Market Trends of asia-pacific pet treats Industry
The evolving ecosystem of pet cafes and pet stores that assist in taking care of the animals and offer a wide variety of cat food products and services is driving the population of cats
- In Asia-Pacific, cats have a lower share compared to dogs, accounting for 26.1% of the pet population in 2022. Countries such as China, India, and Australia witnessed an increase in pet ownership due to health benefits such as feeling relaxed and less stressed and companionship. Therefore, the cat population grew by 0.28% between 2017 and 2022. The shares of cat parents are higher than dog parents in Indonesia and Malaysia, accounting for 47% and 34%, respectively, in 2021. The religious cultures of these countries and the preference for cats as pets over dogs drove the cat population. This trend may help the companies invest more in cat food in these countries.
- In China, there has been an increase in the number of pets, including cats, in urban areas, and the pet population, including cats, grew by 10.2% between 2018 and 2020, reaching 100.8 million in 2020. The cat population grew from 74.4 million in 2020 to 82.5 million in 2022 due to a rise in the need for companionship during the pandemic. This trend may have long-term effects as the life span of cats is more than 20 years.
- A new pet adoption and purchase ecosystem is evolving in the region in the form of pet cafes and pet stores that assist in purchasing and taking care of animals through a wide variety of pet food products and services. For instance, in Vietnam, the Meow House by R House is a cat cafe that serves vegetarian and vegan food and serves as a home for cats. Factors such as the rising adoption of cats due to health benefits, the region's culture, and changes in the pet ecosystem are helping boost cat adoption in the region.
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Increased demand for premium pet treats such as grain-free and natural products is boosting pet expenditure
- In Asia-Pacific, there has been a rise in pet expenditure because of the availability of different types of pet food and pet parents' preference for good quality pet food as they are willing to pay premium prices. Traditionally, pet parents had a higher number of pet dogs, but there has been an increase in the cat population in recent years. However, pet dogs had a higher share of expenditure in 2022, i.e., 45.4%. This high share was due to higher consumption of high-quality pet food and a high demand for customized treats for dogs. Dogs are most popular in Australia, and about 40% of households had a pet dog in 2022, which increased the demand for pet treats.
- China, India, and South Korea are the major pet markets in the region, further registering growth in pet expenditure. These countries witnessed a high number of pet adoptions and high consumption of good quality, premium pet food, especially after the pandemic, as pet parents became more aware of the nutritional requirements of their pets. For instance, in Hong Kong's cat food market, the premium pet food segment accounted for 75% of the pet food sales in 2022. Online pet food sales are high, especially in China, due to the vast number of products on the websites and the ease of placing orders. For instance, in 2022, China's pet food sales from online channels were 58.9% compared to the offline pet stores' contribution of 27.5%.
- The rising demand for pet food and growing awareness about good quality pet food are expected to increase pet expenditure in the region during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The higher life span and the evolution of a pet ecosystem are helping increase the dog population in the region
- Fish is one of the most adopted other pets in the region
