Report : South and Central America Therapeutic Dog Food Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Dry Food, Wet/ Canned Food, Snacks/ Treats, and Others), and Application (Weight Management, Digestive Care, Allergy and Immune System Health, and Others)
The Dry Food Segment to Dominate South and Central America Therapeutic Dog Food Market during 2021-2028
According to a new market research study on “South and Central America therapeutic dog food market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Product Type, Application and Country,” is expected to reach US$ 737.41 million by 2028 from US$ 521.77 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report provides trends prevailing in the South and Central America therapeutic dog food market along with the drivers and restraints pertaining to the market growth. Incrementing dog adoption for companionship, growing prevalence of chronic diseases among dogs and launch of novel therapeutic dog food products are major factors driving the growth of the South and Central America therapeutic dog food market. However, low sales in developing countries may hinder the growth of South and Central America therapeutic dog food market.
Changes in pet ownership are the long-term consequence of the COVID-19 pandemic in South and Central America. Home seclusion and isolation are driving pet population growth. Also, to mitigate the pet abandonment situation, some governments have implemented a few actions to help street dogs. In Perú, provincial governments are installing pet food dispensers on the street to periodically feed street dogs. In Bolivia, the government is supporting shelters with supplies of pet food during the quarantine period. In Colombia, authorities launched a campaign nationwide to protect pets, and the local governments are requesting donations of frozen pet food. Such initiatives undertaken by the Government are expected to bolster the growth of the therapeutic dog food market in South and Central America.
The market for South and Central America therapeutic dog food is segmented into product type, application and country. Based on product type, the market is segmented into dry food, wet/canned food, snacks/treats, and others. In 2021, the dry food segment held the largest share in South and Central America therapeutic dog food market. Based on application, the South and Central America therapeutic dog food market is divided into weight management, digestive care, allergy and immune system health, and others. The digestive care segment is expected to be the fastest growing segment over the forecast period. Based on country, the South and Central America therapeutic dog food market is segmented into Brazil, Argentina and rest of South and Central America. In 2021, Brazil held the largest share in South and Central America therapeutic dog food market. Furthermore, in this present scenario of COVID 19 pandemic, the South and Central America therapeutic dog food market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South and Central America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for therapeutic dog food.
Mars Incorporated; Nestlé.; Hill's Pet Nutrition, Inc; Blue Buffalo Co., Ltd. (General Mills, Inc.); and Affinity Petcare S.A. are some of the leading companies in the South and Central America therapeutic dog food market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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