Market Entry - Pet Nutraceuticals Market in Bangladesh: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

The fastest growing segment in the food sector is the pet food industry, driven by increasing number of people adopting pets and consumer attitudinal change towards pets, with a focus on their nutrition and health. In the US, 52% of the baby boomer generation own small pets. Companies adopting channel specific product development, demand for veterinary use as dietary supplements and for their therapeutic applications including pain relief, weight management, digestive health, immune system, eye care, food allergies etc. are driving the pet food nutraceuticals industry. The developing countries are posting rapid growth as customers from especially, China, Taiwan, and Thailand, with their increasing levels of pet humanization, perceive pet food as a quick and easy solution to provide nutrition to their pets. In the developed countries the pet nutraceuticals market is matured. The leading players in this market are Diana group, DSM, BASF, Merial, Nutraceutical International LLC and Kemin.

About the Geography

Bangladesh  is the eighth most populous nation in the world, with a democratic government at its helm. The country is seen as extremely poorand under-developed, due to devastating natural disasters, and the socio-political instability. However, the country has the advantage of being in a strategic geographical position between South and Southeast Asia making it an entryway to both these markets.

The Bangladesh government is active ely seeking foreign investment, particularly in areas of energy and infrastructure. Many incentives are offered through industrial policy, growth strategy by exports and public-private partnership (PPP) program launched in 2009. The government’s strategic vision for 2021 plans growth through massive investment in infrastructure, skill development and trade. In general, there are no restrictions on foreign property or investment. However, four sectors remain restricted to the government, i.e., arms and ammunition, forest plantations, nuclear energy, and security printing. 

Major challenges companies face is the lack of transparency in government procedures, a slow bureaucratic process associated with procurement practices, and corruption. However, a steady CAGR of at least 5.3% over the last 16 years, competitive labor force, large English-speaking base along with a strong consumer base, makes Bangladesh a popular choice among investors.

  • Recently, many developed Asian countries have outsourced their factory production, mainly textile, to Bangladesh owing to its low and efficient production capabilities.

 

Component Name

Unit

From Site

GDP

USD billion

195

GDP Annual Growth Rate

%

7.05

GDP Per Capita

USD

973

Unemployment Rate

%

4.3

Wages

USD/Month

32.553

Inflation Rate

%

5.53

Consumer Price Index (CPI)

Index Points

230

Interest Rate

%

6.75

Loans to Private Sector

USD million/billion

79.98 billion

Balance of Trade

USD million/billion

(- 0.794 billion)

Business Confidence

(No Units)

9.96

Manufacturing Production

%

9

Ease of Doing Business

(No Units)

174

Competitiveness Rank

(No Units)

106

Corruption Rank

(No Units)

139

Consumer Spending

USD million/billion

149.950 billion

Corporate Tax Rate

%

27.5

Sales Tax Rate

%

15

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

 

 

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of  Pet Nutraceuticals Market by Type (USD millions)

                4.1 DOGS

                4.2 CATS

                4.3 BIRDS

                4.4 FISH

                4.5 Others

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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