Thailand's Pet Market Growth Fueled by 'Pet Humanisation'
Thailand’s pet market is projected to reach 75 billion baht in 2024, driven by the 'Pet Humanisation' trend. Key factors include an ageing society, lifestyle changes, and technological advancements. Cat products dominate with a 63% market share; dogs hold 31%, and exotic pets 6%. i-Tail Corporation Pcl reported a 30% growth in pet food exports, primarily to the US, Germany, and Japan.
Thailand’s pet market is projected to reach 75 billion baht in 2024, marking a 12.4% year-on-year growth, driven by the 'Pet Humanisation' trend, according to ttb analytics.
This trend, where pets are viewed as family members, has significantly increased pet care expenses, with owners spending 41,100 baht per pet annually, compared to 7,745 baht for free-range pets.
Key factors include an ageing society, lifestyle changes, and technological advancements.
The cat market holds a 63% market share, with dogs at 31%, and exotic pets at 6%, which has seen a 50% increase in sales.
Dr Kritika Chaisupattanakul of Thonglor Pet Hospital noted a growth surge during the pandemic, with projections of 7-9% growth in 2024.
Thailand has around 20 million pets and 3,500 pet hospitals.
Thonglor Pet Hospital and Arak Animal Healthcare plan expansions due to increased competition.
i-Tail Corporation Pcl reported a 30% growth in the pet food market, focusing on exports primarily to the US, Germany, and Japan, with plans to target additional markets.
This trend, where pets are viewed as family members, has significantly increased pet care expenses, with owners spending 41,100 baht per pet annually, compared to 7,745 baht for free-range pets.
Key factors include an ageing society, lifestyle changes, and technological advancements.
The cat market holds a 63% market share, with dogs at 31%, and exotic pets at 6%, which has seen a 50% increase in sales.
Dr Kritika Chaisupattanakul of Thonglor Pet Hospital noted a growth surge during the pandemic, with projections of 7-9% growth in 2024.
Thailand has around 20 million pets and 3,500 pet hospitals.
Thonglor Pet Hospital and Arak Animal Healthcare plan expansions due to increased competition.
i-Tail Corporation Pcl reported a 30% growth in the pet food market, focusing on exports primarily to the US, Germany, and Japan, with plans to target additional markets.
