#Vietnam #Hanoi #ONE-VALUE #Vietnam Pet Food #Pet Industry

The Growing Pet Food Market in Vietnam

Vietnam's pet food market is experiencing a significant transformation, with projections indicating that it will reach a staggering $136 million by 2029—tripling from its size in 2019. This surge is attributed to a promising annual growth rate of 9.9% from 2024 to 2029, particularly for dog and cat food products. Notably, while these pets only represent 39% of the total pet population, their products are expected to dominate 86% of the market share by the same year.

In 2023, imported pet foods accounted for 86% of the total market value, highlighting the influential role of international brands. China stands out as the largest exporter to Vietnam, contributing to 39% of the total imports. This reliance on imports underscores both challenges and opportunities within the domestic market.

Insights from the Report

The detailed report by ONE-VALUE delves into the various facets of Vietnam's pet food business landscape:

Market Overview and Key Players

The report thoroughly covers the market's overall condition and key players. Vietnam's pet food sector showcases a remarkable growth pace among CPTPP member countries, with the market expected to quadruple from 2019 to 2029. Yet, the dominance of imports, mainly from global brands such as Mars, PCG, and ADM, presents a formidable challenge to local manufacturers. The analysis includes trends in market size evolution, shares of leading companies, and the status of retail channels. Special attention is given to major wholesalers, such as Fusion Group, City Zoo, and C.K. International, which play a critical role, accounting for 33% of the market.

Consumer Behavior and Market Trends

Consumer spending in Vietnam’s pet food market reveals that 80% of pet owners spend less than 1 million VND per month on pet food, indicating a strong leaning towards mid-priced products. Key factors influencing purchasing decisions include quality, price, ingredients, and functionality. A growing interest in nutritious and organic options is being observed, leading to an analysis of the different types of dog and cat foods available, their price ranges, and consumer purchasing habits. This section sheds light on emerging trends such as organic, grain-free, and supplemental pet foods, essential for understanding the future growth of the market and identifying entry points for new players.

Regulatory Landscape and Future Outlook

Leveraging reliable resources, including Vietnamese government regulations, local news, and company documents, the report presents a clear overview of the market. ONE-VALUE’s expertise in the region equips the report with essential insights despite the current scarcity of information in the pet food industry.

Report Contents

The report consists of the following key sections:
1. Executive Summary
2. Overview of Vietnam's Pet Food Market
- Market size from 2019 to 2029
- Projected growth rates and pet population breakdown
- Import market share and country-wise ratios for 2023
3. Market Trends in Pet Food
- Types and price ranges of dog and cat foods
- Consumer expenditure and purchasing criteria
- Popular product line-ups
4. Key Players in the Market
- Market shares of leading pet food brands and flagship products
- Domestic companies involved in pet food imports and sales
- Expansion efforts of retailers into other pet-related fields
5. Regulatory Insights and Future Opportunities
- Legal regulations affecting the pet food sector
- Import procedures for pet food
- Entry opportunities in Vietnam's pet food market

For more information on purchasing this report and exploring Vietnam's pet food business landscape further, please visit ONE-VALUE's report site.

About ONE-VALUE

Since its inception, ONE-VALUE has been dedicated to human resource utilization and management consulting in Vietnam. The company leverages deep industry knowledge and extensive practical experience to provide solutions for clients operating between Japan and Vietnam. Through its focus on Vietnam, ONE-VALUE offers a vast network and industry insights, making it a valuable partner for businesses looking to navigate this dynamic market.