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Published August, 2020
Asia-Pacific Pet Food Market- Size, Trends, Competitive Analysis and Forecasts (2020-2025)

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The Asia-Pacific region has witnessed rapid urbanization in the last two decades and this trend is estimated to continue in the coming decades. The region has experienced extensive migration to urban centers in search of employment and economic stability. The urbanization trend and financial growth have paved the way for unprecedented demographic, economic, and social shifts. Two significant demographic trends prevalent in the region are rapid fertility decline and simultaneous increases in life expectancy. Fewer births increase the proportion of older people, and late marriage means more single-person households, impacting consumer patterns. Changing demographics and rising disposable income is driving the increasing adoption of pets, across the high-income and the middle-income group in Asia. The consumption of pet food is accelerated by growing awareness about pet diet & increased pet humanization. The Asia-Pacific pet food market provides huge growth prospects to the manufacturers due to the availability of a large untapped consumer base. The pet food market is estimated to grow at a CAGR of 6.0% from 2020 to 2025.

Dog food is the dominant pet food type in most countries of Asia; however, it is gradually losing its market share due to rising demand for small dogs and a growing preference for cats. Cat food is projected to be the fastest-growing category from 2020 to 2025. Dry food is the most popular product category both in dog and cat food attributable to its low cost. Snacks & treats is the projected fastest-growing product segment as the demand for functional pet food with health benefits is growing exponentially in the region.

The Asia-Pacific pet food market is also segmented based on distribution channels such as pet shops, supermarkets/hypermarkets, online channels, vet clinics, among others. Supermarkets and pet shops account for maximum sales of pet food mainly due to the availability of a wide range of products to choose from and discounts on products. The online channel is becoming popular, especially in India, China, Thailand, South Korea, among others, and is forecasted to be the fastest-growing distribution channel in the coming decade. Economy products are the largest category due to its low cost and are also estimated to be dominant during the forecast period. The premium and super-premium section accounts for the smallest share in volume but accounts for 40% of the market share in value terms due to its high price. With economic stability and humanization trend in the region, the consumers are buying premium products with functional properties. The premium segment is forecasted to be the fastest-growing segment among all pricing segment.

The major pet food consuming countries in the Asia-Pacific region are Japan, Australia, and China. Japan is the most mature market and experiences y-o-y stable demand. Thailand, South Korea, India, and China provide growth potential with a vast untapped consumer base and rising purchasing power parity. Thailand and South Korea are estimated to be the most vibrant markets primarily due to comparative economic stability, less impact of COIVD-19 pandemic in Thailand, and efficient support to pet owners during the lockdown measures. Thailand and South Korea are also estimated to be the fastest-growing consumers of pet food in the region from 2020 to 2025.

The Asia-Pacific pet food market is fragmented among major international players and local manufacturers. The multinational players hold around 50% of the market share. Unicharm Corp., Thai Union Group, Nestle Purina, Mars Petcare, Jeil Feed, Perfect Companion, Nippon Pet Food, MG Group, Nisshin Petfood, Petline, Fwusow Industry, Charoen Pokphand Group, Hill’s Colgate, and Maruha Nichiro Holdings are dominant players in the market. Aggressive marketing to create consumer awareness, expanding the distribution channel, and collaborations with supermarkets are the major strategies adopted in the market. Furthermore, the private label brands are also expanding by catering to rising demand for healthy, functional, and organic pet food.

Key Deliverables

  • Market trends since 2015 and five-year forecasts of market growth 
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries  
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on the growth potential of the market
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

1. Introduction                                                                  

        1.1 Research Methodology                                                          

        1.2 Scope of the Study                                                               

        1.3 Assumptions                                                        

2. Summary                                                                      

        2.1 Market Summary By Type                                                     

        2.2 Market Summary by Geography                                     

3. Industry Dynamics                                                                 

        3.1 Drivers                                                        

                3.1.1 Snowballing pet population                                         

                3.1.2 Growing Trend of Pet Humanization                             

                3.1.3 Increasing demand of Therapeutic pet food          

        3.2 Restraints                                                            

                3.2.1 Growing/Perceived connotation between pet food and obesity                                                

                3.2.2 Nutritional Sustainability                                             

                3.2.3 Supply Chain Challenge in developing countries            

        3.3 Opportunities                                                               

                3.3.1 Organic and natural pet food                                              

                3.3.2 Innovative Packaging                                                 

                3.3.3 Growth in Internet Retailing                                        

        3.4 Porter’s Five Forces Analysis                                                  

                3.4.1 Bargaining power of Suppliers                                     

                3.4.2 Bargaining power of Buyers                                        

                3.4.3 Degree of Competition                                                

                3.4.4 Threat of Substitution                                                 

                3.4.5 Threat of new entrants                                                       

        3.5 Future Trends in the Industry                                                

        3.6 Value Chain Analysis                                                             

        3.7 Industry Policies & Regulations                                                      

        3.8 Market Innovations                                                               

4. Market Size and Forecast                                                                

        4.1 Market Share, By Pet Types                                                  

                4.1.1 Dog Food                                                  

                4.1.2 Cat Food                                                   

                4.1.3 Bird Food                                                  

                4.1.4 Others                                                      

        4.2 Market Share, By Product Type                                                      

                4.2.1 Dry Food                                                  

                4.2.2 Wet Food                                                  

                4.2.3 Veterinary Diets                                                 

                4.2.4 Treats & Snacks                                                

                4.2.5 Raw Food                                                 

                4.2.6 Organic                                                    

        4.3 Market Share, Pricing                                                           

                4.3.1 Economic                                                  

                4.3.2 Premium                                                   

                4.3.3 Super-premium                                                 

        4.4 Market Share, Ingredients                                                     

                4.4.1 Animal Derivatives                                                     

                4.4.2 Fish Derivatives                                                 

                4.4.3 Fruits & Vegatables                                                    

                4.4.4 Cerelas & Cereal by products                                              

                4.4.5 Fats & Oils                                                

                4.4.6 Additives                                                  

                4.4.7 Others                                                      

        4.5 Market Share, Additives                                                        

                4.5.1 Vitamins                                                   

                4.5.2 Minerals                                                   

                4.5.3 Amino Acids                                                      

                4.5.4 Antioxidants                                                      

                4.5.5 Antimicrobials                                                    

                4.5.6 Colorants                                                  

                4.5.7 Emulsifiers & Stabilisers                                              

                4.5.8 Flavors                                                     

                4.4.9 Others                                                      

        4.6 Market Share, Distribution Channel                                         

                4.6.1 Pet Shops                                                 

                4.6.2 Mass Markets                                                    

                4.6.3 Internet Retailing                                                       

                4.6.4 Veterinanry Clinics                                                     

                4.3.5 Others                                                      

5. Country Market Share                                                                     

        5.1 Asia-Pacific                                                          

                5.1.1 China                                                       

                5.1.2 India                                                

                5.1.3 Japan                                                       

                5.1.4 Thailand                                                   

                5.1.5 South Korea                                                      

                5.1.6 Australia                                                   

                5.1.7 Others                                                      

6. Competitive Analysis                                                                       

        6.1 Market Share Analysis                                                           

        6.2 Growth Strategies of leading players                                               

        6.3 Investment and Development Prospects                                 

                6.3.1 Investment in past five years                                              

                6.3.2 Investment Opportunities                                           

        6.4 Competition Pattern                                                              

                6.4.1 Concentration Ratio                                                    

                6.4.2 Industry Competition                                                  

        6.5 Price Trend Analysis                                                             

                6.5.1 Product Classifications and Their Prices                        

                6.5.2 Factors Influencing Prices                                           

7. Company Profiles                                                                   

        7.1 Mars Inc                                                             

        7.2 Nestle SA                                                            

        7.3 Hills's Pet Nutrition                                                       

        7.4 Uni-Charm Corp                                                           

        7.5 Nutriara Alimentos Ltda                                                         

        7.6 Invivo NSA                                                          

        7.7 Agrolimen SA                                                               

        7.8 Mogiana Alimentos SA                                                           

        7.9 Heristo AG                                                           

        7.10 Deuerer                                                             

        7.11 Wellpet                                                              

        7.12 J.M. Sucker                                                        

        7.13 Diamond Pet Foods                                                             

        7.14 Blue Buffalo                                                       

        7.15 Merrick Pet Care