Pet
food is animal or plant material that is used for consumption by
pets. These products are sold through a variety of distribution
channels. However, these products are primarily made available in
supermarkets and pet stores. The global pet food market offers
specific food, which can be categorized as dog food, bird food, fish
food, and cat food among others. A major proportion of the meat that
is made available as pet food is not of human grade. These materials
are generally byproducts of the human food processing industry.
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Increasing
purchasing power, rapid urbanization, and changing lifestyle are some
major factors fueling the demand for pet food in the Asia Pacific
region. Apart from this, increasing preference of the population for
a nuclear family has also fueled the adoption of pets in Asia
Pacific. Moreover, rising awareness about pet health has further
augmented the demand. Due to both these factors, the demand for
nutritious pet food as compared to ordinary pet food has increased
considerably in the last few years. In addition, a number of
regulatory issues, rising cases of pet allergies in humans, and
growing obesity among pets are some of the major factors boosting the
demand for pet food in Asia Pacific.
Dog
Food Segment Remains Dominant
The
Asia
Pacific pet food market in terms of pet type is segmented into
dog food, cat food, and others. The others segment includes bird food
and fish food. The dog food segment holds the most prominent chunk of
the market share and is expected to swell to 61.1% by 2020. The dog
food segment was nearing a valuation of US$6.0 bn by the end of 2015.
Currently,
there are several kinds of dog feed available in the market, which
include dry, wet or canned, nutritious, and treats. Increasing
awareness about pet health is one of the major factors fueling the
demand for dog food in the Asia Pacific. Moreover, changing lifestyle
and rapid urbanization is also expected to boost the demand during
the forecast period. Additionally, the percentage of dogs as pets has
increased considerably in the region in recent past. In India, the
dog population had increased to about 58.1% by 2013 and similar trend
has been observed in markets of Australia, China, and South Korea.
India
Emerging as Most Lucrative Market
Japan
is one the major markets for pet food in Asia Pacific, and is
expected remain the dominant market during the forecast period,
reaching a market share of 36.5% by the end of 2020. This dominance
in demand from Japan is attributed to apartment-culture, which is the
most common type of domicile in Japan. Because of this, Japanese
consumers tend to prefer smaller pets. Australia is second most
prominent market for pet food in Asia Pacific, which is due to
considerable increase in pet ownership in the country in recent
years. A large number of households are switching to pets for
security and recreational purposes. However, the demand for pet food
is also expected to increase at a fastest rate in the countries of
India and China.
The pet food market in Asia Pacific is dominated by a few major brands that operate globally, such as Mars Inc., Nestle S.A., Colgate-Palmolive Co., Procter & Gamble Co., Del Monte Foods Co., Agrolimen S.A., and Unicharm Corporation. However, stiff country-wide competition is prevalent from smaller players. For example, Purina Friskies in Japan, Whiskas in Australia, Pedigree in India, and Royal Canin in South Korea.
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