Brazil now features among the three biggest markets in the world for pet products, behind only the United States and China. In addition, a projection from Instituto Pet Brasil states that the country closed 2020 nearing 40.1 billion reais revenue (brazilian currency). That’s 13.5% more than the revenue recorded in 2019, based on data collected until the third quarter of that year. This impressive data stands as a proof of the remarkable pet market growth in Brazil.
This growth in the pet market was not sudden though, or abrupt. It has been recorded for years now, as the pet trend grew and expanded across the country. But what are the reasons that caused such a great increase? What are the current trends of this market and how will it look like after the pandemic? We listed some of these reasons.
Pet humanization: Pets are part of the family now. They are treated like sons and daughters who have their own place in the house, with their own toys and specific food. Some have health insurance plans and others even become heirs, with the right to a part of their owner’s patrimony. Pets are receiving more and more treatment and services that were only available to humans previously, and this is one of the reasons why this market is expanding.
Urban verticalization: Living in small apartments is a reality for most of the urban population. Before, finding a pet-friendly building to live in was a lot harder, but today it’s a much easier process. This has caused the number of “apartment pets” to increase vastly, as well as the demand for custom services that can be home-delivered.
Isolation: On quarantine at home and not leaving unless necessary, people started to look for pets to keep them company. The number of households with pets has escalated during this pandemic, as people tried to find a way to feel less isolated by the restrictions that stopped them from seeing their family and friends.
Consumers are expected to go back to the habit of buying in-person: E-commerce, which today represents 4.4% (1.5 billion reais) of the revenue in this market, became even more important last year. It should maintain its importance, but after mass vaccination consumers are expected to go back to buying in-person, especially as many had the habit of taking their pets for a walk in pet-shops.
Eco-friendly and natural products: This type of product should become more common for pets, as sustainable actions become more popular in Brazil and around the globe. Products like biodegradable pet waste bags and organic healthy pet food are already an option, and should popularize even more.
With experience managing projects in this huge market, including with veterinarians, the Smart Research team is more than excited to assist you in your research. The pet market is one of the biggest in Brazil and around the world, and it is our honor to help our clients to succeed in such a big and important market.