Asia Pacific Pet Food Market: Pet Health Awareness and Changing Lifestyle Pamper Players with Growth, says TMR
The Asia Pacific pet food market is previewed to parade a neck and neck country-wide contest amongst the smaller organizations abounding in the industry. For instance, Royal Canin in South Korea, Pedigree in India, Whiskas in Australia, and Purina Friskies in Japan. Notwithstanding, there are a few pre-eminent companies operating on a worldwide platform which have dominated the Asia Pacific market, viz. Unicharm Corporation, Agrolimen S.A., Del Monte Foods Co., Procter & Gamble Co., Colgate-Palmolive Co., Nestle S.A., and Mars Inc. More players are anticipated to make their way to the local markets as a result of the long-time brand loyalty exhibited by the active customers.
A fastidious research study by Transparency Market Research (TMR) predicts the Asia Pacific pet food market to reach US$10.7 bn by 2020. The dog food segment by pet type had secured a larger share of US$5.9 bn in 2016 and is expected to climb to US$6.5 bn by the end of the forecast period. By country, Japan could struggle to win the crown of a higher percentage share with countries such as India growing at a stallion rate. Nevertheless, Japan could still manage to clasp a major chunk of the share, i.e. around 36.5%.
Rising Dog Population Gives Enough Room for Dog Food
The pet food demand in Asia Pacific countries is foretold to increase in leaps and bounds with the loud appreciation of pet health. If the superlative growth factors are concerned, altering lifestyle and hiking disposable income could top the list. Among the top-tier regional markets are India, China, and Japan which are envisaged to impact the Asia Pacific pet food market at a fair degree. The surging prevalence of the pet food market in India could be due to the escalating adoption of the nuclear family concept amongst many other driving factors.
With the surging population of dogs in key Asia Pacific pet food markets such as India, the demand for dog food is foreseen to touch the sky. Besides the common reasons for growth in the dog food segment, rapid urbanization and a soaring number of problems pertaining to hot spots, diarrhea, fleas, and obesity are more predominant.
Pet Care in India Still at Toddler Phase
Standing at the nascent stage of growth, pet care in India does not hold the same level of popularity as that in the other prominent countries of the Asia Pacific pet food market. This could make the pet food market in India a bit sluggish. However, with the incrementing number of Indians adopting nuclear families and becoming aware about the benefits of keeping pets at home, the pet food sale in envisioned to rise considerably.
Pet food and care products for large pets could suffer in Japan as the demand for small pets is more, owing to apartments as the most common domicile type. However, the country is evaluated to be a prolific soil for growth for any player in the Asia Pacific pet food industry. Moreover, products tailor-made for specific pets of a particular breed and age and specialty products for peculiar pet issues could find a high demand in Japan.
Other countries such as China and Australia have considered pet ownership at a significant rate, as a result of which the demand in the pet food market for Asia Pacific is prophesied to augment. Pets are also owned on the basis of recreational and security purposes. Dry food could raise its demand in Australia on account of economical prices and easy handling.
The study presented here is based on a report by TMR, titled “Pet Food Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014-2020.”
Asia Pacific Pet Food Market: By Pet Type
- Dog Food
- Cat Food
Asia Pacific Pet Food Market: By Food Type
- Dry Food
- Wet Food/Canned Food
- Nutritious Food
Asia Pacific Pet Food Market: By Country
- South Korea
- Rest of Asia Pacific
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