The upcoming economic recovery foreseen in Latin America is already impacting the pet food industry positively. As the pet food market does not seem to be adversely impacted by global economic conditions, the industry continues its growth journey toward premiumization.
Chile, for example, has been actively introducing new pet food products into the domestic market, and imported premium pet foods make up a sizeable portion of recent launches. According to the Agricultural and Livestock Service of Chile, already to date in 2021, the Chilean government has authorized and registered 147 new imported pet food product varieties into the local market. Of those, 69% are dog food products, and the remaining, cat food products.
Within the premium segment in Chile, Royal Canin Argentina and Royal Canin Brasil are the most active companies, registering 32 new prescription products in the first quarter of 2021. A few belong to the VHN veterinary line and are focused on both dogs and cats.
Agro Industrias Baires S.A. in neighboring Argentina registered 26 new products in Chile in the first quarter of 2021. Most of their product portfolio is mid-priced and economy dog food.
The third most innovative premium pet food producer in Chile is United Pet Food France, which has listed 21 new products in 2021 under its brand Core. In fact, the company entered the Chilean market just this year with a wide-ranging portfolio intended for puppies, adult and senior dogs.
Following is Brit from the Vafo Group, a family-owned pet food producer in the Czech Republic, with 19 new varieties in the first quarter 2021. Most of their new product offerings are wet dog foods that combine meat chunks and pates.
Other companies such as Nestlé Purina and Hill’s Pet Nutrition have also registered new product varieties in Chile.
Overall, it is worth noting that most of the new pet food products belong to the premium and superpremium segments, suggesting that the Chilean market is firmly entering premiumization. In terms of innovation, Chile is likely the most developed pet food market in the region historically. The new product development wave in the first quarter of 2021 confirms such an assertion.
Iván Franco is the founder of Triplethree International and has collaborated on hundreds of research projects for several consumer goods industries. He was granted the Global Consultant of the Year award by Euromonitor International and authored the book 17 Market Strategies for Growth (in Spanish).
By Lindsay Beaton
Packaging continues to be a primary way for pet food companies to speak to their customers.
By Lindsay Beaton
Pet treat trends are largely following pet food trends as pet parents look to bond with their animals.