Petfood Industry - March 2020 - 25

www.PetfoodIndustry.com | 25

MEXICAN PET FOOD MARKET GROWING DESPITE
ECONOMIC SLUMP

MEXICO

Mexico's economic growth in 2019 was disappointing;
fortunately, the local pet food industry seems immune to
economic downturns and volatility.
The latest economic forecasts for year-end 2019 show
the Mexican economy will register a flat growth rate of 0%.
Only one year ago, several forecasting agencies, including the
International Monetary Fund, estimated the Mexican economy
would attain around 2% real growth in the period. However,
economic uncertainty arising from the new administration and
a tightened monetary policy led to an economic slump in 2019.

No alternatives to commercial pet foods
The Mexican pet food industry is isolated from macroeconomic trends. One reason that likely explains this phenomenon is that pet food products are irreplaceable. There are no
substitutes other than homemade preparations.
On the other hand, a great portion of the local pet food
product array is inexpensive. Thus, even in the event of an
economic downturn, pet owners have several alternatives
to choose from, rather than cutting down on consumption.
Consumers may downgrade to inexpensive brands instead of
reducing the amount bought. Moreover, as local producers are
aware of such consumer adaptability, they try to keep prices at
low levels.
According to the monthly industrial survey from the
National Statistics Institute in Mexico, the national production of dog food increased by 4.5% from January-October
2019. However, in the same period, value production only
rose 0.7% in nominal terms, suggesting a negative growth
net of inflation.
Industry March 2020

2003PETlatam.indd 25

2/27/2020 11:22:16 AM


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Petfood Industry - March 2020

Table of Contents for the Digital Edition of Petfood Industry - March 2020

Petfood Industry - March 2020
Contents
US pet food market update: winners and losers
Speaking of…
News and Calendar
Heed Foods focuses on dog gut health to differentiate
Premium pet foods’ mass market retail success stories
Latin America pet food update: Growth in Mexico, online
Petfood Forum tackles market forces, sustainability, CBD
The future of US pet food labeling
Apple cider vinegar: Natural ingredient for pet foods?
2020 pet product sales growth hindsight
New Products
Marketplace
Advertiser’s Index
Petfood Industry - March 2020 - CT1
Petfood Industry - March 2020 - CT2
Petfood Industry - March 2020 - Petfood Industry - March 2020
Petfood Industry - March 2020 - Cover2
Petfood Industry - March 2020 - 1
Petfood Industry - March 2020 - Contents
Petfood Industry - March 2020 - 3
Petfood Industry - March 2020 - US pet food market update: winners and losers
Petfood Industry - March 2020 - 5
Petfood Industry - March 2020 - Speaking of…
Petfood Industry - March 2020 - 7
Petfood Industry - March 2020 - News and Calendar
Petfood Industry - March 2020 - 9
Petfood Industry - March 2020 - Heed Foods focuses on dog gut health to differentiate
Petfood Industry - March 2020 - CT3
Petfood Industry - March 2020 - CT4
Petfood Industry - March 2020 - 11
Petfood Industry - March 2020 - 12
Petfood Industry - March 2020 - 13
Petfood Industry - March 2020 - 14
Petfood Industry - March 2020 - 15
Petfood Industry - March 2020 - Premium pet foods’ mass market retail success stories
Petfood Industry - March 2020 - 17
Petfood Industry - March 2020 - 18
Petfood Industry - March 2020 - 19
Petfood Industry - March 2020 - 20
Petfood Industry - March 2020 - 21
Petfood Industry - March 2020 - 22
Petfood Industry - March 2020 - 23
Petfood Industry - March 2020 - Latin America pet food update: Growth in Mexico, online
Petfood Industry - March 2020 - 25
Petfood Industry - March 2020 - 26
Petfood Industry - March 2020 - 27
Petfood Industry - March 2020 - 28
Petfood Industry - March 2020 - 29
Petfood Industry - March 2020 - 30
Petfood Industry - March 2020 - 31
Petfood Industry - March 2020 - 32
Petfood Industry - March 2020 - 33
Petfood Industry - March 2020 - Petfood Forum tackles market forces, sustainability, CBD
Petfood Industry - March 2020 - 35
Petfood Industry - March 2020 - The future of US pet food labeling
Petfood Industry - March 2020 - 37
Petfood Industry - March 2020 - 38
Petfood Industry - March 2020 - 39
Petfood Industry - March 2020 - Apple cider vinegar: Natural ingredient for pet foods?
Petfood Industry - March 2020 - 41
Petfood Industry - March 2020 - 42
Petfood Industry - March 2020 - 43
Petfood Industry - March 2020 - 2020 pet product sales growth hindsight
Petfood Industry - March 2020 - 45
Petfood Industry - March 2020 - 46
Petfood Industry - March 2020 - 47
Petfood Industry - March 2020 - New Products
Petfood Industry - March 2020 - 49
Petfood Industry - March 2020 - 50
Petfood Industry - March 2020 - 51
Petfood Industry - March 2020 - 52
Petfood Industry - March 2020 - 53
Petfood Industry - March 2020 - Marketplace
Petfood Industry - March 2020 - 55
Petfood Industry - March 2020 - Advertiser’s Index
Petfood Industry - March 2020 - Cover3
Petfood Industry - March 2020 - Cover4
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