APAC Pet Food Market Outlook 2032
- The APAC Pet Food market was valued at US$ 428.8 Mn in 2022
- The market is estimated to grow at a CAGR of 9.5% from 2022 to 2032
- The APAC Pet Food market is expected to reach US$ 1.06 Bn by the end of 2032
APAC Pet Food Market Introduction
Pet food manufacturers are using a wide range of agricultural ingredients that are carefully chosen based on the breed, nutrient profiles, and functional contribution. This is expected to drive the market growth for APAC pet food market in the next few years. Ingredients for pet food include meat, meat byproducts, cereals, grains, poultry, seafood, and products created during the processing of food for human consumption. Rise in awareness about the health of pets has led to an increase in demand for pet foods with more nutrient-dense, scientific formulas including lifecycle products for young and old pets as well as therapeutic foods for specific health conditions such as weight loss and urinary issues. Additionally, pet food manufacturers are inclined to use more protein-rich tissue and less fatty tissue and tallow. Increase in pet ownership along with rise in demand for high-quality and premium food products for pets offers significant opportunities for the pet food market in APAC.
Get PDF sample for Industrial Insights and business Intelligence –
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4306
Pet Humanization Boosting Demand for Pet Foods in APAC Market
Pet humanization is a concept where people consider pets as one of their family members and are highly receptive to products that are similar to the ones they use for themselves. The possibilities of new innovative products in the pet sector increase due to the humanization of animals. Various manufacturers are expanding their product lines and getting ideas from daily activities to give pet owners products that strengthen their bond with their animals. Manufacturers are offering premium ingredients and developing new product lines due to the rise in consumer demand for natural and healthy products. Pet owners are prepared to pay more for foods that support certain nutritional requirements of their animals, such as gut health, healthy weight, and good aging. Spending on things to maintain pets’ comfort, health, amusement, and tranquility has increased more than ever. Rise in sales of pet products and services can be ascribed to the steady growth in consumer expenditure on household and pet care categories.
Rapid Urbanization in Developing Countries Fueling Market Demand for Pet Food Products
Urbanization is on the rise, especially in developing countries. Increase in urbanization has made consumers more aware of recent launches in the pet food market and the products that offer the necessary nutrition. Urbanization has also increased their awareness about products from other countries. This has helped the pet food market gain traction in countries such as India and China. Thus, manufacturers have started investing in business expansion in developing countries, since opportunities in developed countries are fast reaching saturation. For instance, in January 2020, Mars Petcare unveiled its premium pet nutrition brand, IAMS, in India. IAMS, a global brand, provides pet parents with a wide choice of specialized nutritional solutions based on the breed, age, and size of the pet. The brand aims to create new categories by spreading awareness about the advantages of pet food over home-cooked food among pet parents.
Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=4306
Rise in Adoption of Raw Frozen/Refrigerated Pet Food to Create Opportunities for Manufacturers
In terms of process, the APAC pet food market has been classified into high-pressure processing (HPP), raw frozen/refrigerated, and freeze dried. The raw frozen/refrigerated segment held major volume share of 61.0% of the APAC pet food market in 2022. Rise in demand for raw frozen/refrigerated pet food is creating lucrative opportunities for manufacturers. Frozen pet food is healthy as it does not contain any preservatives and processing. Frozen pet food is a feasible option for those who want to provide their pets with fresh whole food without the hassle of preparing it by themselves.
Increase in Demand for Chicken in APAC Pet Food Market
In terms of product type, the APAC pet food market has been segregated into beef, chicken, pork, lamb, turkey, and others based on ingredients used to prepare pet food. The chicken segment dominated the APAC pet food market in 2022 with 27.9% share. Furthermore, the segment is expected to register the highest CAGR of 12.3% during the forecast period. Chicken pet food is a good source of energy, as it is lean meat and ideal for canines and dogs. Chicken helps build lean muscle mass, provides omega 6 fatty acids, and offers energy to promote bone health in dogs and cats. Dog food manufacturers & suppliers are focusing on developing healthy snacks such as dog biscuits and organic food products. This is expected to drive the dog food market growth during the forecast period.
Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=4306
Analysis of Key Players in APAC Pet Food Market
The APAC pet food market is consolidated, with a small number of large-scale vendors that control majority of the share. Most of the firms are investing significantly in comprehensive research and development activities, primarily to introduce innovative products. Mergers and acquisitions and development of product portfolios are major strategies adopted by key players. The APAC pet food market assessment report includes pet food industry statistics, competition analysis, and recent developments. Champion Pet Foods, Morasch Meats (Northwest Naturals), Primal Pet Food Group, Diamond Pet Foods, General Mills (Blue Buffalo Ltd.), Mars, Incorporated, Bravo Pet Foods, M.I. Industries (Instinct), and Stella & Chewy’s, LLC are the prominent entities operating in the market.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
