Opportunities for growth and rapid market expansion in the next 5 years
The pet care market in Southeast Asia, which includes Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, was projected to be worth $3.3 billion in 2023. Additionally, markets in Brunei, Cambodia, Laos, and Myanmar were also included in the analysis. With 90% of sales in Southeast Asia’s pet care business coming from the pet food industry, which is valued at $3 billion.
The largest market both in volume and value terms is Thailand at $1.5 billion (€1.4B), which accounts for nearly half of the entire Southeast Asian market.
Southeast Asia’s pet care industry is witnessing a dramatic shift driven by increases in pet ownership, humanization, premiumization trends and health consciousness. Mid-priced pet food is the bulk category within pet food in Southeast Asia, accounting for 44% of total sales in 2023. Meanwhile, the fastest-growing categories over 2018-2023 were premium pet food, and treats and mixers, both experiencing a 16% CAGR.
Given these shifting consumer tastes and dynamic trends, businesses shouldn’t pass up the opportunity to take advantage of the new chances in this area.
IMPACT Exhibition Management Co., Ltd., in collaboration with the Thai Pet Industry Association (TPIA) and Perfect Companion Group Co., Ltd., acknowledges the growth of the pet market and the trend of Pet Parents in Southeast Asia. Therefore, we are organizing the 14th Smartheart presents Thailand International Pet Variety Exhibition – a showcase of pet products and services, marking the end of the year, from October 3-6, 2024. 10.00 AM – 08.00 PM. Hall 7 – 8, IMPACT Exhibition & Convention Center, Bangkok, Thailand. For more information, please contact Line: @petvariety or visit https://lin.ee/IpRtGOk
