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 moreApr 2015
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Going East seems to be a wise decision in the face of sluggish growth in mature markets. Asia boasts opportunities, with a burgeoning middle class and rising disposable incomes. As more consumers switch to commercially prepared pet food, the competitive landscape is increasingly competitive. More players are entering this lucrative market and local players are becoming more savvy. Pet products are also benefiting as consumers in more developed Asian markets flaunt their status and pamper their p
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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.
Asian pet care market dynamics range from very developed but stagnant in Japan, to an “effervescent” Singapore. Soaring pet markets in Thailand and Taiwan have great potential, while the Vietnamese is still quite small.
Asia is very diverse culturally and economically and should not be viewed monolithically. The region’s sizeable Muslim population is particularly important as it has an impact on the pet care market.
While markets such as Thailand have a large pet population, education is key. Consumers need to be made aware of the benefits of prepared diets, as well as of health and supplements.
Local players are targeting consumers who are coming to prepared food for the first time. Economy food needs to be made available to bring consumers into the market. Later, they can trade up.
As in the rest of the world, the “big four” pet care companies, Mars, Nestlé, Colgate-Palmolive and Procter & Gamble, are the leading players.
Local players are upping their game
Dr Dog Co Ltd, Charoen Popkphand or Fwusow Industry Products are in the process of better engaging with consumers and building on their local credentials.
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.