Pet Market in Panama

Some pet service providers claim that their sales have been sustained, while others report that their income is beginning to recover after overcoming a period of economic slowdown.

Tuesday, February 25, 2020

In recent years the Panamanian economy recorded a slowdown, since in 2018 the Gross Domestic Product of the country reported a 3.7% year-on-year growth, far from the increases of 11.3% and 9.8% reported in 2011 and 2012, respectively.

It is estimated that in 2019 the increase in production will be between 3.5% and 4%, and for 2020 international organizations predict a more solid recovery.

In this context, local pet care entrepreneurs expect sales to rebound in the coming months.

See "Pets: Consumer Preferences"

Anny Duran, from Mascota Resort, told Panamaamerica.com.pa that "... in the last 5 years nine dog businesses that provided hairdressing services, hotel, veterinary clinic, food and accessories sales closed. I resisted having high operating costs, however, we are seeing some recovery in the business."

Also see "Pet Food: Business with Mexico Grows at 10%"

Maritza Douri, manager of the VIP Vacation Kennels Panama hotel, explained that "... despite the economic situation of the country, they do not report a drop in income either in high or low seasons (April to October). At the moment we have maintained our clientele in comparison to previous years. At times we have had to say that there is no space because we are full."

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In Guatemala the fashion for having of different kinds of pets in homes is growing, increasing the demand for vets and services to care for them.

Elperiodico.com.gt reports that "Dr. Julie de Arimany, a veterinarian and owner of Dogcare Veterinary Hospital, believes that the trend for families to adopt a pet as a family member has already been around for more than 20 years and has intensified due to television programs such as those shown on the channel Animal Planet. 'we have been operating as a hospital for eight years and during this time demand has greatly increased, we have had to adapt by adding beauty salon, kennels, home delivery. It's a good business, which is why new veterinary businesses have started up', said de Arimany. "

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