Pet Food - Mexico

Mexico

Revenue in the Pet Food market amounts to €2.38bn in 2024. The market is expected to grow annually by 3.45% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€54,820m in 2024).
In relation to total population figures, per person revenues of €18.43 are generated in 2024.
In the Pet Food market, volume is expected to amount to 1.31bn kg by 2029. The Pet Food market is expected to show a volume growth of 0.4% in 2025.
The average volume per person in the Pet Food market is expected to amount to 9.9kg in 2024.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Pet Food Market in Mexico has been witnessing negligible growth due to various factors such as shifting consumer preferences towards healthier and natural pet food options, increasing competition from local and international brands, and economic slowdown in the country. Despite these challenges, the market is expected to grow as pet ownership continues to rise and owners become more aware of the importance of proper pet nutrition.

Customer preferences: As cultural attitudes towards pet ownership continue to evolve, pet parents in Mexico are increasingly seeking premium, all-natural and organic pet food options to ensure the health and well-being of their furry companions. This trend is also influenced by a growing focus on sustainability and ethical sourcing, as well as a rise in pet humanization. As a result, the pet food market in Mexico is experiencing a shift towards healthier and more environmentally-friendly products, with an emphasis on transparency and traceability in the supply chain.

Trends in the market: In Mexico, the Pet Food market is experiencing a shift towards healthier and more natural products, with a growing demand for organic and grain-free options. This trend is driven by the increasing awareness of pet owners about the importance of proper nutrition for their pets and the potential health benefits of natural ingredients. Additionally, there is a rising preference for premium and specialized pet food, such as breed-specific or age-specific formulas. These trends indicate a shift towards a more health-conscious and discerning consumer base in the Pet Food market in Mexico. This presents opportunities for industry stakeholders to innovate and cater to these evolving preferences, but also poses challenges in terms of production and sourcing of high-quality ingredients.

Local special circumstances: In Mexico, the Pet Food market is heavily influenced by the country's rich agricultural sector, as well as its diverse cultural heritage. With a large population of pet owners, the market is driven by a demand for high-quality, natural and organic pet food products. Additionally, strict regulatory standards and increasing consumer awareness about the importance of pet health and nutrition have led to a growing market for premium pet food options. These unique local factors contribute to the dynamic growth of the Pet Food Market in Mexico, setting it apart from other markets.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Mexico is influenced by various macroeconomic factors, such as the country's economic stability, government policies, and global market trends. Mexico's strong economic growth and stable political environment have attracted foreign investments, leading to a favorable market outlook. Additionally, the rising disposable income and changing consumer preferences towards premium and natural pet food products are further driving market growth. Moreover, the growing pet ownership in Mexico, along with the increasing awareness about pet health and nutrition, is expected to boost the demand for pet food in the country.

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.