Latin America Pet Food Market by Ingredient (Animal Derivatives, Fish derivatives, Fruits & Vegetables, Cereals & Cereal by-products, Fats & Oils, Vitamins & Minerals, Additives), by Animal Type (Dog, Cat, Bird, Other animals), and by Region
According to the report Latin America Pet food market, published by Market Data Forecast, the Market has been estimated at USD 7.55 Billion in 2016 and is projected to reach USD 10.64 Billion by 2021, at a CAGR of 7.11% during the forecast period from 2016 to 2021. Pet food is the feed given to the pet animals which includes plant or animal content.
The higher-quality ingredients in premium pet foods are more digestible and contain more usable nutrients. The better the digestibility, the more nutrients the pet will absorb in his system.
Foods with lower-quality ingredients are less digestible and move more quickly through the pet’s system.
Increasing pet ownership and rising per capita disposable income are the main factors that are driving the demand for pet foods in Latin America. Also, in recent times, there has been an increasing awareness about the benefits of pet foods that has made many pet owners shift to pet foods.
This is also one of the important reasons for a rise in demand for pet food. But, the market growth can be constrained due to less availability of raw materials and high cost of products.
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Latin America market for Pet food is segmented into ingredients, animal type and geography. Each of these segments are further sub segmented into, Ingredient: Animal Derivatives, Fish derivatives, Fruits & Vegetables, Cereals & Cereal by-products, Fats & Oils, Vitamins & Minerals, Additives; Animal: Dog, Cat, Bird, Other animals.
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Geographically Latin America market for Pet Food is segmented into Brazil, Argentina and Mexico. These three countries hold nearly 95 percent of the market volume of pet food.
Brazil dominated the market accounting for market share of 63% in Latin America region.
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The Latin America pet food industry is highly concentrated with ten major players together accounting for more than 50% of the market share and remaining market share distributed among the large number of small manufactures. Mars, Inc., Del Monte Foods, Hills Pet Nutrition, INC, Unicharm Corporation, Nippon Formula Feed Manufacturing Company LTD, Pet Center, Incorporated (PCI), Nestle Purina Pet Care, Nisshin Saifun Group INC. Natural Dog Food Company, Halo, Purely for Pets, Marukan CO. LTD., Nutrena, and Spectrum Brands, INC. are the major companies in the market.
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