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The Argentina pet food market size is forecast to increase by USD 191.5 million at a CAGR of 2.6% between 2023 and 2028. The market witnesses significant growth due to the increasing domestication of animals and rising standard nutritional requirements. Protein components, such as enzymes, water, fat, and essential minerals, play a crucial role in pet food production. Manufacturers employ various processes like grinding, cooking, and mixing to create balanced and nutritious meals. Commodities, including agricultural-based products, fruits, and animal protein meals, serve as primary ingredients. Pet food prices are influenced by factors like the cost of raw materials and production processes. Innovative ingredients, including meat, meat byproducts, cereals, grains, specialty proteins, and essential nutrients like probiotics, antioxidants, vitamins, minerals, enzymes, and amino acids, are used to create nutritious foods for these animals. With the growing awareness of pet health, there is a rising demand for high-quality, species-specific diets, particularly for carnivorous species. Consequently, the carnivore segment is expected to witness substantial growth. Additionally, the trend toward organic and grain-free pet food is gaining traction due to increasing instances of pet allergies. Dry dog food, in particular, is popular due to its convenience and longer shelf life.
The market is witnessing significant growth driven by the increasing trend of pet humanization and premiumization. Pet owners are treating their pets as family members, leading to a higher demand for nutritious food options. This shift in consumer behavior is influencing pet food manufacturers to innovate and offer a wide range of products catering to various dietary needs. One of the key trends in the market is the use of organic and natural ingredients. Pet owners are increasingly seeking out pet food products made from organic and locally sourced ingredients. These ingredients not only provide essential nutrients but also ensure the absence of harmful additives. Another trend gaining popularity is the use of innovative ingredients such as probiotics and antioxidants. Probiotics help support a healthy digestive system, while antioxidants aid in boosting the immune system and maintaining skin and coat health. These ingredients are becoming essential components of pet food formulations. The market also caters to a diverse range of pets, including cats, dogs, birds, small mammals, and rodents. Each species has unique dietary requirements, and pet food manufacturers are responding by offering customized and personalized solutions. For instance, cats require a diet rich in protein, while dogs benefit from a balanced mix of proteins, carbohydrates, and fats. The market offers a variety of pet food options, including dry, wet, snack treats, and plant-based alternatives.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The dog segment is estimated to witness significant growth during the forecast period. In the United States, the market for pet food, particularly for canines, has experienced significant growth due to the increasing number of pet owners and their heightened focus on meeting the standard nutritional requirements of their domesticated animals.
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The dog segment was the largest segment and was valued at USD 823.10 million in 2018. This sector encompasses a range of commodities, including agricultural-based products, animal protein meals, fruits, and vegetables. The production process involves various stages such as grinding, cooking, and mixing to ensure the optimal balance of essential nutrients like protein components, water, and fat. Pet food manufacturers prioritize the inclusion of enzymes to aid digestion and enhance the bioavailability of nutrients. Hence, such factors are fuelling the growth of this segment during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growth of organized retail sector is notably driving market growth. The market is experiencing growth due to the expansion of organized retailing in the country. Vendors are expanding their distribution networks through supermarkets, hypermarkets, and pet-specialty stores to increase sales and revenue. These organized retail channels offer convenience to consumers, allowing them to select from a wide array of pet food options.
Major retailers such as La Anonima, Coto, Disco, Jumbo, and Carrefour are significant distributors of pet food products through hypermarkets and supermarkets. Health concerns for pets have led to an increase in demand for premium pet food, which is readily available at these organized retail outlets. In addition to pet food, grooming, daycare, and pet walking services are also offered at these stores, catering to the comprehensive needs of pet owners. Thus, such factors are driving the growth of the market during the forecast period.
Growing demand for organic pet food is the key trend in the market. In today's market, pet owners in the United States prioritize providing their beloved cats and dogs with nutritious and high-quality food. This trend has led to an increased demand for organic pet food, which is made using raw materials free from pesticides, fertilizers, and chemicals. This type of pet food is suitable for various domesticated animals, including cats, dogs, birds, fish, and mammals.
Organic pet food consists of plant ingredients, grown without pesticides, artificial fertilizers, genetic modification, irradiation, and sewage sludge, as well as animal ingredients sourced from animals raised on organic feed, given access to the outdoors, and not treated with antibiotics or hormones. Consumers are becoming increasingly conscious of the ingredients in their pets' food, mirroring the trend towards organic and natural food in human diets. Thus, such trends will shape the growth of the market during the forecast period.
Increasing instances of pet allergies is the major challenge that affects the growth of the market. The market faces challenges due to the rising number of pet owners experiencing allergic reactions from their pets. These allergies, often transmitted through contact with pet dander, saliva, and urine, can lead to health issues for humans, particularly children. While cat allergies are more common than dog allergies, the latter can cause more severe reactions.
The immune system of sensitive individuals may respond abnormally to proteins found in these pets' saliva and urine, leading to conditions such as asthma and allergic rhinitis. As the pet ownership culture continues to thrive in the US, with an increasing middle-class population opting for premium pet food, the demand for high-priced, specialty pet foods with extended shelf-life becomes more significant. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Colgate Palmolive Co: The company offers Hills Pet Nutrition that which provides nutrition for pets at every age, size, and needs.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a significant industry that caters to the nutritional needs of domesticated animals such as cats and dogs. Flavors and palatants are added to ensure that pets find the food appealing. Carnivorous species like cats require a high protein diet, with animal-based proteins being the primary source. Dogs, on the other hand, can consume both animal-based and plant-based proteins. The standard nutritional requirements for these animals vary based on their size, age, and health conditions. Pet owners prioritize providing their pets with a balanced diet, leading to the increasing popularity of premium pet food. The market offers a range of products, including dry and wet food, snack treats, and customized or personalized products.
Moreover, the pet food industry uses commodities and agricultural-based products, such as fruits, vegetables, and animal protein meals, to produce these foods. Pet food prices can be influenced by factors such as production costs, pet health concerns, and the growing trend of pet humanization and premiumization. Pet owners are increasingly seeking out high-priced products with extended shelf-life, special storage facilities, and customized nutrient profiles. The market also caters to the dietary needs of various animals, including birds, small mammals, rodents, and ornamental fish. The pet food industry continues to evolve, with a focus on addressing health concerns related to obesity, joint disease, lack of exercise, high blood pressure, diabetes, and osteoarthritis. The market also offers a range of pet products and services, including vet care, pet grooming, pet daycare, and pet walking. The industry serves a growing population of pets, with cats and dogs being the most common domesticated animals. The market is accessible through offline stores, online channels, and specialty stores. The millennial population's increasing pet ownership culture and pet expenditure have contributed to the industry's growth.
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Market Scope |
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Report Coverage |
Details |
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Page number |
136 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.6% |
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Market growth 2024-2028 |
USD 191.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
2.5 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Andritz AG, Colgate Palmolive Co., Grupo Molino Chacabuco, Harringtons Pet Food, heristo aktiengesellschaft, Mars Inc., Metrive, Natural Dog Food Co., Nestle SA, NutriSource Pet Foods, Pet Center Inc., Schell and Kampeter Inc., The J.M Smucker Co., Tiernahrung Deuerer GmbH, Wellness Pet Co. Inc., and WHITE MOUNTAIN GROUP |
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Market dynamics |
Parent market analysis, market report, market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Animal Type
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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