Market Size of asia pacific pet diet Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 3.58 Billion |
|
|
Market Size (2029) | USD 5.25 Billion |
|
Largest Share by Pets | Dogs |
|
|
CAGR (2024 - 2029) | 7.96 % |
|
Largest Share by Country | China |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Pet Diet Market Analysis
The Asia Pacific Pet Diet Market size is estimated at USD 3.58 billion in 2024, and is expected to reach USD 5.25 billion by 2029, growing at a CAGR of 7.96% during the forecast period (2024-2029).
3.58 Billion
Market Size in 2024 (USD)
5.25 Billion
Market Size in 2029 (USD)
8.75 %
CAGR (2017-2023)
7.96 %
CAGR (2024-2029)
Largest Market by Sub Product
23.49 %
value share, Digestive Sensitivity, 2022
The rising prevalence of digestive issues among pets drives the segment, as these diets contain digestive enzymes that effectively support the healthy gut of pets.
Largest Market by Country
30.68 %
value share, China, 2022
With a growing pet population, the country witnesses a higher demand for veterinary diets, especially digestive, urinary, and renal diets, for pets, thus increasing its market share.
Fastest-growing Market by Sub Product
9.12 %
Projected CAGR, Urinary tract disease, 2023-2029
The increasing prevalence of urinary tract infections among pets and the vital role of these diets in reducing infections and promoting pet health drive market growth.
Fastest-growing Market by Country
14.29 %
Projected CAGR, Philippines, 2023-2029
Rising pet ownership and increasing consumer spending on custom-made veterinary diets based on the health of specific pets in the country drive market growth.
Leading Market Player
9.08 %
market share, Mars Incorporated, 2022
It is the leader, as the company has invested heavily in product launches that target multiple pet health issues, such as digestive and urinary tract diseases.
Dogs dominate the Asia-Pacific pet veterinary diet market owing to their large population in the region and their susceptibility to various health issues
- The Asia-Pacific pet veterinary diet market witnessed a significant surge of 41.4% between 2017 and 2021. This significant growth can be attributed to the continuous advancements in pet nutrition science and research, leading to the creation of more specialized diets that can effectively address a wide range of health conditions in pets. As a result, pet veterinary diets accounted for 10.5% of the Asia-Pacific pet food market in 2022.
- Dogs held the largest share in the Asia-Pacific pet veterinary diets market, accounting for about 48.1% of the market in 2022. This higher market share of dogs is mainly attributed to their large population in the region compared to other pets, resulting in an increasing trend in the incidence of various diseases in dogs. The dog veterinary diets market value is anticipated to register a CAGR of 8.4% during the forecast period.
- Cats held the second-largest market share of 36.8% in 2022. The cat veterinary diet market is witnessing an increasing trend, driven by the rising cat population in the region. The market for cat veterinary diets is projected to be the fastest-growing among animal segments in the region, with an expected CAGR of 8.7% during the forecast period.
- The other pet animals accounted for 15.1% of the market value in 2022. There is a potential market for veterinary diets in other pet animals, as they accounted for 39.5% of the pet population in 2022. The other pet veterinary diets market is anticipated to register a CAGR of 4.3% during the forecast period.
- The growing pet population and the ability of veterinary diets to support various health conditions are the major factors anticipated to drive the market during the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
China dominates the Asia-Pacific veterinary diet market due to higher awareness about the benefits of veterinary diets and the presence of a higher population
- Pet veterinary diets are specially formulated diets that are designed to address specific pet health issues and provide essential nutrition for pets required to meet daily dietary requirements. In 2022, pet veterinary diets accounted for 10.6% of the Asia-Pacific pet food market. The growing awareness about pet health concerns and pet humanization trend among pet owners in Asia-Pacific increased the pet veterinary diets market in the region by 40% between 2017 and 2021. Additionally, the increase in pet population by 12% during the same period is also one of the major factors for the increase in the market.
- In Asia-Pacific, China was the largest country in the pet veterinary diets market, which accounted for USD 952.5 million in 2022. The higher share of the country was because of its higher pet population, which was 53.9% of the Asia-Pacific pet population in 2022. Additionally, the significant presence of the younger population as pet parents has increased their demand with a higher awareness about the use of veterinary diets.
- Japan and Australia were the major countries in the pet veterinary diets market in the region in 2022 because of their higher pet population, the higher pet humanization trend, and the willingness of pet parents in these countries to spend on pet food products.
- However, the growing pet adoption and increasing urbanization are anticipated to drive Thailand and India faster at CAGRs of 13.6% and 13.5% during the forecast period, respectively.
- The increasing pet humanization and growing awareness about the usage of veterinary diets and the increasing younger adult population as pet parents are anticipated to drive the veterinary diets market in the region at a CAGR of 8% during the forecast period.
