Asia Pacific and Middle East Pet Food Market - 2024-2031

Overview

The Asia Pacific and Middle East pet food market reached US$ 30.2 billion in 2023 and is expected to reach US$ 59.8 million by 2031, growing at a CAGR of 9% during the forecast period 2024-2031.

The Asia Pacific and Middle East pet food market refers to the industry that produces and distributes food specifically formulated to meet the nutritional requirements of domesticated animals, primarily dogs, and cats, including birds, fish, and other pets.

This market encompasses various product forms, such as dry food, wet food, snacks & treats, and specialized products catering to the dietary needs of pets. The market is driven by factors such as the humanization of pets, increasing pet ownership, growing awareness about pet nutrition, and growing popularity of premium and superpremium products.

Market Dynamics: Drivers

Humanization of pets

The demand for the Asia Pacific and Middle East pet food market is driven by multiple factors. Pet humanization created a need for food, care, services, and healthcare premiumization. Also, increasing loneliness levels across the population and lower birth rates have given rise to pet demand. Animal companions bridge the gap between the need for belongingness and companionship across all age groups.

According to Humanization Pet Economy Asia in March 2024, Pet humanization, the trend of treating pets as family members or even children and applying human dietary and lifestyle trends to our furry companions, is rising in Asia-Pacific, especially in China, where over half of "pet parents" (55%) consider their feline and canine companions as their children, while a third views them as family members (28%) and 7.5% consider them friends.

As per the pet food industry in October 2022, the Asia Pacific region stands out as the home to a greater number of pet dogs and cats than any other region, boasting an estimated nearly 300 million of these pets in households. This figure surpasses the count in North America by approximately 100 million.

Moreover, key players in the market introduce innovative startups and innovative brands IN pet food that would drive this market growth. For instance, in February 2024, Pet-Care startup The Pet Journey introduces raw dog food in India. The time to transition to a natural, ancestral food source for our pets is now and The Pet Journey is excited to lead this transformation, promising a future where all dogs in India can enjoy the health and happiness they deserve.

Also, in March 2022, ADM launched a new premium pet food brand in the Chinese market. According to ADM, the Equilibrio brand aligns with its commitment to offer customers in the Chinese and Asian Pacific regions with premium pet nutrition. The brand offers formulas for dogs and cats of all sizes and life stages and features diets that address specific health conditions, including hairball control and digestive health.

The rising cost of ingredients

The rising cost of ingredients, pet food contamination, stringent regulations, and economic fluctuations are expected to hamper the market.

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Segment Analysis

The Asia Pacific and Middle East pet food market is segmented based on product type, pet type, price, and distribution channel.

The dry pet food segment accounted for approximately 58.6% of the Asia Pacific and Middle East pet food market share

The dry pet food segment is expected to hold the largest market share over the forecast period. Dry pet food items are more convenient affordability, and long shelf life than wet food. It is available in various shapes, sizes, and flavors to cater to pet preferences and dietary needs. Pet foods typically comprise grains, meat or meat by-products, and various additives such as vitamins and minerals.

Moreover, key players in this region have launched various dry pet food brands that would propel this segment's growth. For instance, in April 2024, Bowlers from Allana, a trusted brand in pet health, launched the unveiling of Nutrimax, a revolutionary new range of dog food. The unveiling occurred at the prestigious World Small Animal Veterinary Association (WSAVA) conference held at the Adlux Convention Centre, Kochi.

Also, in October 2023, Companion animal health company Scientific Remedies launched the pet food brand Affinity Advance, the flagship brand of Affinity Petcare, in India. The launch is part of a collaboration between Scientific Remedies and Affinity Petcare, which aims to provide the "best quality pet food" to pet parents throughout India.

In addition, major players in the industry introducing innovative product launches propel this market growth. For instance, in May 2023, Supertails.com, a pet care products platform, commented on the success of its private-label pet food brand, Henlo, a baked dry dog food launched in India.

Similarly, in May 2022, the ORIJEN pet food team launched the new ORIJEN AMAZING GRAINS premium dog food full of animal protein and balanced with fiber-rich grains. These whole grains are a source of essential vitamins, minerals, b-glucans, and fiber.

Market Segmentation

By Product Type

• Dry Pet Food
• Wet Pet Food
• Treats & Snacks
• Others

By Pet Type

• Dogs
• Cats
• Birds
• Other Pets

By Price

• Economic
• Premium
• Super Premium

By Distribution Channel

• Specialized Pet Shops
• Hypermarkets & Supermarkets
• Online
• Others

Competitive Landscape

The major players in the Asian Pacific and Middle East pet food market include ADM, Affinity Petcare S.A, Alltech, Wellness Pet, LLC, Hill's Pet Nutrition Inc., and Drools Pet Food Pvt. Ltd, PLB International, SCHELL & KAMPETER, INC, Blue Buffalo Company, Ltd, and Heristo AG among others.

Key Developments

• In December 2023, Mars Petcare is getting ready to deploy food-safe recycled plastic in wet pet food packaging as part of its global commitment to increase recycled content in its plastic packaging. Leading cat food brand SHEBA will be the first to have the updated packaging formats available in Europe in 2022 as part of Mars Petcare's efforts to give pet parents more sustainable choices.
• In October 2023, Hill's Pet Nutrition opened a new smart factory in Tonganoxie to meet global pet owner demand for science-led nutrition. Located on more than 80 acres, the 365,000 square foot, fully designed smart facility will increase the company's production capacity for canned pet food and provide a runway for continued expansion of Hill's Science Diet and Prescription Diet brands.
• In August 2023, Real Pet Food secured China-Singapore investor funding. Australia's Real Pet Food Co. (RPF) became US$161.2 million (A$242 million thereabouts) in June 2023 after its existing investment partners from Singapore and China made an equity investment to expand its chilled pet food business.
• In July 2023, Hill's Pet Nutrition introduces new products featuring MSC-certified seafood and insect protein for pets with sensitive stomachs and skin.
• In June 2023, Malaysia-based premium food brand OzPro has detailed plans to expand into pet supplements and increase its offline distribution channels.
• In March 2023, The APAC Pet Center was the first integrated pet food R&D center in Thailand and the Asia Pacific region. The center's goal is to support pet food product development at the regional level using international research standards. It is also the company's 5th pet center after those in the US, Germany, Russia, and Mexico.
• In February 2023, Mars Petcare, part of Mars, Incorporated, announced that it had completed its previously announced acquisition of Champion Pet Foods. Champion Pet Foods is a pioneer in the fast-growing premium pet food space and its two premier brands, ORIJEN and ACANA, are trusted by pet parents around the world.

Why Purchase the Report?

• To visualize the Asia Pacific and Middle East pet food market segmentation based on product type, food type, price, and distribution channel as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of the Asia Pacific and Middle East pet food market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product type mapping is available in Excel consisting of key product types of all the major players.

The Asia Pacific and Middle East pet food market report would provide approximately 42 tables, 35 figures, and 176 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies