Cat ownership drives pet care growth in Latin America

Growth rates higher than global average

Unstable political scenarios in Latin America have affected consumption in several categories of fast-moving consumer goods. This was particularly noticeable in Brazil, Argentina and Venezuela, while the financial climate in Chile and Peru was less challenging. But the pet care market has remained resilient, growing faster than the global average – 7.2% annually between 2013 and 2018 versus a global rate of 3.4%.

In terms of total spending, the region ranks third behind North America and Western Europe but there is still significant room for growth. While North Americans currently spend around $140 (€119) per person on pet products, Latin American expenditure is only $20 (€17).

Why more cats?

Birth rates may be falling in most countries but pet populations are growing, particularly cats. One reason for this is urbanisation. Cats are more suited to smaller living spaces than dogs. Cats also require less attention (and no walking outdoors), making them less time-consuming. They consume less food too, even when compared to smaller dogs.