THE PET AND ANIMAL FOOD MARKET OF THE PHILIPPINES IS ALL SET TO RISE IN THE COMING YEARS

 

THE PET AND ANIMAL FOOD MARKET OF THE PHILIPPINES IS ALL SET TO RISE IN THE COMING YEARS

ABSTRACT



The Philippines is one of those nations on the Asian continent that has the highest ownership rates of pet animals like dogs and cats. Due to this trait of the country, the demand for pet food also rises every year in the country and the same is going to happen this year too. In the past five years, the demand for US pet food is rising several folds.

In the year 2021, the Philippines Import Data recorded imports of pet food worth USD 51 million only from the United States. The total domestic sales of pet food in the Philippines were USD 434 million in the year 2021 and are projected to grow by 9% in 2023. The main animal products include both, dry and wet pet food, treats, and mixtures.

In the upcoming year 2023, the domestic sales of pet food will reach USD 434 million. Dry dog food is the most popular type of pet food that is in demand in the nation as it is affordable and convenient to carry. On the other hand, wet cat food is preferred by all cat owners in the country. 

CURRENT TRENDS OF IMPORTS AND EXPORTS OF PET FOOD

As per the Philippines Import Data for the year 2021, the nation imported pet food worth USD 51 million from the United States which was the largest up till now from the United States. This was a 3% increment as compared to the last year’s statistics.

The sales of only dog food are predicted to grow by 9% in the year 2023. Whereas cat food sales are expected to grow by 13% this year.

As per the Philippines Trade Data of many years, it is known that the Philippines imports pet food the most from Thailand, the United States, and the European Union. In the time span of 2017-2021, Thailand kept the exports of pet food to the Philippines growing, i.e., from USD 18.5 million (2017) to USD 71 million (2021).

 

 

The top exporters of pet food to the Philippines with their percentage shares are:

·        Thailand (36% of total pet food imported by the Philippines)

·        United States (26% of total pet food imported by the Philippines)

·        European Union (15% of total pet food imported by the Philippines)

·        Australia (12% of total pet food imported by the Philippines)

·        China (11% of total pet food imported by the Philippines)

The reason why the United States is not the top contributor is that the exporters from the United States have to face high tariff payments during exports accompanied by low competitive shipping prices as compared to other countries like China, Australia, or New Zealand.

Based on some older records of the Philippines Export Data of animal and pet food, i.e., for the year 2020, we got to know that the Philippines was the 90th biggest exporter of animal and pet food across the globe with total exports of USD 3.15 million. The major countries to whom the Philippines exported these products were:

·        South Korea (USD 1.42 million)

·        Vietnam (USD 660 thousand)

·        The United States (USD 285 thousand)

·        Czechia (USD 240 thousand)

·        Cambodia (USD 175 thousand)

CONCLUSION

Indeed, the Philippines is one of the most pet-friendly countries on the Asian continent. With the highest number of pet owners on the continent, the nation requires an abundance of pet food supplies so as to keep the pets of the nation happy and healthy. It is predicted that in the future, the number of pet owners would rise in the nation and hence the demand for pet food. So, it is a good opportunity for the countries like the US, Thailand, and European Union countries to export their produce to the Philippines.

 

 

GET IN TOUCH WITH US FOR MORE INFORMATION

Being an international trader and marketer, it is advisable that you should stay in touch with the international trade information of the countries with whom you are going to trade. To ease your work and save you time, we are available for your assistance as we provide the best and most accurate Import Export Data and Global Trade Data at affordable pricing.

For more information, connect with us over email info@tradeimex.in or surf through our website for more details. We wish you happy and profitable international trading ahead.

 

 

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