Pet Food - Southeast Asia

Southeast Asia

Revenue in the Pet Food market amounts to US$4.42bn in 2024. The market is expected to grow annually by 8.45% (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$6.33 are generated in 2024.
In the Pet Food market, volume is expected to amount to 3.69bn kg by 2029. The Pet Food market is expected to show a volume growth of 6.1% in 2025.
The average volume per person in the Pet Food market is expected to amount to 4.0kg in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Pet Food market in Southeast Asia is experiencing minimal growth, influenced by factors such as low disposable income and cultural preferences for homemade pet food. Despite this, the market is slowly expanding due to increasing pet ownership and growing awareness of the benefits of commercial pet food.

Customer preferences: As pet ownership continues to rise in Southeast Asia, the demand for high-quality and specialized pet food products is also increasing. Consumers are becoming more conscious of their pets' health and nutrition, leading to a shift towards natural and organic pet food options. Additionally, with a growing trend towards humanization of pets, pet owners are also looking for convenience and personalization in their pet food choices. This has led to a rise in the use of online platforms and mobile apps for purchasing and customizing pet food, catering to the busy and tech-savvy lifestyles of consumers in the region.

Trends in the market: In Southeast Asia, the Pet Food Market is experiencing a shift towards natural and organic pet food products. This trend is driven by the increasing awareness of health and wellness among pet owners, as well as the influence of Western pet food trends. This trajectory is expected to continue, with consumers seeking out more premium and personalized options for their pets. This trend also presents opportunities for industry stakeholders to tap into the growing demand for pet food with clean and sustainable ingredients, as well as for e-commerce platforms to offer convenient online purchasing options for pet owners.

Local special circumstances: In Southeast Asia, the Pet Food market is heavily influenced by cultural preferences and dietary habits. For example, in Thailand, where Buddhism is the dominant religion, there is a strong emphasis on vegetarianism and animal welfare, leading to a high demand for plant-based pet food. In Malaysia, the Muslim majority population has strict dietary restrictions, resulting in a growing market for halal-certified pet food. Additionally, regulatory frameworks in each country vary, affecting the availability and types of pet food products. These factors significantly impact the market dynamics in this region.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Southeast Asia is heavily influenced by macroeconomic factors such as the overall economic health of the region, government policies, and global economic trends. As the region continues to experience rapid economic growth and rising disposable incomes, the demand for pet food is increasing. Additionally, favorable government policies and investments in the pet food industry, coupled with the rising popularity of pet ownership, are also driving market growth. However, challenges such as inflation and currency fluctuations may impact market performance in the region.

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.