During a presentation at the Seventh International Mexican Pet Food Forum earlier this month, Ivan Franco, owner of market research firm Triplethree International, revealed four emerging trends in the Mexican pet food market to keep an eye on.
While the Mexican petfood market shares much in common with that of the rest of North America, a number of differences between the United States and Mexico have yielded some interesting departures. Rising incomes and shifts in attitudes toward pets over ten years ago led to a surge in demand for pet foods throughout Mexico. Fast forward to the present, those changes are now resulting in a new string of trends. Franco’s presentation highlighted four of the biggest trends at play in the Mexican market now and in the near future:
- Greater interest in both superpremium and economy offerings
- Greater demand for larger, eCommerce-friendly packages
- Greater demand for more diverse offerings
- Greater expected growth
As with the the rest of North America economic shifts and the continued rise of eCommerce-based sales have played, and will likely continue to play, important roles in the Mexican market.
For additional insights from Franco’s presentation, check out the full article on Pet Industry.