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The Malaysian pet food market is projected to witness a CAGR of 6.1% during the forecast period (2022-2027).
The COVID-19 pandemic had a significant influence on Malaysia's pet food sector. Due to the panic purchase of pet food by pet parents in March and April of 2020, there was a big supply and demand discrepancy. With the supply chain interruptions and poor logistic services, the pet food industry was unable to meet demand. Consumers preferred to shop through e-commerce because of the lockdown restrictions, which resulted in a surge in internet sales. With the restrictions being uplifted in the country, the market is slowly getting back on track with the sales and production, and it is anticipated to grow during the forecast period.
The growing trend of pet humanization has made Malaysian pet owners more conscientious about ensuring their pets get the greatest nutrition possible. The provision of quality cat food for the aging Malaysian cat population has been aided through innovation, which has helped to lengthen their longevity. Pet food is gaining popularity in Malaysia due to its high nutritional value. It is easily digested by pets and helps avoid health issues like food allergies, obesity, and a sensitive stomach. Premium pet foods are natural, organic, of higher quality, and safer than regular pet foods. With the increasing demand for premium pet foods globally, several companies are planning to produce high-quality pet food products to occupy major market shares in the segment. The rising e-commerce has also positively impacted the pet food market in the country. Various online retailing players are delivering pet food to consumers’ doorstep. This easy availability of various pet food products has increased their demand globally, especially for premium pet food. Due to increasing pet parenting, coupled with rising awareness of feeding pets with premium and packed pet food, the pet food market in the country is anticipated to grow during the forecast period.
Scope of the Report
Pet food includes food for pets, like cats, dogs, birds, and other animals, typically sold in supermarkets, pet stores, etc. The Malaysian pet food market is segmented by animal type (dogs, cats, and other animal types), product type (dry pet food, wet pet food, veterinary diets, treats and snacks, and other products), and distribution channel (specialized pet shops, supermarkets/hypermarkets, online channel, and other channels). The report offers the market size and forecasts in terms of value in USD thousand for all the above segments.
|Other Animal Types|
|Dry Pet Foods|
|Wet Pet Food|
|Specialized Pet Shops|
|Other Distribution Channels|
Key Market Trends
Increasing Pet Humanization
Pet ownership is shifting to millennials, resulting in a shift in attitude toward pet ownership and the adoption of western culture. As per a survey conducted in 2021, it was observed that Malaysia was one of the top 10 countries where the pet humanization rate had spiked up in 2020 from the past five years. In 2020, according to the Department of Statistics Malaysia, the country's working population (15-64 years) is about 69.7% of the total population, and they have adopted pets, especially cats and dogs. According to a study in 2021 on the impact of pets on the mental health of the Malaysian working-class population, it was observed that in comparison with people without animals, pet owners had significantly higher levels of mental well-being, and they felt they could cope better with adverse situations and experienced significantly more positive emotions during the lockdown. Many pet associations are also taking various initiatives regarding the adoption of pets in the country. For instance, Voice For Paws holds adoption drives in Malaysia’s biggest city, Kuala Lumpur. The pets are put on display so people can play with them to see if they feel a connection. Consumers, who are fully aware of the labeling and substances used in food products, are concerned about the safety and nutritional needs of pets. However, due to an increase in the country's middle-class population and a better level of disposable income, people are ready to spend more on their pets than in the past, particularly on higher-quality pet food. Furthermore, this tendency coincides with the expansion of particular pet food segments, such as healthy snacks, specialty pet foods, and other high-end products. Therefore, with the increase in pet adoption rates and increasing disposable incomes of people, the market is anticipated to grow during the forecast period.
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Growing Trend of E-commerce is Driving the Market
Customers are increasingly using e-commerce platforms for multitudes of purposes, and this trend has influenced the pet food products available online. With the increasing number of internet users, the e-commerce trend may fuel the market further. There was a significant increase in pet food sales through e-commerce channels during the COVID-19 pandemic, as pet owners prefer online purchases due to safety reasons and the closure of brick-and-motor stores. In Malaysia, high internet access has encouraged the adoption of e-commerce sites as a viable distribution method. Due to the convenience and wide choice of products, online sales of pet food had a market share of 24.7% in 2020, which is expected to grow during the forecast period. Convenience, prosperity, exclusivity, and market knowledge are all important factors in the Malaysian pet food business. The market is being fueled by the government's fast urbanization and connection programs, such as Paws Animal Welfare Society, Penang Animal Sanctuary Society, Penang Animal Welfare Society, SPCA Penang, and SPCA Selangor. Consumers have been forced to rely on imported goods due to the unreliability of local goods. An increase in the number of smartphone users, internet users, and young pet owners, coupled with innovations in product offerings and marketing strategies in e-commerce, may encourage higher pet food sales in the country.
The Malaysian pet food market is consolidated, with major players holding the majority of the market share. Mars Inc., Nestle Purina Petcare Company, Perfect Champion Group (Charoen Pokphand Group), and Colgate Palmolive (Hill’s Pet Nutrition) are the key players in the market. The major players in the industry are continuously competing with local players' low prices and trying to gain a significant market share in Malaysia. These major players are investing in new products and improvisation of products, expansions, and acquisitions for business growth. Another major area of investment is the focus on R&D to launch new products at lower prices.
In June 2021, Mars Incorporated launched the latest additions to its dog food portfolio with Karma brand's plant-first formulas available across all markets, including Malaysia. Karma recipes are formulated with plant-based superfoods, like flaxseed, chickpeas, dried coconut, chia seed, dried pumpkin, kale, etc., supplemented with real chicken or white fish.
In October 2020, Mars Petcare acquired Nom Ocean Fish, a science-forward technology company improving the lives of pets through fresh food for cats and dogs. It will integrate the brand within its Royal Canin division.
In May 2019, Nestle Purina’s Purina Pro Plan veterinary supplement launched Calming Care, a probiotic supplement that contains a strain of beneficial bacteria that help dogs remain calm. It helps dogs cope with separation, unfamiliar visitors, novel sounds, or changes in routine and location.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Animal Type
5.1.3 Other Animal Types
5.2.1 Dry Pet Foods
5.2.2 Wet Pet Food
5.2.3 Veterinary Diets
5.2.5 Other Products
5.3 Distribution Channel
5.3.1 Specialized Pet Shops
5.3.3 Online Channel
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Competitive Landscape
6.3 Company Profiles
6.3.1 Nestle Purina Petcare Company
6.3.2 Ban Leong Shell Products Sdn Bhd
6.3.3 Perfect Champion Group
6.3.4 Colgate Palmolive (Hill's Pet Nutrition)
6.3.5 Powerpets Food Sdn Bhd
6.3.6 Royal Canin Malaysia Sdn Bhd
6.3.7 Mars Inc.
6.3.8 Alltech Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Malaysia Pet Food Market market is studied from 2017 - 2027.
What is the growth rate of Malaysia Pet Food Market ?
The Malaysia Pet Food Market is growing at a CAGR of 6.1% over the next 5 years.
Who are the key players in Malaysia Pet Food Market ?
Mars Inc., Colgate Palmolive ( Hill's Pet Nutrition), Nestle Purina, Perfect Champion Group , Ban Leong Shell Products Sdn Bhd are the major companies operating in Malaysia Pet Food Market .