At 5.6% CAGR, the South & Central America Pet Supplements Market is projected to be worth US$ 314.96 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the South & Central America pet supplements market was valued at US$ 226.57 million in 2022 and is expected to reach US$ 314.96 million by 2028, registering a CAGR of 5.6% from 2022 to 2028. The rising number of pet owners and strategic developments by key market players are the critical factors attributed to the South & Central America pet supplements market expansion.   

In recent years, increasing disposable income and growing interest of millennials, especially adults in their early 20s and late 30s, in pet adoption are supporting the pet culture. In addition, due to the onset of the COVID-19 pandemic, people were working from home and self-isolating; this change in lifestyle inspired households to own pets. Since there was no evidence that pets could contribute to the spread of COVID-19, people felt safe with an animal companion that provided mental and emotional support during the pandemic.

Along with increasing pet adoption, it has been observed that there is an increasing spending on pets for their wellbeing. Increasing consumer spending on pet care categories is attributed to the growing trend of pet humanization. Customers are increasing spending on premium pet food and products that are healthy and nutritious. There is a growing focus on pet health and wellness, sustainable products, and natural and locally sourced ingredients. Pet owners are also investing in special pet diets and indulgent products, which offer a better quality of life to their pets. Pet supplements help to improve the immune system and reduce the risk of heart disease, inflammation, cancer, and diabetes. In addition, these supplements also help to improve skin health and enhance the ability to reduce common health problems such as itchy skin, environmental allergies, and bacterial infection. Thus, the rising number of pet owners is boosting the demand for pet supplements.

On the contrary, stringent regulatory framework hampers the South & Central America Pet Supplements Market.  

Based on form, the South & Central America pet supplements market is segmented into chewable, powder and others. The chewable segment held 65.9% share of South & Central America pet supplements market in 2022, amassing US$ 149.20 million. It is projected to garner US$ 205.60 million by 2028 to expand at 5.5% CAGR during 2022–2028. 

Based on pet type, the South & Central America pet supplements market is segmented into dogs, cats, and others. The dogs segment held 78.3% share of South & Central America Pet Supplements Market in 2022, amassing US$ 177.32 million. It is projected to garner US$ 247.96 million by 2028 to expand at 5.7% CAGR during 2022–2028.

Based on distribution channel, the South & Central America pet supplements market is segmented into online and offline. The offline segment held 84.5% share of South & Central America pet supplements market in 2022, amassing US$ 191.54 million. It is projected to garner US$ 264.24 million by 2028 to expand at 5.5% CAGR during 2022–2028.

Based on country, the South & Central America pet supplements market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 46.2% share of South & Central America pet supplements market in 2022. It was assessed at US$ 104.68 million in 2022 and is likely to hit US$ 142.11 million by 2028, exhibiting a CAGR of 5.2% during 2022–2028.      

Key players operating in the South & Central America pet supplements market are Nordic Naturals Inc, Swedencare AB (NaturVet), WINPRO Pet, and Zesty Paw LLC, among others.

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