Pet Food - Uruguay

Uruguay

Revenue in the Pet Food market amounts to US$45.94m in 2024. The market is expected to grow annually by 5.62% (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$13.42 are generated in 2024.
In the Pet Food market, volume is expected to amount to 17.18m kg by 2029. The Pet Food market is expected to show a volume growth of 1.2% in 2025.
The average volume per person in the Pet Food market is expected to amount to 4.7kg in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Pet Food Market in Uruguay is seeing minimal growth due to factors such as low adoption of digital technologies, decreasing health awareness among consumers, and limited availability of online services. This has resulted in a stagnant growth rate for the market, hindering its potential for expansion.

Customer preferences: Consumers in Uruguay are becoming more conscious of the ingredients and sourcing of pet food, opting for natural and organic options. This trend is driven by a growing concern for the health and well-being of their pets, as well as a desire to support sustainable and ethical practices. Additionally, there is a rising demand for specialized diets, such as grain-free or raw food, as pet owners become more aware of the potential benefits for their pets' overall health and longevity. These shifts in consumer preferences are also influenced by a growing pet humanization trend, where pets are seen as family members and their diet is given the same level of consideration as their own.

Trends in the market: In Uruguay, the Pet Food Market within The Food market is experiencing a surge in demand for organic and natural pet food products. This trend is driven by the increasing awareness among pet owners about the benefits of a healthier and more nutritious diet for their pets. As a result, there has been a rise in the number of pet food companies offering organic and natural options, as well as a growing number of specialty pet food stores. This trend is expected to continue, with potential implications for industry stakeholders such as increased competition and the need to adapt to changing consumer preferences.

Local special circumstances: In Uruguay, the Pet Food Market is heavily influenced by the country's rich agricultural sector and its strong emphasis on animal husbandry. The market is also shaped by the country's cultural preference for natural and organic products, leading to a growing demand for premium pet food options. Additionally, Uruguay's strict regulations on pet food production ensure high standards of quality and safety, which have contributed to the market's growth. These factors make Uruguay a unique market within the Pet Food industry, providing opportunities for innovative and niche products to thrive.

Underlying macroeconomic factors: The growth of the Pet Food Market is also influenced by macroeconomic factors such as consumer spending, disposable income, and changing consumer preferences. Countries with a strong economy and high disposable income are likely to see higher demand for premium and specialized pet food products. Additionally, increasing urbanization and the growing trend of pet humanization are driving the demand for high-quality pet food in both developed and developing countries. Furthermore, government policies and regulations related to pet food safety and quality can also impact market growth.

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.