The Vietnam pet food market size was USD 63.80 Million in 2022 and is likely to reach USD 136.30 Million by 2031, expanding at a CAGR of 8.8% during 2023–2031. The growth of the market is attributed to the rising demand for various types of pet food.
The pet foods are the foods with extra health benefits with addition to the basic nutritional value. Pet food is used for dogs, cats, birds, fish, and other pet animals. The pet food generally consists of meat byproducts, vitamins, grains, meat, and minerals. The pet food is helpful for the overall growth of the pet.
The COVID-19 pandemic affected the demand and supply of Vietnam pet food market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Pet Food Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for pet food and high disposal income is expected to drive the Vietnam pet food market during the forecast period.
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Rising concern for pet animals about health and nutrition is projected to drive the Vietnam pet food market during the forecast period.
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Government support and availability of leverage for the big players is expected to boost the Vietnam pet food market.
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Factors such as lack of acceptance of pet food in some countries, different regulatory bodies and lack of raw materials are restraining the growth of the market during the forecast period.
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Lack of awareness with pet health nutrition in small village is hindering the Vietnam pet food market during the forecast period.
Scope of Vietnam Pet Food Market Report
The report on the Vietnam pet food market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Pet Food Market - Vietnam Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2018–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Dry Food, Wet Food, Treats/Snacks, and Others), Animal Types (Dogs, Cats, Birds, and Others), and Distribution Channels (Specialized Pet Shops, Supermarkets/Hypermarkets, Online Channel, and Others)
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Regional Scope
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Vietnam
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Happy Chews PetFood; Mars Inc.; Colgate Palmolive (Hillspet); Nestle Purina Petcare Company; Perfect Companion Vietnam co. Ltd
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Pet Food Market Segment Insights
The wet food segment is expected to grow at a rapid pace
Based on product types, the Vietnam pet food market is divided into dry food, wet food, treat/snacks, and others. The wet food segment is expected to grow at a rapid pace during the forecast period. The pet food which is made from high use of water is more useful solution to support hydration level in the domestic animals.
Increasing adoption of wet food by pet owners due to its advantages such as build lean muscle mass, increase energy, and stimulate the overall growth mechanism of animals. However, the treat/snacks segment is anticipated to hold a key market share during the forecast period due to busy life of the peoples prefers packed food for the pet animals.
The dog segment is projected to expand at a considerable CAGR
On the basis of animal types, the market is segmented into dogs, cats, birds, and others. The dog segment is projected to expend at a considerable CAGR during the forecast period. The dog is popular pet among the young generation and is used for the security purpose. On the other hand, the bird segment is anticipated to hold a key market share during the forecast period due to increasing bird owners.
The specialized pet shop is anticipated to constitute a key market share
Based on distribution channels, the Vietnam pet food market is divided into specialized pet shops, supermarkets/hypermarkets, online channel, and others. The specialized pet shop segment is anticipated to constitute a key market share during the forecast period owing to large concentration of middle-class families to purchase pet food and services after the age of 30. On the other hand, the online channels segment is anticipated to hold a key market share during the forecast period due to increasing urbanization and online facilities.
Segments
The Vietnam pet food market has been segmented on the basis of
Product types
- Dry Food
- Wet Food
- Treats/Snacks
- Others
Animal types
Distribution channels
- Specialized Pet Shops
- Supermarkets/Hypermarkets
- Online Channel
- Others
Country
Key Players
Competitive Landscape
Some of the key market players competing in the Vietnam pet food market are Happy Chews PetFood; Mars Inc.; Colgate Palmolive (Hillspet); Nestle Purina Petcare Company; Perfect Companion Vietnam co. Ltd
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development for different types of pets to sustain industry position in the market.
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