Pet Food - Nepal

Nepal

Revenue in the Pet Food market amounts to US$31.60m in 2024. The market is expected to grow annually by 4.89% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$59,740m in 2024).
In relation to total population figures, per person revenues of US$1.07 are generated in 2024.
In the Pet Food market, volume is expected to amount to 27.92m kg by 2029. The Pet Food market is expected to show a volume growth of 0.1% in 2025.
The average volume per person in the Pet Food market is expected to amount to 0.9kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Market

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Analyst Opinion

The Pet Food Market in Nepal has seen minimal growth due to factors such as low purchasing power of consumers and lack of awareness about the benefits of pet food. However, with increasing disposable income and growing pet ownership, the market is expected to pick up pace in the coming years.

Customer preferences: Consumers in Nepal are increasingly looking for pet food options that cater to specific dietary needs and preferences of their pets, such as organic, grain-free, and vegetarian options. This trend is driven by the growing awareness of pet health and well-being among Nepali pet owners. Furthermore, with the rise in pet ownership among younger demographics, there is a shift towards more premium and natural pet food products. This reflects the influence of global trends towards natural and sustainable food choices, as well as the evolving lifestyle and cultural preferences of Nepali consumers.

Trends in the market: In Nepal, the Pet Food Market is experiencing a shift towards more natural and organic products, as consumers become increasingly health-conscious and look for high-quality ingredients for their pets. This trend is expected to continue, driven by the growing demand for premium and specialty pet food. Additionally, the rise of e-commerce and online retail platforms has made it easier for pet owners to access a wider range of pet food products, further fueling market growth. These developments present opportunities for industry stakeholders to tap into this lucrative market and cater to the evolving needs of pet owners.

Local special circumstances: In Nepal, the Pet Food Market is heavily influenced by the country's geographical and cultural factors. With a majority of the population residing in rural areas, the market is driven by locally sourced and homemade pet food options. Additionally, due to the cultural beliefs of vegetarianism and non-violence towards animals, there is a limited demand for meat-based pet food products. These unique factors have shaped the dynamics of the Pet Food Market in Nepal, making it distinct from other markets in The Food market industry.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Nepal is heavily influenced by macroeconomic factors such as economic stability, disposable income levels, and government policies. As the country continues to experience economic growth, there is an increasing demand for premium pet food products, driven by a rising middle class and changing consumer preferences. Additionally, government initiatives to promote pet ownership and the growing trend of pet humanization are also contributing to the growth of the Pet Food Market. However, challenges such as inflation and currency fluctuations could impact market performance in the future.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.