Asia Pacific Pet Food Market Report and Forecast 2024-2032

Asia Pacific Pet Food Market Size

The Asia Pacific pet food market reached around USD 24.34 billion in 2023. The market is projected to grow at a CAGR of 8.8% between 2024 and 2032, reaching almost USD 52.00 billion by 2032.

Asia Pacific Pet Food Market Outlook

• India has the fifth largest pet population in the world, with 31 million dogs and over 2 million cats.

• In 2023, an estimated 9.07 million households in Japan owned a cat.

• India is expected to emerge as one of the leading markets in the region, growing at a CAGR of 9.7% over 2024-2032.

Asia Pacific Pet Food Market Growth

The increasing number of nuclear families in major metropolitan cities of India is leading towards a shift in mindset towards pet parenting. Pet owners are becoming focused on the quality of ingredients in pet food products, which is prompting market players to manufacture a wide range of human-grade pet food products, including boneless duck, dog wine, Atlantic salmon, and baked treats.

The average monthly expenditure of a pet-owning family in India is over 5,000 rupees, indicating the huge potential for premium and gourmet pet food treats in the nation. Rising disposable incomes are also expected to drive the market growth in the country in the forecast period. Meanwhile, in 2023, 8.69% of all Japanese households owned a cat. The overall spending on pet cats reached 1.50 million yen in 2023 by Japanese customers.

Biscuit-type snacks in different flavours like sweet potato, milk, and cheese are expected to become popular among dog owners in Japan. Major companies are adjusting the content of dairy ingredients in dog food and manufacturing treats that enhance pet dogs’ canine health. In 2022, overall spending on dogs rose to 2.51 million yen in Japan. Exports from ASEAN (especially countries like Thailand) are expected to facilitate the market expansion over the forecast period.

Asia Pacific Pet Food Industry Segmentation

Asia Pacific Pet Food Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Pet Type

• Dogs

• Cats

• Others

Market Breakup by Form

• Dry Food

• Wet Food

• Snacks and Treats

• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Speciality Stores

• Online Stores

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Asia Pacific Pet Food Market Share

Based on distribution channels, the market is divided into supermarkets and hypermarkets, speciality stores, and online stores, among others. Over the forecast period, online stores are expected to emerge as one of the leading market segments, growing at a CAGR of 9.9% between 2024-2032. This can be attributed to the rising demand for premium quality gourmet pet foods and nutritious food to ensure the optimal health of pets.

Meanwhile, speciality stores are projected to witness the fastest growth, expanding at a CAGR of 10.7% during the forecast period of 2024-2032. This is aided by the presence of knowledgeable staff and the provision of attractive discounts such as loyalty points offered by such stores.

Leading Companies in the Asia Pacific Pet Food Market

Major market players are personalising pet food formulas, which are expected to support the intestinal health of pets. Upcycled pet food ingredients which promote overall animal health are also expected to become increasingly popular among consumers.

• Archer-Daniels-Midland Co.

• General Mills Inc.

• Mars Incorporated (Pedigree)

• Nestle S.A. (Purina)

• Colgate - Palmolive Company (Hill's Pet Nutrition, Inc.)

• Unicharm Corp.

• Schell & Kampeter, Inc. (Diamond)

• Virbac S.A.

• DoggyMan H.A. Co., Ltd.

• Perfect Companion Group Co. Ltd.

• Others

Key Highlights of the Report