Many of the trends driving pet food market growth in Latin America are similar to those around the world. However, three trends are expressed strongly in those parts of the western hemisphere where Spanish and Portuguese are the most frequently spoken languages, Alberto Trueba of Euromonitor said during his presentation at Foro Mascotas 2023 in Guadalajara, Jalisco, Mexico on June 1. Affordability and value, premiumization and targeted wellness have influenced the Latin American pet food market especially.
Key trends play out in Latin American pet food
In Peru, the pet product retailer SuperPet launched the private label Nath line to meet pet owner demands for dog and cat foods that provide good value for the money, Trueba said. Nath is priced at the lower end of the premium segment but still offers natural ingredients, fruit and herb extracts and meat as its first ingredient. Premium pet foods at affordable prices may be a key to pet food product success with Latin American pet owners.
Premiumization has been one of the most important trends in pet food worldwide for years. Brazilian pet food company Saudavel offers premium pet foods and treats positioned as natural and organic, Trueba said. The company has expanded its presence in food, drug and mass market channels, along with pet specialty retail outlets, in southeast Brazil. While premium pet food is still a relatively small category in Latin America, the segment has growth opportunities, especially in e-commerce and with younger pet owners who don’t have children, he said.
Latin American pet owners want their premium pet foods to meet specific health and wellness needs for their dogs and cats, Trueba said. For example, Brazil-based PremieR has aimed to position itself as a leader in formulations specifically for indoor dogs. The formulations are meant to address issues faced by dogs that spend much of their time indoors. To back up their marketing, the company offers a 110% money-back guarantee if pet owners are not satisfied. In Mexico, Pet Markt launched the Advance brand as a premium therapeutic cat food meant to support cats with kidney problems. The formulation helps prevent the formation of oxalate kidney stones, while maintaining a cat’s muscle mass. Products with clear benefits claims are gaining traction in the Mexican market, he said.
