Market Size of south america pet food Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 14.40 Billion |
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Market Size (2029) | USD 25.16 Billion |
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Largest Share by Pets | Dogs |
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CAGR (2024 - 2029) | 11.81 % |
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Largest Share by Country | Brazil |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America Pet Food Market Analysis
The South America Pet Food Market size is estimated at USD 14.40 billion in 2024, and is expected to reach USD 25.16 billion by 2029, growing at a CAGR of 11.81% during the forecast period (2024-2029).
14.40 Billion
Market Size in 2024 (USD)
25.16 Billion
Market Size in 2029 (USD)
12.01 %
CAGR (2017-2023)
11.81 %
CAGR (2024-2029)
Largest Market by Product
72.77 %
value share, Food, 2022
Pet owners prefer products such as dry and wet food for optimal nutrition, along with their regular usage for pets to meet daily dietary requirements, which increased its share.
Largest Market by Country
63.65 %
value share, Brazil, 2022
Due to Brazil's higher population, there is high consumer demand for quality pet food and wide product availability compared to other countries, thus increasing the market share.
Fastest-growing Market by Product
14.18 %
Projected CAGR, Pet Veterinary Diets, 2023-2029
The rising prevalence of pet diseases, increased awareness about pet health to support their well-being, and their importance in providing daily nutrition drive the usage of pet foods.
Fastest-growing Market by Country
15.88 %
Projected CAGR, Argentina, 2023-2029
The rising pet ownership rates, improving economic conditions in the country, and increasing disposable incomes among pet owners are driving the market's growth.
Leading Market Player
12.33 %
market share, Mars Incorporated, 2022
Mars, Incorporated is the market leader, primarily focusing on product innovations in the region and launching various pet food lines under the Royal Canin and Nutro brands.
Dogs held the major share due to significant transitioning from home-cooked food to commercial food along with the growing expenditures on dogs
- The South American pet food market increased by 80.7% between 2017 and 2022. The market's growth is associated with the changing economic and social landscape in the region, and the rapid increase in middle-class income levels has resulted in a surge in pet ownership and pet humanization trends, driving the demand for the pet food market.
- The dog food segment holds the largest share of the South American pet food market, with a market value of USD 7.97 billion in 2022. This dominance was associated with a significant number of pet owners transitioning from home-cooked food to commercial pet food in the region, along with the growing expenditures on dogs that increased by 33.8% between 2017 and 2022, leading to a growth of approximately 84.9% in this segment between 2017 and 2022.
- The cat food segment is expected to experience the highest growth rate in the South American pet food market, with a projected CAGR of 12.7% during the forecast period. This is owing to the significant increase in the cat population, which grew by 18.7% between 2017 and 2022. This rise in the number of cats has created a larger consumer base for cat food products. Cats are gaining popularity as pets due to their low maintenance requirements and cost-effectiveness compared to other pets.
- The other animals include birds, small mammals, rodents, and others. These animals have unique nutritional requirements that need to be fulfilled through specialized pet food products. This factor helped the pet food segment for other animals increased by 549.5 million between 2017 and 2022.
- The increasing awareness among pet owners and the growing population of pets in the region is expected to drive the pet food market during the forecast period.
Understand The Key Trends Shaping This Market
Increasing pet ownership and rising awareness about pet nutrition are driving the market, with Brazil as a dominant country
- The South American pet food market has experienced significant growth in recent years, driven by various factors such as increasing pet ownership, changing consumer preferences, and rising awareness about pet health and nutrition. The market accounted for about 7.1% of the global pet food market in terms of value in 2022.
- Brazil is the largest pet food market in South America, and it accounted for 63.6% of the market in 2022. The domination of Brazil is mainly due to its large pet population. As of 2022, it had a pet population of 156.4 million, accounting for about 58.5% of the South American pet population. With this large pet population, the Brazilian pet food market is anticipated to record a CAGR of 13.3% during the forecast period.
- Argentina is one of the major markets for pet food in South America, which was valued at USD 1.13 billion in 2022. The country's pet food market is shifting toward premiumization. The increasing pet population in the country is anticipated to drive the market at a CAGR of 15.8% during the forecast period, thus making it the fastest-growing market among other countries in the region.
- The Rest of South America held about 26.5% of the market in 2022. The pet population in the Rest of South America is growing, and the pet food market in the Rest of South America is anticipated to register a CAGR of 6.9% during the forecast period.
- The rising pet population, growing demand for premium foods, and increasing awareness about health concerns in pets are anticipated to boost the growth of the South American pet food market during the forecast period.
