Asia Pacific Vegan Pet Food Market

Market Introduction

Asia Pacific market comprises of several developing and developed economies such as China, India, Japan, South Korea, Australia, among others. These emerging economies are witnessing an upsurge in the middle-class population, coupled with growth in urbanization, offering massive opportunities for the key market players in the vegan pet food market. The increase in the pet population in this region along with the increasing consumer inclination towards vegan diet is going to drive the vegan pet food market in Asia Pacific. There has been a shift in the lifestyle of the people in this region has led to an increase in the number of nuclear families. As the number of households have reduced there has been an increase in the demand for pets which will serve the purpose of companions. The rise of the trend of humanization of pets is also going to drive the growth of the vegan pet food in Asia Pacific. The high internet connectivity in the regions of Asia Pacific will also boost the sales of vegan pet food through e-commerce sites. The popularity and reliance on the branded products in comparison with the local products has led to opportunity window for Asia Pacific vegan pet food manufacturers in this market.

The COVID-19 outbreak is anticipated to cause a significant economic loss in Asia Pacific. The consequence and impact are likely to worsen with the spread of the virus. The governments of various Asia Pacific countries-imposed lockdowns in early 2020 to restrict the spread of the virus, which in turn, negatively impacted the production of vegan pet food. The governments have asked the animal feed manufacturers to delay their production, which has adversely affected the world-wide supply of pet food, including vegan pet food. However, the government of different countries in Asia Pacific are now offering vaccination to people and taking precautionary measures to protect people against the spread of Covid-19. The governments of various countries in the region have realigned their operations, restructured their production facilities, and procured raw materials required for vegan pet food in advance to avoid an imbalance between supply and demand. Also, e-commerce network is playing a major role in food and pet food product distribution during the pandemic, and people mostly prefer buying products online.

Asia Pacific Vegan Pet Food Strategic Insights

Strategic insights for the Asia Pacific Vegan Pet Food provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Vegan Pet Food Report Scope

Asia Pacific Vegan Pet Food Regional Insights

The geographic scope of the Asia Pacific Vegan Pet Food refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The vegan pet food market in Asia Pacific is projected to reach US$ 1,781.11 million by 2028 from US$ 997.22 million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028. owing to the increasing disposable income of pet owners in the region, they are willing to spend more money and resources on their pets. People pay more for pet nutrition every year so that their pet can consume the best quality food prepared with the most apt and nutritious ingredients. The growth of veganism in Asia Pacific has picked up pace in recent years, which drives the pet food sector. Natural and specialty pet products are continuously on demand as consumers extend their personal preferences for wellness and nutrition into the product choices for their pets. There is a surging number of pets found in the region. Therefore, the number of new pet owners is rising, and they tend to thoroughly research the ingredients of the pet food they purchase. Additionally, countries such as India and China are highly developing and have cheap labor costs. Therefore, vegan pet food manufacturers target these markets for expansion and utilize the market potential of these untapped regions/countries. There is also a noticeable growth of the e-commerce sector in the developing countries of Asia Pacific, which paves the way for convenient product distribution. For instance, in China, the pet market is growing since people have more disposable income and can take care for their pet. The pet community is growing in countries, such as India. As per the recent data published on Simply Insurance, till May 2021, China ranked second in the case of cat and dog population, whereas India ranked sixth in the population of dogs. The fastest-growing population of dogs across the world can be found in India. In countries such as India, some people do not consume meat-based diets due to religious beliefs. In the current scenario, like all other countries, India is waking to the ethical, physical, and economic benefits of plant-based and dairy-free food products. The country is known as a dairy-loving country for several decades. However, this picture is changing, and veganism is highly being embraced. This changing pattern of human food habits is implanted with the food offered to pets. With an increasing number of vegan pet owners, the adoption of vegan diet for pets is also rising in India. Therefore, Asia Pacific is expected to create lucrative opportunities for the national and international market players to invest in the vegan pet market in the region during the forecast period.

Key Market Segments

Asia Pacific vegan pet food market is segmented based on product type, pet type, and distribution channel. The Asia Pacific vegan pet food market based on product type is segmented into dry food, wet food, and others. Dry food segment accounted for the highest share in the market in 2020 is expected to be fastest growing during forecast period. Based on pet type, is segmented into dogs and cats. The dogs segment accounted for the highest share in 2020 and is expected to be the fastest growing during forecast period. Based on distribution channel, is segmented into supermarkets and hypermarkets, specialty stores, online retail and others. The supermarkets and hypermarkets segment accounted for the highest share in 2020 and online retail segment is expected to be the fastest growing during forecast period.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on vegan pet food market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Antos B.V.; Bond Pet Foods; Inc.; V-dog; Soopa Pets; Wild Earth; Yarrah; and Halo Pets among others.

Reasons to buy report

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific  vegan pet food market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific  vegan pet food market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Asia Pacific  market trends and outlook coupled with the factors driving the vegan pet food market as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.  

Asia Pacific Vegan Pet Food Market Segmentation

Asia Pacific Vegan Pet Food Market – By Product

• Dry Food
• Wet Food
• Others

Asia Pacific Vegan Pet Food Market – B

y Pet

• Dogs
• Cats

Asia Pacific Vegan Pet Food Market – By Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
• Others

Asia Pacific Vegan Pet Food Market – By

Country

• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia-Pacific

Asia Pacific Vegan Pet Food Market – Companies Mentioned

• YARRAH   
• Antos B.V.                                                                                               
• V-dogs                                                                                                      
• Benevo   
• Soopa Pets  
• Wild Earth                                                                                                                                                                                           
• Vegan4dogs