Pet economy grows in Latin America with rising investment and specialized demand

The pet economy is seeing significant growth and shifting consumer patterns across Latin America. In Argentina, the sector generates approximately US$3.2 billion annually, representing about half of the country's GDP. With a population of over 19 million dogs and cats, Argentina leads the region in pet investment alongside Brazil, with an average expenditure of US$428 per animal. Most spending is directed toward essential needs, including balanced food (87%), vaccines (68%), and parasite prevention (57%).

In Chile, market trends indicate an aging pet population, which is driving specialized demand. According to Cadem's 2026 study, senior pets (those over seven years old) account for 35% of dogs and 32% of cats in surveyed households. This demographic shift is increasing spending on specialized nutrition, such as food for joint health and weight control. Monthly food expenditures in Chile are also higher for senior pets compared to puppies and adults, reflecting a trend toward premium, age-specific pet care.