THAILAND PET FOOD MARKET 2022-2026
MARKET OUTLOOK
The Thailand pet food market is estimated to progress with a CAGR of 5.43% by value over the projected years from 2022 to 2026. It is also expected to develop with a CAGR of 4.73% by volume over this duration.
The pet population in Thailand has been on the rise since the beginning of the COVID-19 pandemic. According to recent studies, nearly 47% of households in the country own a dog; whereas, 42% of households own a cat. As a result of this growing trend of pet humanization, a large number of pet owners are now treating their pets as they would themselves.
Along with customers’ concerns about their own health during the pandemic, they have also become more concerned about their pets’ health. This has led to an increase in the number of individuals ensuring a good diet for their dogs, with nutritionally balanced prepared dog food. Pet humanization has led to a surge in the country’s pet population, thereby increasing the demand for pet food.
Meanwhile, Thailand’s Department of Livestock Development (DLD) has implemented a number of new regulations that restrict the imports of feed and feed ingredients containing certain animal proteins. Furthermore, the Division of Animal Feed and Veterinary Products Control and the Thai Pet Food Trade Association (TPFA) also have jurisdiction over the pet food industry. These factors are significantly impacting the growth of the market studied.
COMPETITIVE OUTLOOK
The eminent players in the pet food market are Royal Canin, Perfect Companion Group Co Ltd, Nestle Purina Petcare, Mars Incorporated, and Charoen Pokphand Foods Public Company Limited.
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