet food options. This trend is expected to continue in the coming years, as more consumers prioritize the well-being of their pets and seek out high-quality and nutritious pet food options. This presents an opportunity for pet food companies to innovate and cater to these evolving consumer preferences, while also increasing their market share in the region.

Local special circumstances: In South America, the Pet Food market is heavily influenced by the region's diverse geography and cultural preferences. For instance, in Argentina, the use of high-quality ingredients and natural pet food is highly valued, while in Brazil, pet owners prioritize convenience and affordability, leading to the popularity of online pet food delivery services. Additionally, regulatory differences across countries, such as strict import regulations in Chile, affect the availability and variety of pet food products in the market. These unique factors contribute to the dynamic growth of the Pet Food market in South America.

Underlying macroeconomic factors: The Pet Food Market within The Food market in South America is also impacted by macroeconomic factors such as consumer spending, disposable income, and economic stability. Countries with robust economic growth and rising consumer spending are experiencing higher demand for premium pet food products. Additionally, government policies promoting pet ownership and pet humanization are further driving market growth in the region. However, economic instability and currency fluctuations in certain countries may hinder market growth and discourage consumers from purchasing expensive pet food products.

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.