Favourable economic conditions underpin improved market performance
Growth in total pet care current value sales in Chile in 2012 was up on 2011, as was growth in total pet food volume sales. This improvement was underpinned by continued growth in Chile’s GDP, rising disposable incomes and other favourable economic indicators such as easier access to credit and the ongoing expansion of the middle income consumer base. These conditions supported further growth in the country’s pet population, while also encouraging owners to increase spending on their pets. Rising urbanisation, increasingly busy lifestyles and demographic trends such as shrinking household sizes also bolstered the development of the Chilean pet care market, as did new launches, improvements in distribution and marketing campaigns for leading brands.
Humanisation trend continues to bolster pet care spending
Favourable economic conditions in Chile in 2012 strengthened the pet humanisation trend, whereby owners are increasingly inclined to treat pets as family members and spend higher amounts on products to improve their health, happiness and general wellbeing. This trend, which is strongest among dog and cat owners, continued to bolster demand for more sophisticated and expensive products. These included premium pet food products that offered advanced nutritional benefits for specific breeds, animals at different life stages, pets suffering from common health problems etc. Similarly, pet humanisation continued to drive demand for dog and cat treats and gourmet-style flavour variants made from high quality ingredients. At the same time, this trend encouraged owners to increase spending on pet products, including non-essential or luxury items such as toys, clothes, beds etc.
Urbanisation and busier lifestyles fuel growth in the other pet population
Other pet food continued to show faster growth in total volume and current value sales than dog and cat food in 2012. While this was partly due to its ongoing emergence from a relatively low base, the category’s performance was also bolstered as various social and demographic trends continued to support healthy growth in the other pet population. Most notably, trends like urbanisation, busier lifestyles and population ageing encouraged more Chileans to adopt smaller pets that were easier to care for than dogs and cats, such as birds, fish, hamsters, rabbits etc. Smaller animals, especially small mammals, also proved increasingly popular as ‘first pets’ for families with young children.
Nutripro remains the clear leader in Chilean pet care in 2012
Nutripro SA continued to lead pet care in Chile in 2012. While its market value share was down marginally on 2011, it remained the clear leader overall thanks to its early mover advantages in key categories, its extensive distribution network and a longstanding reputation for offering high quality products at affordable prices. Sustained investment in innovation and highly effective marketing activities that play on the emotional connection between pets and their owners also helped to ensure that Nutripro remained Chile’s leading pet care player by a significant margin.
Outlook for pet care in Chile remains bright
The outlook for pet care in Chile is broadly positive. Growth in total pet food volume sales over the forecast period is expected to surpass that recorded during the review period as favourable economic conditions and various social and demographic trends continue to support healthy growth in pet ownership. Grow in total pet care constant value sales is projected to be slightly slower than during 2008-2013, mainly due to increasing price competition, but will remain strong overall as the humanisation trend continues to bolster demand for higher quality and more expensive products that can improve the health and happiness of pets. Innovation and increased investment in promotional activities will also help to sustain the positive development of the entire market.
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Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Chile with research from Euromonitor's team of in-country analysts.
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The Pet Care in Chile market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Pet Care in Chile?
- What are the major brands in Chile?
- How did the downturn affect pet care spending?
- Which is the best-performing category within pet care?
- Which is the fastest-growing pet food manufacturer?
- How have pet specialists fared in recent years?
- What are growth prospects for pet care in the next 5 years?
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Pet Care market research database.