The global pet care market exceeded US $ 207 billion in 2024, after a growth of 5.9% compared to the previous year, according to the data that Euromonitor throws. Worldwide, it is projected that the industry will go from US $ 273,420 million in 2025 to US $ 427,750 million in 2032, with an annual growth compound of 6.6% (Fortune Business Insights).
For its part, in Argentina, the importance of pets is transforming consumption. A Mastercard analysis reveals that the 75% of Argentines consider their pet as a fundamental member of the family. In addition, e-commerce for pet products and services reached 4.4% of total expenditure in 2024, compared to 3.4% of the previous year. And if it is specifically the Buenos Aires Citythe situation is even more palpable: almost the 80 % of households live with petshigher than the American average.
Preventive medicine. An indicator of cultural change is the hiring of veterinary insurance and preventive medicine plans, a trend that in mature markets such as the US and Europe is already massive.
According to the latest report of the North American Pet Health Insurance Association (Naphia), The North American Health Insurance Market for Pets reached US $ 5,151 million in premiums issued in 2024, with a growth of 21.4% compared to 2023. The number of insured pets grew by 12.7%, with a particularly strong rise in cats, while insurance that includes benefits of preventive well -being (vaccines, checks, dentistry), have an average annual premiums of US $ 651 for cats and US $ 1,321 for dogs.
In the United States, companies such as Banfield, Thrive PAW or VCA Careclub offer, plans that vary between USD 25 and 70 per month, and include consultations, vaccines, dental cleanings and periodic analysis. Meanwhile, in Europe, programs such as evidensia or vesque include complete preventive coverage for between 12 and 32 euros per month.
The veterinary doctor, Silvina Muñiz, states that “Health insurance and preventive plans reduce the economic impact of serious diseases and allow constant monitoring that improves the quality and life expectancy of pets.”
Key trends of the Pet Economy. The Argentine pet market is going through a sophistication process marked by the growth of premium products and services. Buenos Aires stands out as a regional leader in the purchase of high -end foods, clothing, insurance and experiences specially designed for pets. This evolution goes hand in hand with the expansion of electronic commerce, which gains ground thanks to digitalization and the search for comfort by consumers.
The food segment is one of the most dynamic: it is projected to reach US $ 1,730 million in 2025, with an annual compound growth of more than 16% to 2030.
In addition, the offer diversifies towards premium options such as functional snacks and organic foods. At the same time, specialized services arise ranging from coffee shops and spas to products associated with the tendency of the “Perrihijos”, consolidating an ecosystem of consumption in full expansion.
by ma
