Dublin, Nov. 08, 2021 (GLOBE NEWSWIRE) -- The "Chile Pet Care Market Size, Share & Analysis, by Category (Dog Food, Cat Food, Other Pet Food, Cat Litter, Pet Healthcare, Pet Dietary Supplements and Others), By Pet Food Type (Dry Food, Wet Food, Pet Treats) Forecast and Opportunities, 2021-2025" report has been added to ResearchAndMarkets.com's offering.
Chilean economy was in vulnerable position and saw economic contraction of over 4% in the quarter before the onset of Covid 19 and the pandemic severely affected the country further, especially in the first half of 2020.
According to the Central Bank of Chile, the country witnessed negative GDP growth of over 5.8% in 2020. This triggered fiscal stimulus package form the government with announcement of stimulus package of USD 11.8 billion (4.7% of GDP) to tackle the economic impacts of Covid-19 pandemic in 2020.
The package focused on three main pillars: boosting healthcare system, implementing measures to protect against income loss and reduction and providing support to SMEs through tax measures. These measures helped the economy to record recovery and it is expected to record GDP growth of 4.75% to 6.25% for 2021.
The impact of pandemic was felt across the industries however, FMCG and pet care showed resilience and posted positive growth and with the improvement in economic outlook, the pet care industry will remain attractive.
Chile Pet Care Gains Further:
According to this report, pet care industry continued its growth momentum despite challenges like Covid 19 pandemic and reduction in GDP growth.
As per Agriculture and Livestock Service of Chile, as of 2021, the Chilean government has authorized and registered 147 new imported pet food products in the local market. Of those, 69% are dog food products and remaining cat food products. Country's pet care industry benefits from humanization of pets and downward birth rate trends and recorded year on year growth of over 5% in 2020.
In terms of segment performance, dog treats and cat treats segments outperformed wet and dry dog and cat food segments as with the continuance of work from home, pet owners spent more time with their pets and ended up rewarding their pets with more premium products thus helping the treats to register higher year on year (YoY) growth in 2020.
New Product Launches:
Chile witnessed 8 new product launches in dog and cat food category with dog food accounting for over 62% of these launches. In cat food category, Champion SA launched a new premium cat food under Champion Cat Naturals brand containing 35% high quality proteins and essential amino acids for the development of the cat body. The new launch is aimed at cat owners who are keen to feeding premium products to their cats.
Competitive Landscape:
Premium dog food brand Cannes has benefitted significantly over the years with presence in dry, wet and dog treats segment and has almost doubled its value share on the back of strong growth in premium dry dog food segment which is very popular among Chilean dog owners.
Global giants Mars and Nestle Purina together dominate country pet food market in 2020. Other prominent pet food companies include Empresas Carozzi SA, Champion S.A. etc.
E-retailers Exhibit Record Growth:
Chile remained under lockdown during March, 2020 to September, 2020 and this boosted online sales of pet food as well as sales through traditional stores especially in Q1 and Q2 of 2020. Pet owners preferred to keep a distance from modern large retailers due to fear of pandemic and instead chose local pet shops.
The trend is likely to continue because according to our internal consumer survey conducted in Chile, over 51% of e-shoppers said that they would continue buying their pet food from e-retailers in the post pandemic period as well.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Global Pet Care Market Outlook
4.1. Global Pet Care Market Size, By Value & Volume
4.2. Global Pet Food Company Share
5. South America Pet Care Market Outlook
5.1.1. South America Region Share, by Value
5.1.2. South America Pet Care Market Size, By Value & Volume
5.1.3. South America Pet Food Company Share, By Value
6. Chile Pet Care Market Outlook
6.1. Market size and Forecast, by Value & Volume
6.1.1. Dog Food Category Size, By Value & Volume
6.1.1.1. Dog Food Segment, (Dry dog food, wet dog food, dog treat) By Value & Volume
6.1.2. Cat Food Category Size, By Value & Volume
6.1.2.1. Cat Food Segment, (Dry cat food, wet cat food, cat treat) By Value & Volume
6.1.3. Cat Litter Category Size, By Value
6.1.4. Pet Healthcare Category Size, By Value
6.1.5. Other Pet Food Category Size, By Value
6.1.6. Pet Dietary Supplements Category Size, By Value
6.1.7. Other Pet Products Category Size, By Value
6.2. Pet Food Company Share, by Value
6.3. Pet Care Distribution Channel Share, by Value
7. Chile Pet Care Market Dynamics
7.1. Drivers
7.2. Challenges
8. Chile Pet Care Trends, Opportunities & Developments
9. Chile Pet Care Policy and Regulatory Landscape
10. Chile Macro Economic Profile
11. Competitive Landscape
11.1. Mars Inc.
11.2. Nestle Purina
11.3. Empresas Carozzi SA
11.4. Cannes
11.5. Champion S.A.
12. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/1iwxko
