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Changing attitudes to pets fuel growth

Rachel WoodBy Rachel WoodNovember 19, 20202 Mins Read
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The Asia Pacific pet care industry has seen rapid growth over the past two years and is now seen as one of the major pet care markets globally.

This growth has been driven by owners starting to treat their pets as family members alongside the advent of online purchasing, according to a new report.

‘Asia Pacific Pet Food Market Overview, 2020-2025’ gives insight into the pet care performance of various countries included in this region, with historical and forecast analysis.

Urbanisation is another reason for recent growth in the market, which has been segmented into pet foods, pet health care, pet accessories and pet grooming for the purposes of the report.

Among the top-tier regional markets are Japan, Australia, China, South-East Asia and India.

The pet food segment has grown with a compound annual growth rate above 4% in the last couple of years, with the pet food market dominated mainly by Japan and China, which was valued at more than US $8bn (£6bn) in 2019.  In common with Western nations, the region has seen high demand for organic, healthy and nutritious pet food.

Apart from pet food, there has also been an increase in the pet healthcare category. Again, this is attributed to a growing trend for of people to treat pets as family members.

NEW PLAYERS

Globally, well-known companies hold the majority of market share in pet care, but the report predicts the emergence of a lot of new players, which ‘will take the competition to a new level’.

Major businesses in the market in the region include Nestlé, Mars, Colgate-Palmolive, JM Smucker, Blue-Buffalo, United Pet Group, Champion, PLB international, Scott Pet, Unicharm, Laroy Group, Deuerer, Heristo, Well Pet, Proveedora La Perla, NicoluzziRacoes, Raw Gold, Promeal, Heritage Foods Kenya, Lider, and De Haan.

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Rachel Wood

Rachel Wood, graphic designer. More than 40 years ago, I was one of the first females to be offered an apprenticeship within the printing industry. I've worked on record sleeves, DVD covers and various magazines throughout my career. In my spare time I collect movie posters and attend comic cons, I keep fit (and sane) with gardening and strength & conditioning training.

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