Latin America Pet Snacks And Treats Market Size & Outlook
Latin America pet snacks and treats market, 2018-2030 (US$M)
Related Markets
Latin America pet snacks and treats market highlights
- The Latin America pet snacks and treats market generated a revenue of USD 3,252.4 million in 2023.
- The market is expected to grow at a CAGR of 12% from 2024 to 2030.
- In terms of segment, eatables was the largest revenue generating product in 2023.
- Chewables is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 3,252.4 million |
| Market revenue in 2030 | USD 7,178.1 million |
| Growth rate | 12% (CAGR from 2023 to 2030) |
| Largest segment | Eatables |
| Fastest growing segment | Chewables |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Eatables, Chewables |
| Key market players worldwide | Mars Group Holdings Corp, Nestle SA, JM Smucker Co, General Mills Inc, Colgate Palmolive, Nestle Purina Petcare, Spectrum Brands Holdings Inc, Wellness Pet Company, VAFO Group |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.9% of the global pet snacks and treats market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 12,074.4 million by 2030.
Eatables was the largest segment with a revenue share of 63.93% in 2023. Horizon Databook has segmented the Latin America pet snacks and treats market based on eatables, chewables covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing awareness about the benefits of owning a pet on one’s mental health has been encouraging more people across Central & South America to adopt pets. Pet companionship is known to help with loneliness and depression.
In addition, people are making conscious efforts to maintain the health of their pets by providing nutritious food and treats, a practice that will fuel the demand for pet snacks & treats. Many countries in Central & South America, particularly Brazil and Argentina, are home to a large variety of pet animals.
Leading pet food companies in the region are focusing on the expansion of their product portfolios and launching premium products. For instance, in 2022, Molino Chacabuco, one of the 10 largest pet food manufacturers in Argentina, announced the expansion of its flagship brand Raza, adding snacks, treats, and wet pet food for dogs and cats.
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Pet Snacks And Treats Market Scope
Pet Snacks And Treats Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America pet snacks and treats market size, by country, 2018-2030 (US$M)
Latin America Pet Snacks And Treats Market Outlook Share, 2023 & 2030 (US$M)
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