The Market Insights Reports has added a new statistical data to its repository titled as, Mexico Pet Food Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The Mexico pet food market is projected to register a CAGR of 5.4% during the forecast period(2020-2025).
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Top Key Players in the Mexico Pet Food Market are Mars, Inc., Nestle Purina Petcare Company, Hill’s Pet Nutrition, Inc., LUPUS Alimentos, The J.M. Smucker Company (Big Heart Pet Brands, Inc.), and Blue Buffalo Pet Products, Inc., and others.
Key Market Trends:
Dog Segment Dominates the Market
The rapid rise in middle-class income coupled with an increasingly aging population is pushing the market further. Additionally, the pet humanization trend led to an increase in health consciousness and has generated demand for pet food. According to Pet Survey, in 2016, the dog population was 27,468.2 thousand which increased to 28,719.6 thousand in 2017. Also, in 2016, the retail sales of dog pet food were valued at USD 1,567 million that increased to USD 1,679.9 million in 2017. Furthermore, the sales increased to USD 1,963.8 million in 2019, whereas the sales of cat food accounted for USD 448.2 million during the same year. Among the dog food, the dry food segment accounted for the highest sale with a value of USD 1,406.5 million in 2016 to USD 1,753.6 million in 2019. Thus, indicating the growth of the segment.
Growing Import of Pet Food is Driving the Market
The market is driven by heavy influences from human nutrition, which is driving research to better and safer food for pets that have high nutritional and dietary benefits. Additionally, organic products and ethically-sourced products are propelling the market. Mexico’s import of pet food is growing steadily due to the growing pet adoption and health awareness. According to ITC Trade, in 2019, Mexico imported pet food of 49,490 tons which was valued at USD 104,628 Thousand compared to USD 90,024 thousand in 2016and is expected to grow further during the forecast period. The United States and France are the major exporter to Mexico in which the share of imports from the USA was 99.4 % in 2019.
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Highlights of TOC:
Market Overview: It starts with product overview and scope of the Mexico Pet Food market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Pet Food market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Pet Food market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Pet Food market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Pet Food report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Mexico and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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