DNVN - With people, especially young people, willing to spend money on pets, the trend of personifying pets and considering them as family members is considered a favorable factor for the pet industry in Vietnam to develop strongly in the coming time.
At the Petfair Vietnam 2025 exhibition held on December 11 in Hanoi, Mr. Le Quang Thong - Chairman of the Vietnam Small Animal Veterinary Association (VSAVA) said that the pet industry in Vietnam is on the rise, driven by many socio-economic factors. Rising incomes, declining birth rates, and increasing numbers of single-parent families and the elderly have created conditions for pets to become indispensable "members" in many modern families.
TGM's survey shows that 56% of Vietnamese people consider dogs and cats as family members. In particular, after the COVID-19 pandemic, families are paying more attention, especially young people. Currently, 1 in 5 Vietnamese households has a dog, 1 in 7 households has a cat and the number increases every year.
The number of pets in Vietnam has been increasing steadily by 5% each year since 2017. In 2023, there will be about 12 million dogs and cats, of which 5.58 million are cats and 6.48 million are dogs. The number of pets is expected to reach 16 million by 2027.
Google Keyword Planner survey results show that searches for pets in Vietnam are increasing rapidly, from 1 million in 2019 to 1.9 million in 2021.
The increasing trend of raising dogs and cats has led to an increase in many pet care products and services.
In fact, the younger generation not only has more pets but is also willing to spend more on care, food and services. This is a potential customer group for specialized products and services.
In addition, pet owners' habits have changed from using human leftovers to using separate foods and specialized nutritional products. In 2016, the pet food industry was worth 29.6 million USD, increasing to 54.4 million USD in 2020 and is expected to reach 94.2 million USD in 2025.
Mr. Thong added that the trend of personalizing pets is promoting the development of health care, beauty and pet hygiene services. The market increasingly favors environmentally friendly and high-tech products.
"It can be said that the above trends show strong interest from the market and the development potential of the pet industry in Vietnam. This industry is facing a great opportunity to break through and become a notable economic sector in the near future," said Mr. Thong.
However, according to the Chairman of VSAVA, the pet industry is also facing challenges as pet owners increasingly demand higher quality services from food to health care. Building professional services to meet diverse needs is a problem that businesses need to solve in order to survive and develop.
Meanwhile, citing the survey results of Grand View Research, Mr. Nguyen Ba Vinh - Director of Minh Vi Exhibition & Advertising Services Company Limited (VEAS) said that global spending on pets in 2027 is expected to reach 360 billion USD. Last year, the US market alone spent about 140 billion USD on pets. Recently, there have also been some pet-specific airlines or 4-5 star hotels exclusively for pets.
Mr. Nguyen Ba Vinh - Director of Minh Vi Exhibition & Advertising Services Company Limited (VEAS).
"From current trends, it can be seen that the pet industry in Vietnam will develop strongly, not only serving domestic demand but also exporting to high-end markets such as the US, Japan or the European Union. To contribute to the general development of the Vietnamese pet industry, Minh Vi Exhibition and Advertising Services Co., Ltd. (VEAS) with the support of the Korean Pet Products Export Association (AKPPE) as well as other domestic and international associations will coordinate to organize the PetFair Vietnam 2025 exhibition in June next year," Mr. Vinh shared.
Petfair Vietnam 2025 is expected to be the leading trade bridge, promoting business and building long-term cooperative relationships for many Vietnamese and international enterprises operating in the field of products, technology, and pet care services, contributing strongly to the development of the pet industry.
The organizers hope to open up a new industry, create many jobs, thereby contributing to Vietnam's GDP and export growth in the global pet industry map in the future.
Up to now, many leading enterprises such as Unicharm, Achaupharm, Vet Superior, Dibaq/Fitmin, BARD, R&S International, Vietnam Food, Magic Pet... have confirmed their participation in the exhibition.
At Petfair Vietnam 2025, participating units will introduce thousands of pet-related products and services, from food, toys, fashion to medical services and pet care. In addition, the exhibition also brings together suppliers of raw materials, supplies, machinery and technology for pet product manufacturing, especially leading OEM/ODM suppliers, helping to create exclusive products and expand international cooperation opportunities.
In addition, the exhibition also organizes many experiential activities for customers, providing in-depth information in the veterinary field as well as support programs for startups in the pet industry.
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Source: https://doanhnghiepvn.vn/kinh-te/kinh-doanh/tiem-nang-nganh-cong-nghiep-thu-cung-ty-do/20241211033845843
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