BANGKOK – “Pet humanization” is a growing megatrend, pushing the pet care market to grow to over 40 billion baht (1.1 billion USD) and will reach 60 billion baht (1.8 billion USD) in the next three years, according to the Thai minister.
Chaiya Promma, Deputy Minister of Agriculture and Cooperatives, presided over the opening ceremony of Pet Healthcare 2024, held during March 28-31, 2024 at The Mall Lifestore Bang Kapi, Bangkok, sayingor the care and importance of pets as family members
Factors driving this trend include the increasing number of people choosing to remain single, as well as the growing popularity of pet therapy and the use of pets to alleviate loneliness in older people.
Based on statistics, it was found that in 2019, 34 percent of Thai households owned both dogs and cats combined, amounting to 21 million pets in total: there were 7 million cats and 14 million dogs. By 2022, this percentage increased to 37 percent of Thai households nationwide. It is projected to continue growing annually at a rate of approximately 10 percent.
With this growing trend, business analysts believe that “Pet Humanization” will become a mega trend in the Thai business sector. The pet care market is expected to grow to over 40 billion baht, with an annual growth rate of around 8.4 percent.
This growth is divided into 60 percent for pet food businesses, 30 percent for veterinary clinics and the remaining 10 percent for other sectors. Therefore, pet care is expected to remain an important trend in Thailand for the foreseeable future.
Driving factors for this trend include the preferences of Gen Z, Gen Y, and the elderly population who keep pets as companions, as well as the increasing trend of smaller or childless families opting to have pets.
The Department of Business Development forecasts that the pet supplies market in Thailand will reach a value of 66.7 billion baht (1.8 billion USD) by 2026, with pet food for dogs and cats representing the largest segment and showing continuous growth.
This is closely followed by the group of exotic pets, which includes reptiles such as iguanas, chameleons and snakes as well as birds such as cockatoos, toucans and macaws. Other popular pets include rabbits, ferrets, hamsters and sugar gliders.
The Department of Livestock Development, which is responsible for setting guidelines and policies, monitoring, promotion, research, technology transfer and development of technologies related to animal husbandry, emphasizes the importance of maintaining standards not only for large animals but also for pets, which people nowadays increasingly prefer to keep.
The proper care of pets, which includes health maintenance, prevention and treatment, requires comprehensive knowledge and understanding in every respect. Therefore, the events organized by this department are particularly interesting and relevant.
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