Blended 2022 outcomes for 3 Latin American pet meals leaders

In 2022, the pet meals markets of Brazil, Mexico and Argentina posted combined outcomes. Inflation hindered pet meals consumption within the area, as an ample sector of shoppers is probably going delicate to abrupt worth will increase. Nevertheless, impacts have been assorted, in keeping with native sources.

Argentina: Uncooked supplies inflation hit the market

Argentina was doubtless the nation with probably the most important antagonistic results from excessive inflation. In accordance with a press report, the native pet meals market grew 1.4% in quantity phrases in 2022 in comparison with 2021. The article means that the upper costs for uncooked inputs throughout the 12 months, resembling meat, legumes and carbohydrates, impacted the value of pet meals merchandise.

Brazil: Regular development path amid inflation

In distinction, the Brazilian pet meals market elevated 7.5% in 2022 in quantity phrases, in keeping with Abinet, a commerce affiliation for the trade. On the identical time, the market worth rose 18.3% in nominal phrases. Seemingly, many of the worth development is attributable to excessive native inflation in pet meals. 

Abinpet additionally revealed that together with the wholesome native development, Brazilian pet care product exports elevated 5.6% in greenback worth phrases in 2022. It’s value mentioning that 94% of that quantity is pet meals. In the meantime, imports have been down 5.9% in greenback worth phrases in the identical 12 months, suggesting that Brazil’s sound pet meals manufacturing and advertising and marketing infrastructure substituted for imports effortlessly. 

Mexico: Inflation impacts but good prospects for restoration

Triplethree Worldwide revised its earlier 2022 knowledge as excessive pet meals inflation slowed native consumption. In accordance with the revisions, the pet meals market rose by 4% in quantity phrases, ending the excessive development momentum after the COVID-19 increase.

Though 2022 was not one of the best 12 months for the trade in Mexico, development nonetheless continued regardless of inflation. This implies that the pet meals market continues to depend on an ample and rising shopper base. Additionally, as native pet meals producers’ inflation is already down, quantity consumption may get well to return to its potential.