Thailand pet-related business
“The pet-related businesses would likely experience continuous growth in Thailand.” said by Nantaphon Tantiwongampai, the vice president of the Thai Pet Products Industry Association.
The pet market for dogs and cats in Thailand is now worth nearly Bt40 billion yearly. The average growth of not less than 10 per cent per year, with food products taking up a big share of its growth, implies the Thai pet product market is going to boom in the future.
What boost the market?
An aging population, same-sex marriage, lower marriage rates, loneliness and love affairs have given an extraordinary promotion in keeping pets in Thailand. According to the survey, the cat population in Thailand has achieved 4 million, which is doubled as much as six years ago. Besides, the dog population is increasing by 10 per cent every year, and the Thai pet lovers prefer small dog rather than large dogs.
The continuous growth is also related to Thai pet lovers’ change of pet breeding behavior. Nantaphon said, pet lovers now treat the pet as their own child not just a housekeeper. Pet lovers provides the pet with details, including food, cloth, and care products. Pet becomes a family member of pet lovers.
The potential space of Thai pet market
The bulkiness of pet food packages, large range of products and regularity in consumption make the product an extremely viable candidate for e-commerce. Packaged Facts, a US market research company, conducted a survey that revealed about one-third of dog owners and cat owners like the idea of home delivery for pet food because it’s an “essential product consumed at a steady rate.”
However, back in years, Thai pet lovers do not have many online platforms available for shopping pet products. Despite specific online marketplaces such as Petpro.co.th and dogilike.com for pets, there is still a lack of reputable products online even though the demand exists. Then in recent years, Lazada and Shopee gradually realized by third-party merchants, and Lazada Thailand reported 600% growth rate in its pet product category. Although the “online shops” is growing, the absence of brands, especially in the mid-priced range, with their own site to promote pet information and offer a new selection of products leaves the online space wide open for new entry by someone new.
Post time: Oct-10-2021
