Vietnam Pet Food Market-Growth, Trends and Forecast (2020 - 2025)

Vietnam Pet Food Market is segmented by Product Type (Dry Food, Wet Food, Treats/Snacks, and Others), By Animal Type (Dogs, Cats, Birds, and Other Animals), & By Distribution channel (Specialized Pet Shops, Supermarkets/Hypermarkets, Online Channel, and Other Channels)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

5.7 %

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Market Overview

The Vietnam pet food market is projected to grow at a CAGR of 5.7% during the forecast period (2020-2025). Vietnam is a very nascent market and recently opened up the consumer space. The very low consumer awareness levels not just regarding the different products but also about the basics of pet healthcare, ownership is a challenge to the pet market. Despite these factors, Vietnam is a newly induced market space with lax regulatory structures giving significant leverage to big players. International brands, especially mid-priced brands, are expected to maintain their leading positions in the category, as the presence of local brands remains negligible. The success of the pet foods here is largely dependent on the interaction capabilities of the manufacturers with the customers and promotional strength of the companies. Higher disposable incomes, rising demand for other pet food as well as busy consumer lifestyles are the key factors supporting this growth.

Scope of the report

Vietnam Pet Food Market segmented by Product Type (Dry Food, Wet Food, Treats/Snacks, and Others), By Animal Type (Dogs, Cats, Birds, and Other Animals), & By Distribution channel (Specialized Pet Shops, Supermarkets/Hypermarkets, Online Channel, and Other Channels)

Product Type
Dry Food
Wet Food
Treat/Snacks
Others
Animal Type
Dogs
Cats
Birds
Other Animals
Distribution Channel
Specialized Pet Shops
Online Channel
Supermarket/Hypermarket
Other Channels

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Key Market Trends

Specialized Pet Shop in Vietnam is Driving the Sales of Pet Food

Pet humanization is a trend highly seen in major urban cities like Ho Chi Minh City (Saigon) and Hanoi, and in secondary urban centers of Hai Phong, Can Tho and Da Nang of Vietnam. According to UNESCAP, Large concentrations of middle-class families in these places, are usually in their 30's or older are with full control of family budgets and are responsible for all purchases that include pet food and pet services. Vietnam's pet food sector is open for business and the industry's success will be largely dependent, on the promotional strength and consumer interaction capabilities of the manufacturers. Most of the specialized pet shops in Vietnamese are family financed due to very high leasing rates in urban centers, local products relying on expensive imports, supply chain and warehousing issues, a restrictive legal and business environment, difficulties in obtaining investment and operating capital from financial institutions. Profit margins are slim as Vietnamese pet owners buy on price, as they prefer the economy to mid-priced products. The emergence of these modern pet retail shops is being developed by young, pet-loving entrepreneurs seeing the need to offer pet care products and services for small companion animals. The SpringGroup, formerly known as VeeGroup has launched the first of all pet stores named PetCity and has its presence in Hanoi (5), Hai Phong (1), Ho Chi Minh City (3) and Da Nang (1). Pet Lovers Centre is the Singapore based, first international pet store opened in Vietnam in 2017.

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Export of Pet Food is Dominating the Vietnam Pet Food Market in Terms of Value

Vietnam's pet product manufacturing sectors of pet food, for both export and local markets, are in a state of developing. According to the International Trade Centre, The United States, China, Cambodia are the major importer of pet food from Vietnam with the United States holding a major share. Competition is fierce from an abundance of inexpensive pet products of low to economic price range in the region. International manufacturers from Japan (Hotta) and USA (RefinedKind Pet Products) have their pet products manufactured in Vietnam through private manufacturing agreements with local Vietnamese OEM companies, where all products are shipped and sold outside Vietnam. Kim Binh Minh Co., Tran Danh Co., Ltd. Lien Thang Manufacturer, Investment & Trading Co., are the leading top three manufacturers of pet products in Vietnam not only for the local market but also for the international market.

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Competitive Landscape

The Vietnam Pet Food Market is consolidated with the top global players occupying a major share in the market. The competition in the market is driven by consumer loyalty. Since pets would crave for the same kind of food every time during any particular growth stage, gaining a market share of competitors is very tough in the market. Mars Inc, with its early entry and long-standing advantage, had gained the consumer loyalty, which in turn is driving its growth in the country. The other important players are Pacific E Port Trading Viet Nam, Sim Commodities (Vietnam) Co., Ltd, Sunsetpet, Thanh Cong Comp. Ltd., ITsco- Pantone USA, Doggy Man Vietname Co ltd, and Agridient.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porters Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Dry Food

      2. 5.1.2 Wet Food

      3. 5.1.3 Treat/Snacks

      4. 5.1.4 Others

    2. 5.2 Animal Type

      1. 5.2.1 Dogs

      2. 5.2.2 Cats

      3. 5.2.3 Birds

      4. 5.2.4 Other Animals

    3. 5.3 Distribution Channel

      1. 5.3.1 Specialized Pet Shops

      2. 5.3.2 Online Channel

      3. 5.3.3 Supermarket/Hypermarket

      4. 5.3.4 Other Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Mars Inc.

      2. 6.3.2 Nestle SA (Purina)

      3. 6.3.3 Colgate Palmolive ( Hill's Pet Nutrition)

      4. 6.3.4 Merric Pet Care

      5. 6.3.5 Royal Canin

      6. 6.3.6 Perfect Companion Vietnam

      7. 6.3.7 J.M. Smucker

      8. 6.3.8 Ainsworth Pet Nutrition

      9. 6.3.9 Dr. Clauders

      10. 6.3.10 Vietnam Happychews Pet Foods

      11. 6.3.11 Doggy Man Vietname Co ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19

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