The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2018
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Shifting market frontiers and premiumisation are two megatrends that form the framework of pet care development in Southeast Asia. The influence of social media, progress of e-commerce, and potential of pet treats are key factors to drive growth in the region. This report concludes with what these developments mean for industry players, both global and local.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Pet care is shaped by megatrends that affect global markets over a long-term period. The Asian Century within Shifting Market Frontiers and Premiumisation are key defining megatrends behind the emergence of trends and developments in Southeast Asia
As consumers are increasingly influenced by health trends and exotic products in their own lives, they are also looking for similar products and benefits for their pets. Pet treats represents a category with room for growth as indulgence in premium products becomes more mainstream even for pets.
Social media has become integral in the region, as disposable incomes rise and access to smartphones and the internet improves. Sharing snippets of their lives and looking for information online have become more common than ever, and with it drives knowledge of proper pet ownership and maintenance.
The purchasing journey, from collecting information to payment and delivery, begins to matter more to consumers in Southeast Asia. Store-based retailers may face challenges in offering a value-added experience for pet owners. Many consumers have turned to internet retailing for a one-stop solution.
The usual suspects (Mars, Nestlé and Colgate-Palmolive) and Charoen Pokphand Group are the top global companies in Southeast Asia. Other regional players manage to make the top 10 albeit each with much smaller market share. As affordability is still key for repeat purchases, lower prices for pet food that are localised could help to boost prospects for pet care.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.