Pet Food - Peru

Peru

Revenue in the Pet Food market amounts to US$0.39bn in 2024. The market is expected to grow annually by 6.72% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$59,740m in 2024).
In relation to total population figures, per person revenues of US$11.39 are generated in 2024.
In the Pet Food market, volume is expected to amount to 260.90m kg by 2029. The Pet Food market is expected to show a volume growth of 4.8% in 2025.
The average volume per person in the Pet Food market is expected to amount to 6.1kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Market

Region

Region comparison

Currency

Analyst Opinion

The Pet Food Market in Peru has seen minimal growth due to factors such as slow adoption of pet ownership, low health awareness among consumers, and lack of convenience in purchasing pet food. Despite this, the market is slowly expanding due to growing disposable incomes and increasing pet humanization.

Customer preferences: As pet ownership continues to rise in Peru, consumers are becoming increasingly concerned about the health and wellbeing of their furry companions. This has led to a growing demand for natural and organic pet food products, as well as a focus on pet-specific diets and nutrition. Additionally, there has been a shift towards online shopping for pet food, as busy pet owners seek convenient and time-saving options. This trend is also driven by the increasing use of social media and online communities for pet-related advice and recommendations.

Trends in the market: In Peru, the Pet Food Market is experiencing a shift towards natural and organic pet food options, as owners become increasingly health-conscious about their pets' nutrition. This trend is expected to continue, driven by the growing demand for premium, high-quality pet food products. This has led to the emergence of specialty pet food stores and online retailers offering a wide range of natural and organic pet food options. Additionally, there is a rising awareness of the importance of pet health and wellness, leading to the introduction of functional pet food products that offer specific health benefits. These trends are significant for industry stakeholders as they provide opportunities for market growth and diversification. However, they also pose challenges for traditional pet food manufacturers, who may need to adapt their product offerings and marketing strategies to stay competitive in the evolving market.

Local special circumstances: In Peru, the Pet Food Market is heavily influenced by the country's diverse geography and rich cultural heritage. The Andean region, with its high altitude and cold climate, has a demand for pet food that is different from the coastal regions, which have a warmer climate and a strong fishing industry. Additionally, Peru's strict regulations on imported pet food have led to the growth of local pet food manufacturers. This unique mix of geographical, cultural, and regulatory factors has a significant impact on the dynamics of the Pet Food Market in Peru.

Underlying macroeconomic factors: The Pet Food Market within The Food market is affected by macroeconomic factors such as consumer spending, economic growth, and government policies. With rising disposable income and changing lifestyles, consumers are increasingly choosing pet food as a convenient and nutritious option for their pets. Additionally, favorable government policies and investments in the pet food industry are driving market growth in Peru. However, fluctuations in the national economy and changes in consumer preferences can also impact market performance. Moreover, the growing pet population and increasing pet humanization trend are expected to further fuel the demand for pet food in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.