Growing awareness regarding pet health to boost demand for pet food in asia pacific, reports tmr

Transparency Market Research

Pet Food Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Published Date 08-04-2015

62 Page Report

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Press Release Growing Awareness Regarding Pet Health to Boost Demand for Pet Food in Asia Pacific, Reports TMR

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Asia Pacific Pet Food Market

REPORT DESCRIPTION

The presence of a number of large-scale companies, such as Nestlé, Procter & Gamble Co., Mars Inc., and Colgate-Palmolive Co. points towards a high degree of competition within the in Asia Pacific pet food market, finds a report by Transparency Market Research (TMR). Regional pet food producers are facing great difficulties in gaining a foothold in this market due to the loyal customer base these brands have created.

The Asia Pacific market for pet food presented an opportunity worth US$9.1 bn in 2013, states the report.

Analysts at TMR project this market to expand at a CAGR of 2.30% during the period from 2014 to 2020 and increase to US$10.7 bn by the end of the forecast period. In terms of volume, the market is likely to reach 803.3 kg million by 2020. Dog food registered a higher demand than other pet food in 2013. With a CAGR of 2.40% between 2014 and 2020, the segment is expected to remain dominant throughout the forecast period.

View exclusive Global strategic Business report :http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4306 Rising Demand for Pet Food in China and India to Affect Japan Pet Food Market Based on the geography, the Asia Pacific pet food market has been spread across Japan, China, South Korea, Australia, India, and the Rest of Asia Pacific. Among these, Japan has surfaced as the leading consumer of pet food, thanks to the high awareness level regarding pet health.

In 2013, the country held a share of 41.1% in the overall market. However, in the near future, the demand for pet food is likely to escalate significantly in India and China, impacting the Japan pet food market negatively. The changing lifestyle of consumers is anticipated to boost the demand for pet food in China and India, which are expected to report a CAGR of 8.0% and 12.50%, respectively, between 2014 and 2020.

Increase in Awareness Levels regarding Pet Health Fuels Demand for Pet Food “Keeping a pet and spending on its care have a cultural as well as social importance in Asia Pacific, leading to a high count of pets here,” states an analyst. Due to the growing awareness pertaining to pet health, together with the increasing disposable income of consumers, the demand for pet food in Asia Pacific has been witnessing a tremendous rise and is expected to remain increasing over the coming years.

Apart from this, the increasing palatability of pet food products, due to the intensifying competition between producers, is also attracting a significant amount of demand, leading to a remarkable growth in this market in the long term.

Growing Trend of Smaller Pets to Limit Pet Food Consumption

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Asia Pacific Pet Food Market

Although representing a bright future, the pet food market in Asia Pacific is anticipated to face quite a few hurdles during the forecast period. The main among them is the growing trend of smaller pets. As smaller pets require less amount of food, the consumption will reduce automatically, causing an adverse impact on the Asia Pacific pet food market in the near future. Other than this, stringent government rules implemented to regulate the quality of pet food are also projected to hinder the growth of this market considerably over the next few years, states the research report.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Pet Food Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

The Asia Pacific market for pet food is segmented into:

By Pet Type •

Dog Food

•

Cat Food

•

Others

By Food Type •

Dry Food

•

Wet Food/Canned Food

•

Nutritious Food

•

Snacks/Treats

•

Others

By Country •

China

•

India

•

Japan

•

Australia

•

South Korea

•

Rest of Asia Pacific

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Asia Pacific Pet Food Market

TABLE OF CONTENT

Chapter 1 Preface 1.1 Report description 1.2 Research scope 1.3 Research methodology Chapter 2 Executive Summary Chapter 3 Asia Pacific Pet Food Market Analysis, by Pet Type 3.1 Overview 3.2 Dog Food 3.2.1 Market size and forecast, 2013 – 2020 3.3 Cat Food 3.3.1 Market size and forecast, 2013 – 2020 3.4 Others 3.4.1 Market size and forecast, 2013 – 2020 Chapter 4 Asia Pacific Pet Food Market Analysis, by Food Type 4.1 Overview 4.2 Dry Food 4.2.1 Market size and forecast, 2013 – 2020 4.3 Wet Food/Canned Food

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Asia Pacific Pet Food Market

4.3.1 Market size and forecast, 2013 – 2020 4.4 Nutritious Food 4.4.1 Market size and forecast, 2013 – 2020 4.5 Snacks/Treats 4.5.1 Market size and forecast, 2013 – 2020 4.6 Others 4.6.1 Market size and forecast, 2013 – 2020 Chapter 5 Asia Pacific Pet Food Market Analysis, by Country 5.1 Overview 5.2 China 5.2.1 Market size and forecast, 2013 – 2020 5.2.2 Brand Share, China Pet Food Market, 2013 5.3 Japan 5.3.1 Market size and forecast, 2013 – 2020 5.3.2 Brand Share, Japan Pet Food Market, 2013 5.4 Australia 5.4.1 Market size and forecast, 2013 – 2020 5.4.2 Brand Share, Australia Pet Food Market, 2013 5.5 India 5.5.1 Market size and forecast, 2013 – 2020

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Asia Pacific Pet Food Market

5.5.2 Brand Share, India Pet Food Market, 2013 5.6 South Korea 5.6.1 Market size and forecast, 2013 – 2020 5.6.2 Brand Share, South Korea Pet Food Market, 2013 5.7 Rest of Asia Pacific 5.7.1 Market size and forecast, 2013 – 2020

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