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The South America Pet Food Nutraceutical Market is segmented by Pet Type (Dog, Cat, Bird, Fish, and Other Pet Types), by Ingredient Type (Milk bio-actives, Omega- 3 fatty acids, Probiotics, Proteins & Peptides, Vitamins & Minerals, and Other Ingredient Types) in countries such as Brazil, Argentina, and Rest of South America.
2016 - 2026
The South America pet food nutraceutical is projected to register a CAGR of 4.5% during the forecast period. The increasing number of single families, rising animal healthcare costs, aging pet population are leading consumers looking for alternatives in the form of natural and organic products. Supplements are used as alternatives to drugs, by the veterinary community. The addition of active ingredients based on intended functionality is making supplements therapeutic and nutritional treats. According to ABINPET, a pet industry association, Brazil is home to over 139.3 million pets in 2018 including dogs cats, birds, and fish, making it the fourth largest pet population worldwide The country pet owners are highly educated about their pet's needs and willing to invest especially in health-focused products such as nutraceuticals with the aim of keeping their pets around as long as possible. Some of the leading players in the market are Brazilian Pet Foods S / A., Purina PetCare, Archers Daniel Midland, Grupo Diana, Novotech Nutraceuticals, and Mars.
Nutraceuticals are categorized as dietary supplements, functional foods, or medicinal foods. Nutritional supplements for pets are products that provide a source of a recognized essential nutrients, like calcium or vitamin A. They are intended to work as supplements and ensure the nutritional completeness of the diet in pets. The supplements are being marketed not only as pills/powders but also as ingredients in pet foods/gravies/snacks. The other alternative delivery formats that are gaining shares, due to the preference for pet palatability, include gels and pastes, as well as gravies and powders, designed to be added to pet food.
|Milk bio actives|
|Omega - 3 fatty acids|
|Proteins & peptides|
|Vitamins & minerals|
|Rest of South America|
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An increase in the number of households owning pets and rising pet owners' preference for healthy and organic foods bundled with innovations in functionality are the key factors that have positively affected the pet food nutraceuticals industry. For Brazilians, pets are part of the family. ABINPET, a Brazilian Pet Industry Association, said that in 2018, there were 54.2 million dogs and 23.9 million cats in the country. According to press sources, nowadays Brazil has more households with a pet than homes with children, suggesting that pets are increasingly getting more attention, care, and affection. The population of Argentina was 45 million in 2018, according to Mars incorporated, about 78% of households own at least one dog, while 31% have at least one cat in 2018. Consumers are also willing to pay a premium for added-value pet food products that offer health and wellness benefits for their beloved animals. Fish oil, for example, can be found in premium pet foods, treats, and supplements to promote healthy skin and hair, which is a prime concern for owners.
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The pet food market is growing as there is an increase in the adoption of pets by younger people. In Brazil, nearly half of pet owners are now under 40, and this trend is likely to continue in years to come. This will show a positive impact on the companies in making pet products for these young owners, who are more likely to spend excessive amounts of money on their pets. According to Abinpet, the pet product manufacturer association in Brazil, in 2017, pet food consumption in Brazil reached 2.66 million metric tons, a 3.1 % volume growth compared to the previous year. Also with the pet population of 139.3 million, the pet products earned USD 3.92 billion, of which the largest share was from pet food which represented 73.9% of sales in 2018. According to Alltech’s data in 2016, Brazil, the second-largest dry pet food producer globally, 2.9 % with volumes of 2.5 million metric tons. Food production in the country has paved the way for the export of pet food. Additionally, according to ITC Trade, in 2019, Brazil exported USD 39.39 million as compared to USD 36.45 million in 2018. Uruguay, Chile, and Colombia are the major importers of pet food in 2019 with a share of 29.1%, 22.8%, and 16.2% respectively.
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The South America pet food nutraceutical market is highly consolidated and there are a limited number of players contributing to this sector. These players are Brazilian Pet Foods S / A., Purina PetCare, Archers Daniel Midland, Grupo Diana, Novotech Nutraceuticals, and Mars. The high market share of these players can be attributed to their large geographical presence and highly diversified product portfolios. These players are known to be focusing on R&D, large product portfolio, wide geographical presence, and an aggressive acquisition strategy. In 2017, Nestlé Purina opened a pet food manufacturing facility in Brazil. The new Purina site in Ribeirão Preto manufactures wet food for cats and dogs from the Friskies, Cat Chow, Pro Plan, and Dog Chow ranges. This investment will expand production capacity and also offers Brazillian pet owners with better services.
1.1 Study Assumptions & Market definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Ingredient Type
5.1.1 Milk bio actives
5.1.2 Omega - 3 fatty acids
5.1.4 Proteins & peptides
5.1.5 Vitamins & minerals
5.2 Pet type
5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Archer Daniel Midland
6.3.2 Nestle Purina
6.3.3 Grupo Diana
6.3.4 Novatech Neutraceutical
6.3.5 Brazilian Pet Foods S / A.
6.3.7 Hills pet Nutrition, Inc
6.3.8 Darling International Inc
6.3.9 DSM Nutritional
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19