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Report
Argentina Pet Food - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029
Market Report I 2024-02-17 I 284 Pages I Mordor Intelligence
The Argentina Pet Food Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 3.15 billion by 2029, growing at a CAGR of 16% during the forecast period (2024-2029).
The shift from home-cooked food to commercial pet food and the rise in pet humanization are driving the market
- Argentina is one of the major pet food markets in South America. It accounted for a 10.0% share of the region's pet food market in 2022, which increased by 171.9% between 2017 and 2022. This growth is due to the country's changing economic and social landscape, increasing pet ownership, and the pet humanization trend.
- The dog food segment has the largest share of the country's pet food market, with a market value of USD 810.5 million in 2022. It is anticipated to reach USD 2,385.4 million in 2029. This significant share and growth is associated with a significant number of pet owners shifting from home-cooked food to commercial pet food in the country. Dogs have a significant share of the country's pet population, as they accounted for 23.1% in 2022, whereas cats accounted for 10.3%. There is a growing trend toward premium dog food products.
- Cats held the second-largest share in the country's pet food market, accounting for 16.8% in 2022, which increased by 159.3% between 2017 and 2022. This growth is due to the increase in the cat population by 8.0% between 2017 and 2022, changing attitudes toward cats among pet owners, and the rise in popularity due to their low maintenance requirements.
- The other animals include birds, small mammals, rodents, and ornamental fish. These animals have unique nutritional requirements that need to be fulfilled through specialized pet food products. In 2022, they accounted for USD 150.9 million.
- The increasing usage of commercial foods, the rise in pet humanization, and the growing population of pets in the country are anticipated to drive the pet food market during the forecast period with a CAGR of 15.7%.
Argentina Pet Food Market Trends
Increased cat adoption in the country due to their adaptability to smaller living spaces and lower maintenance requirements
- In Argentina, dogs are more popular than cats as pets. Pet cats accounted for only 19.2% of the total pet population in 2022. The lower percentage of pet cats is attributed to negative stereotypes associated with them. For instance, the perception that black cats are a sign of bad luck has resulted in lower adoption rates of black cats. However, there was a 4.7% increase in the pet cat population between 2019 and 2022. This rise can be attributed to shifting attitudes among pet owners, who are increasingly recognizing the companionship and benefits that cats bring, particularly during extended periods of home confinement experienced during the pandemic.
- In 2020, about 31.4% of households in Argentina owned cats as pets. Unlike dogs, cats are well-suited to smaller living areas; therefore, they have become very popular among urban pet owners. Owning a cat is often more cost-effective than owning a dog, making it a more accessible choice for many households. As a result, there has been a steady increase in cat adoptions, leading to a growth in the overall cat pet population in Argentina.
- In Argentina, there is a growing trend of pet humanization, with pet owners prioritizing their pets' comfort and well-being. This trend is reflected in the increasing popularity of pet cafes, where customers may relax and interact with cats while enjoying food and drinks. There is a growing awareness of the benefits of pet ownership, and resources for cat care and maintenance are becoming more widely available. Therefore, the pet cat population in Argentina is expected to experience significant growth during the forecast period.
The higher consumption of premium pet food and growing awareness about the benefits of commercial pet foods are increasing pet food expenditure in the country
- In Argentina, the pet food market experienced an upward trend in overall expenditure, with a significant increase of 19.8% between 2019 and 2022. This surge may be attributed to the country's growing pet population, which increased from 44.3 million in 2019 to 46.3 million in 2022. Additionally, the retail sales value of premium dry dog food in Argentina witnessed a rise from USD 38.3 million in 2016 to USD 143.4 million in 2022, with a CAGR of 20.7%, reflecting the escalating demand for premium pet products.
- The expenditure on pet food per year for dogs in Argentina witnessed a significant increase of about 34.4%, while spending on cats increased by about 22.1%, and spending on other pet animals experienced an increase of about 12.9% between 2017 and 2022. The pet expenditure per animal per year in Argentina is USD 428.3, which is 6.4% less than the pet expenditure per animal in Brazil. This difference may be attributed to variations in pet ownership, market dynamics, and the purchasing power of pet owners in each country.
- In 2022, most people in Argentina preferred to buy pet food from stores, which made up 86.2% of all pet food distribution. However, the rising competitiveness among pet shops and superstores, the high listing fees imposed by hypermarkets, and due to the pandemic, e-commerce became more popular for pet food purchases, and its value in distribution increased from USD 51.8 million in 2017 to 156.9 million in 2022. The higher consumption of premium pet food and growing awareness about the benefits of healthy and nutritious pet food helped in increasing pet expenditure in the country.
Argentina Pet Food Industry Overview
The Argentina Pet Food Market is moderately consolidated, with the top five companies occupying 63.20%. The major players in this market are ADM, Agroindustrias Baires, Colgate-Palmolive Company (Hill's Pet Nutrition Inc.), Mars Incorporated and Nestle (Purina) (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Pet Population
4.1.1 Cats
4.1.2 Dogs
4.1.3 Other Pets
4.2 Pet Expenditure
4.3 Regulatory Framework
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
5.1 Pet Food Product
5.1.1 Food
5.1.1.1 By Sub Product
5.1.1.1.1 Dry Pet Food
5.1.1.1.1.1 By Sub Dry Pet Food
5.1.1.1.1.1.1 Kibbles
5.1.1.1.1.1.2 Other Dry Pet Food
5.1.1.1.2 Wet Pet Food
5.1.2 Pet Nutraceuticals/Supplements
5.1.2.1 By Sub Product
5.1.2.1.1 Milk Bioactives
5.1.2.1.2 Omega-3 Fatty Acids
5.1.2.1.3 Probiotics
5.1.2.1.4 Proteins and Peptides
5.1.2.1.5 Vitamins and Minerals
5.1.2.1.6 Other Nutraceuticals
5.1.3 Pet Treats
5.1.3.1 By Sub Product
5.1.3.1.1 Crunchy Treats
5.1.3.1.2 Dental Treats
5.1.3.1.3 Freeze-dried and Jerky Treats
5.1.3.1.4 Soft & Chewy Treats
5.1.3.1.5 Other Treats
5.1.4 Pet Veterinary Diets
5.1.4.1 By Sub Product
5.1.4.1.1 Diabetes
5.1.4.1.2 Digestive Sensitivity
5.1.4.1.3 Oral Care Diets
5.1.4.1.4 Renal
5.1.4.1.5 Urinary tract disease
5.1.4.1.6 Other Veterinary Diets
5.2 Pets
5.2.1 Cats
5.2.2 Dogs
5.2.3 Other Pets
5.3 Distribution Channel
5.3.1 Convenience Stores
5.3.2 Online Channel
5.3.3 Specialty Stores
5.3.4 Supermarkets/Hypermarkets
5.3.5 Other Channels
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 ADM
6.4.2 Agroindustrias Baires
6.4.3 Clearlake Capital Group, L.P. (Wellness Pet Company Inc.)
6.4.4 Colgate-Palmolive Company (Hill's Pet Nutrition Inc.)
6.4.5 FARMINA PET FOODS
6.4.6 General Mills Inc.
6.4.7 Mars Incorporated
6.4.8 Nestle (Purina)
7 KEY STRATEGIC QUESTIONS FOR PET FOOD CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
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