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In 2023, pet food sales in Latin America generated revenues of approximately **** billion U.S. dollars. This figure represented an increase of around ten point three percent compared to the numbers recorded in 2022, and it is expected that by 2028, revenue in the region will exceed ** billion U.S. dollars. Thus, this territory will continue to be one of the leaders in global pet food production.

Brazil: the leader of the region

One of the main contributors to this strong positioning is Brazil, which stands out as the leading market in the Latin American pet food industry. In 2023 alone, the Brazilian market grew by about fifteen percent compared to the previous year, closing with revenues of **** billion U.S. dollars. These figures place the country led by Lula Da Silva among the ten nations with the highest revenue in the sector, behind only the United States, China, and the United Kingdom.

The booming Latin American market

Although Latin America still ranks below the European pet market, the growing popularity of companion animals in the region has driven market diversification and increased sales. Argentina, for example, is positioned as the country with the most pets per capita in the world, with eight out of ten households owning a pet, according to a recent report. A companion animal that, in most cases, will be adopted. Not surprisingly, this method of acquisition has become by far the most popular in the South American country.