The pet industry is growing rapidly.
Petfair Vietnam 2024 Exhibition on pet care technology, products and services in Vietnam is considered the most notable pet event held in Vietnam this year. The event is co-organized by Minh Vi Exhibition and Advertising Services Co., Ltd. (VEAS), Beyond Beijing Technology Co., Ltd. (China), with support from domestic and international associations such as: China Pet Industry Association (CPIA), Korea Pet Products Export Association (AKPPE), Vietnam Farm Association...
Many delegates visited the booth displaying Truoo Pet Care pet food - a new brand of De Heus Group (Netherlands). Photo: TH
This year's exhibition is expected to attract more than 6,000 trade visitors, more than 200 exhibitors from 12 countries and territories, notably booths from countries such as: Korea, Thailand, Taiwan, China, Germany, the United States...
At Petfair Vietnam 2024, exhibitors introduced thousands of products and services related to pets, from food, toys, fashion to medical services and pet care. In addition, booths also introduced many types of raw materials, supplies, machinery, pet product manufacturing technology... At the exhibition, visitors were also introduced to pet hotel services, special cosmetics for pets.
A booth representative said that this exhibition gives visitors a comprehensive view of the pet products supply chain, from raw materials, the latest processing and manufacturing techniques, to packaging solutions and final products.
The exhibition introduces a variety of ready-made pet foods, which not only help pets ensure balanced nutrition, easy absorption in the climate and living conditions in Vietnam, but also help pets have smooth fur, less odor...
In recent years, the pet ownership community in Vietnam has grown rapidly. In the period 2016-2021, it is estimated that the number of pets in Vietnam has increased from 21 million to 27 million, mainly dogs, cats, hamsters, and rabbits. For dogs and cats alone, there are currently about 11.8 million, and by 2027, this number is expected to increase to 16 million.
According to Dr. Le Quang Thong - Head of the Faculty of Animal Husbandry and Veterinary Medicine, Ho Chi Minh City University of Agriculture and Forestry, pets are now "personified" and considered a member of many families. That opens up a series of opportunities for the veterinary medicine market, pet products and services to develop strongly. In the past 5 years, the veterinary medicine market has always grown at double-digit rates. Notably, in 2022, the growth rate reached 38%.
According to a report by Mordor Intelligence, the size of the Vietnamese pet food market is estimated to reach 141.88 million USD in 2024 (about 3,500 billion VND) and is expected to reach 222.36 million USD in 2029, growing at a CAGR of 9.40% during the forecast period (2024-2029). In particular, dogs dominate the pet food market in Vietnam due to a larger population and higher per capita consumption compared to other pets.
Vietnam is considered to have one of the fastest growing pet food industries and the significant presence of youth and teenagers as pet parents is also one of the unique factors driving the country’s pet food market.
In 2022, Vietnam's pet food market accounted for 0.4% of the Asia-Pacific pet food market, but Vietnam's market share is expected to grow faster in the coming years as young people become high-income earners. This is expected to increase the demand for high-quality pet food products in the country in the coming years.
The exhibition is expected to attract more than 6,000 trade visitors and more than 200 exhibitors from 12 countries and territories. Photo: QD
According to Mordor Intelligence, dogs are the major pet segment in the pet food market in Vietnam, with a market share of up to 76.4 million USD by 2022. The higher share of these pets is due to the larger number of pets among all pets and the relatively higher consumption of pet food. Dogs will account for 45.1% of the total number of pets in the country by 2022, followed by cats and other animals, with market shares of about 38% and 16.9%.
However, cats are the fastest growing pet segment in the market, expected to register a CAGR of 10.7% over the forecast period, with increasing disposable income among pet owners driving the shift from homemade to commercial foods.
De Heus Group aims to become the leading pet food brand produced in Vietnam, with food products specifically for dogs and cats of all ages. Photo: TH
Although the market is very open, according to experts, for a long time, the pet food sector as well as accompanying products and services have not received much investment from domestic businesses and manufacturers, and are mostly dominated by foreign brands.
Within the framework of the exhibition, there are also specialized seminars, courses, pet shows, pet care competitions and outstanding activities such as: VIP buyer program from Southeast Asia, Europe and America; "Pet Top Model" fashion show - feast your eyes with extremely special performances from "pets"; Seminar on "Animal welfare, sustainable livestock development and export" organized by the Vietnam Farm Association (VFAEA).
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