May 6, 2021

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Thailand Pet Food Market Growth Analysis By Size, Share, News, Demand, Opportunity During 2020-2025

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Japan, Japan, Mon, 08 Feb 2021 05:43:56 / Comserve Inc. / — The report analyzes the international markets including development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status.

The Thailand pet food market is projected to witness a CAGR growth rate of 5.2% during the forecast period. According to the Thai Pet Products Association, Dogs, make up the largest market segment for pet food, both, in terms of revenue and volume holding. This share is expected to record a growth of an annual average during the forecast period. The demand for premium dog food treats is anticipated to drive the market growth, over the forecast period. Under the trend of pet humanization, consumers are feeding their pets wet dog food as a snack and have tried even more diverse treats, regardless of price.

Key Market Trends

Pet Humanization Is Driving The Market

The shift in pet ‘ownership’ to ‘parenting’ has been a very crucial trend in the market studied. According to studies, Over one-third of households in the country own a pet. However, consumers are now becoming aware that pet food and home-made food consist of separate nutritional elements, and pets need to be fed with a diverse range of food, as a part of providing an adequate diet. According to the Thai Pet Product Industries Association, the market value of pet-related industries in Thailand is USD 73 billion in 2018, half of which is pet food. The pet food industry has been growing steadily at 10% annually since 2011, whereas human food sales have been growing by a mere 5%. Hence, the demand for high-quality pet food is increasing, supported by the rise in pet ownership. With the number of older people, single people, or people who do not have children increasing every year in Thailand, people are raising an animal as friends. Moreover, According to the Thai Pet Products Association, “Pet Business” in 2019 touched USD 107 billion and the biggest part is the animal food segment with 45% of the estimate which is USD 4.8 billion, Pet health care 32% estimate as USD 3 billion and Other segments (cloth, accessories, and toys) hold 23 % of estimate as USD 24.5 billion.

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Export of Pet Food is Leading The Market

According to the International Trade Centre (ITC), Thailand is the world’s fourth-largest pet food exporter, with a total export value of USD 1,385,123 thousand in 2019. The export value in terms of price and quantity has grown at an 11% annual rate since 2016. Although Japan remains one of Thailand’s top pet food export destinations, in recent years exports to the United States and Italy have also recorded impressive annual growth rates of 15% and 8% respectively since 2016 as these countries are home to the largest number of pets globally. It is also seen that major pet food manufacturers in Thailand develop pet food with consistently high standards synonymous with human food grades. The big players in Thailand’s agriculture industry, such as the Betagro Group and Charoen Pokphand Foods, have been effective in gaining strong footholds in the pet food industry, cashing in on higher profit margins than those relished by the animal feed industry. The leading pet food manufacturers such as Mars Petcare have pawned their commitment towards engaging sustainable sources for 100% of their supply in the region.

Competitive Landscape

The Thailand Pet Food Market is consolidated with the top global players occupying a major share in the market. The competition in the market is driven by consumer loyalty. Since pets would crave for the same kind of food every time during any particular growth stage, gaining a market share of competitors is very tough in the market. Mars Inc, with its early entry and long-standing advantage, had gained consumer loyalty, which in turn is driving its growth in the country. Betagro, one more Thai pet food manufacturer, made investments to increase its ability to keep meats cold during processing. This way the company aims to increase its focus on the domestic market.

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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Dry Food
5.1.2 Wet Food
5.1.3 Treat/Snacks
5.1.4 Others
5.2 Animal Type
5.2.1 Dogs
5.2.2 Cats
5.2.3 Birds
5.2.4 Other Animals
5.3 Distribution Channel
5.3.1 Specialized Pet Shops
5.3.2 Online Channel
5.3.3 Supermarket/Hypermarket
5.3.4 Other Channels

6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Inc.
6.3.2 Nestle SA (Purina)
6.3.3 Colgate Palmolive ( Hill’s Pet Nutrition)
6.3.4 Merric Pet Care
6.3.5 Royal Canin
6.3.6 Perfect Companion
6.3.7 J.M. Smucker
6.3.8 Ainsworth Pet Nutrition
6.3.9 Dr. Clauders
6.3.10 Betagro Pvt Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 IMPACT OF COVID-19

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Hina Miyazu

Shibuya Data Count
Email: [email protected]
Tel: + 81 3 45720790

The post Thailand Pet Food Market Growth Analysis By Size, Share, News, Demand, Opportunity During 2020-2025 appeared first on Comserveonline.

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