Pet food sales in Asia are increasing nearly 6 percent annually, reaching more than US$6.5 billion in 2016. Most individual pet food markets in the region are rising by double digits, according to Euromonitor International, thanks to overall economic and income growth and the increasing numbers of pet owners feeding commercial, packaged pet food.
Professionals in these markets can learn information and tips for taking advantage of this growth during Petfood Forum Asia 2018, scheduled for March 28, 2018. Co-located again with Victam Asia 2018 at the Bangkok International Trade and Exhibition Center, Petfood Forum Asia will feature industry experts presenting the latest information on the human-pet bond, pet food e-commerce, pet food ingredients, energy-efficient pet food drying and production flexibility. Early bird registration is available via www.PetfoodForumEvents.com/Asia.
Fast-growing pet care markets
Japan is by far the largest market in Asia, accounting for more than half of the region’s US$9.8 million dollars in pet care sales (all pet products). Yet Japan is experiencing no growth, according to Euromonitor, in direct contrast to other Asia-Pacific markets. China, for example, is experiencing at least 14 percent growth annually and has reached about US$1.5 billion in pet food sales, according to GfK. Online pet food sales in China are especially robust, growing over 40 percent a year.
Though other markets in Asia are small (less than US$1 billion in annual pet care sales), they are seeing growth ranging from 10 percent in the Philippines to more than 26 percent in India. Also registering double-digit sales increases are Thailand (13.7 percent) and Indonesia (14 percent), with Hong Kong, South Korea, Taiwan and Malaysia enjoying still healthy growth rates of 8.8, 7.6, 7.6 and 6.2 percent, respectively.
Isolating pet food sales, the growth is often even more robust. For example, Euromonitor projects that economy-priced dry pet food in Korea will grow at 15 percent or more annually through 2022. And as in China, e-commerce is a strong retail channel in Korea, accounting for 30 percent of pet food sales, second only to grocery stores at 35 percent.
Petfood Forum Asia topics
As of press time, the following topics have been confirmed for Petfood Forum Asia on March 28:
- Why the human-animal bond is the top ingredient for pet food success
- Process solutions for current pet food trends
- Creating value with alternative protein sourcing while ensuring palatable pet foods
- Health benefits of nutritional lipids beyond regulatory recommendations
- Building a social community to support pet food e-commerce
- Using novel technologies to extract pet food nutrients from single-cell organisms
- Decreasing dryer variation to sustainably raise discharge moisture, increase capacity, reduce energy
- An energy-efficient pet food process design for chilling, cooling and drying
- Beta-glucans effects in pets: benefits and possible applications
For updates, visit www.PetfoodForumEvents.com/Asia.
Spotlight on Asia pet food markets
South Korea: www.PetfoodIndustry.com/articles/6638
China: www.PetfoodIndustry.com/articles/6641
Philippines: www.PetfoodIndustry.com/articles/6679
