The Latin America Pet Food Market is projected to grow at a CAGR of 7.43% in the forecast period of 2022-27, says MarkNtel Advisors in their research report. The market is driven by the mounting adoption of pets, coupled with the increasing demand for high-quality & premium pet food for the health & well-being of the pets.
Additionally, with the growing inclination toward trends like personalization & customization of pet food and the concept of pet humanizations, pet food manufacturers are introducing new sales & production strategies to expand their scalability and promote market growth across Latin America.
Besides, the increasing concerns & focus of health-conscious pet owners, their demand for transparency in ingredients, and stringent regulatory standards to ensure high-quality pet food is generating remunerative opportunities for the market players offering customized & specially formulated food. Hence, it is another prominent factor driving the market, further states the research report, "Latin America Pet Food Market Analysis, 2022."
Pet Food Supplies for Dogs to Dominate the Market through 2027
The higher adoption rate of Dogs in the region than other pets and the rising focus of pet owners on maintaining their dogs’ weight & overall health are the prime aspects contributing to the maximum demand for pet food for Dogs.
For the better health of dogs, people across Latin America are swiftly increasing the demand for organic and premium pet food, i.e., free from synthetic hormones, colors, flavors, antibiotics, toxic pesticides, etc., and quality & nutritionally rich, respectively.
Besides, the emerging trend of pet humanization in dogs, coupled with the high expenditure on their maintenance & well-being, is drawing the focus of dog owners on premium, personalized & customized pet food, thereby boosting the market.
Brazil to Attain the Largest Share of the Latin America Pet Food Market during 2022-27
The rising pet ownership and the growing focus & awareness about pet health are the most prominent factors driving the pet food market in Brazil. Besides, most food companies of the country rely upon the US for different pet food ingredients. However, since pet food falls under a highly regulated manufacturing spectrum, all ingredient suppliers must be registered under government regulatory bodies & federations to further export supplies in Brazil for producing high-quality & nutritious pet food. Nevertheless, specialized outlets offering pet food with natural ingredients & gaining an extensive customer base is another crucial aspect driving the market across Brazil, reveals MarkNtel Advisors in their research report, "Latin America Pet Food Market Analysis, 2022."
According to MarkNtel Advisors, the leading players in the Latin America Pet Food Market are Mars Petcare, Nestle Purina, Hill’s Pet Foods, Natural Dog Food Company, Diamond Pet Foods, Sera, Spectrum Brands Holdings, Whiskas, ADM Animal Nutrition™, and Others (GEPSA, Total Alimentos, etc.).
Key Questions Answered in the Study