The Asia-Pacific Pet food market is expected to be valued at USD 22.60 billion in 2024 and is projected to reach USD 32.33 billion by 2029, growing at a CAGR of 7.42% during the forecast period from 2024 to 2029.
Pet foods are more digestible and enable the pet to absorb more nutrients and the pet will require less food per feeding. Because of their quality nutrients, premium pet foods help keep the pet’s skin and coat healthy and may help avoid issues including food allergies, sensitive stomach, obesity, and hip and joint stiffness. Specially formulated premium pet foods can also help with conditions such as hairballs, urinary tract issues, and oral disease.
Awareness of the benefits of high-quality pet food, the increase in the pet population, and concern for the health of pets due to the rise in the trend of pet humanization and the increase in palatability of pet food are the factors that have resulted in the growth of pet food ingredients market in the Asia-Pacific region.
However strict regulation of the government on the costs of raw materials and feed products can hinder the market growth.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
7.42% |
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Segments Covered |
By Animal Type, Ingredients and Region |
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Various Analyses Covered |
Global, Regional, and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
China, India, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, Rest of APAC |
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Market Leaders Profiled |
Mars, Inc., Del Monte Foods, Hills Pet Nutrition, INC, Unicharm Corporation, Nippon Formula Feed Manufacturing Company LTD, Pet Center, Incorporated (PCI), Nestle Purina PetCare, Nisshin Saifun Group INC. Natural Dog Food Company, Halo, Purely for Pets, Marukan CO. LTD., Nutrena, and Spectrum Brands, INC. |
Japan has the largest market share within the region. In India, dogs are more popular pets than other animals like cats, birds, fish, etc. This creates a significant opportunity for pet food companies to come up with a wide range of food products for dogs.
The Asia-Pacific pet food industry is highly concentrated with ten major players together accounting for more than 50% of the market share and the remaining market share is distributed among a large number of small manufacturers. Mars, Inc., Del Monte Foods, Hills Pet Nutrition, INC, Unicharm Corporation, Nippon Formula Feed Manufacturing Company LTD, Pet Center, Incorporated (PCI), Nestle Purina PetCare, Nisshin Saifun Group INC. Natural Dog Food Company, Halo, Purely for Pets, Marukan CO. LTD., Nutrena, and Spectrum Brands, INC. are the major companies in the market.
Frequently Asked Questions
As of the latest market report, the Pet Food Market in Asia-Pacific is estimated to be valued at USD 21.04 billion in 2023.
Industry projections estimate a compound annual growth rate (CAGR) of 7.42% for the Pet Food Market in Asia-Pacific, indicating sustained growth and market expansion.
The Pet Food Market in Japan caters to the aging pet population by offering specialized senior formulations and addressing age-related health concerns and nutritional needs.
In the pet food market, Japan has the largest market share within the region.
Mars, Inc., Del Monte Foods, Hills Pet Nutrition, INC, Unicharm Corporation, Nippon Formula Feed Manufacturing Company LTD, Pet Center, Incorporated (PCI), Nestle Purina PetCare, etc... are some of the major key players involved in this market.
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