Peruvian Families' Shift Drives Growing Pet Market
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Insights by Echo AI
Peruvian families are changing, with fewer children and more pets. 56% of Lima residents consider their pets as children, spending an average of S/314 monthly on food, grooming, health insurance, and other expenses. This trend is driving the growth of pet insurance, 'pet-friendly' places, and real estate tailored to pet owners. The market for pet products and services is projected to reach US$680 million by 2028.
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