Mexico Pet Insurance Market Size & Outlook, 2023-2030
Mexico pet insurance market, 2018-2030 (US$M)
Related Markets
Mexico pet insurance market highlights
- The Mexico pet insurance market generated a revenue of USD 206.7 million in 2023 and is expected to reach USD 717.1 million by 2030.
- The Mexico market is expected to grow at a CAGR of 19.4% from 2024 to 2030.
- In terms of segment, accident & illness was the largest revenue generating coverage type in 2023.
- Accident & Illness is the most lucrative coverage type segment registering the fastest growth during the forecast period.
Pet insurance market data book summary
| Market revenue in 2023 | USD 206.7 million |
| Market revenue in 2030 | USD 717.1 million |
| Growth rate | 19.4% (CAGR from 2023 to 2030) |
| Largest segment | Accident & illness |
| Fastest growing segment | Accident & Illness |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Accident & Illness, Accident only |
| Key market players worldwide | Trupanion Inc, Allianz SE, Direct Line Insurance Group PLC, MetLife Inc, Deutsche Familienversicherung, Anicom, Animal Friends Insurance, Figo Pet Insurance, Nationwide Mutual Insurance, Embrace Pet Insurance, Ipet Insurance, Pumpkin Insurance Services |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.8% of the global pet insurance market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil pet insurance market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 717.1 million by 2030.
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Pet Insurance Market Scope
Pet Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico pet insurance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pet insurance market will help companies and investors design strategic landscapes.
Accident & illness was the largest segment with a revenue share of 85.1% in 2023. Horizon Databook has segmented the Mexico pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico is a potential market for pet insurance due to the existing large population of companion animals. According to National Institute of Statistics and Geography, 70% of Mexican households have at least one pet.
Thus, Mexico is an untapped market with high potential. The pet insurance market penetration is comparatively less as compared to that in other developed economies. The growing trend of pet humanization in the country has led to the emergence of specialized pet insurance policies in Mexico.
Reasons to subscribe to Mexico pet insurance market databook:
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Target buyers of Mexico pet insurance market databook
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico pet insurance market , including forecasts for subscribers. This country databook contains high-level insights into Mexico pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico pet insurance market size, by coverage type, 2018-2030 (US$M)
Mexico Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
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