Asia Pacific Vegan Pet Food Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Dry Food, Wet Food, and Others), Pet Type (Dogs and Cats), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
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The vegan pet food market in Asia Pacific is projected to reach US$ 1,781.11 million by 2028 from US$ 997.22 million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028.
People value their pets and are also ready to spend significant money on keeping them healthy. The pet owners who are vegan prefer to feed vegan food to their pets. Most of the pet owners always opt for products that have clean labels, sustainability claims, and functional nutrition. Pet lovers also increasingly look for labels and packaging that reflect their personal food choices and demands. Majority of the Asia Pacific population consider their pet as a family member. Out of other pets such as birds, rabbits, fish, and others, dogs and cats are the most preferred owing to their friendly nature. Dogs are known for their loyalty and bravery. In addition, some of the families own more than just one dog, making them an integral part of the household. Moreover, the number of pet-friendly workplaces in are increasing at a significant rate across the Asia Pacific. Many children are asked by their parents to take care of their pets by themselves. It provides companionship and helps them develop a sense of responsibility. Some young couples also decide to start their family by adopting a dog and treating it like their own child. In every family, pets play a different role as they are trained in a different manner in different countries. This growing humanization of pets increases the awareness regarding the quality and ingredients of the pet food provided by the owners, which propels the demand for the vegan pet food. Furthermore, people are more concerned about the slaughter of defenseless creatures and the decimation of the environment because of animal agriculture. Some people adore their pet so much and they understand that the animals also have emotions such as pain, hunger, love, joy, fear, thirst, and loneliness, like humans. Hence, they prefer vegan diet both for themselves and for their pets, which bolsters the growth of the vegan pet food market.
The COVID-19 outbreak is anticipated to cause a significant economic loss in Asia Pacific. The consequence and impact are likely to worsen with the spread of the virus. The governments of various Asia Pacific countries-imposed lockdowns in early 2020 to restrict the spread of the virus, which in turn, negatively impacted the production of vegan pet food. The governments have asked the animal feed manufacturers to delay their production, which has adversely affected the world-wide supply of pet food, including vegan pet food. However, the government of different countries in Asia Pacific are now offering vaccination to people and taking precautionary measures to protect people against the spread of Covid-19. The governments of various countries in the region have realigned their operations, restructured their production facilities, and procured raw materials required for vegan pet food in advance to avoid an imbalance between supply and demand. Also, e-commerce network is playing a major role in food and pet food product distribution during the pandemic, and people mostly prefer buying products online.
With the new features and technologies, companies can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the vegan pet food market. The Asia Pacific vegan pet food market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Vegan Pet Food Market Segmentation
Asia Pacific Vegan Pet Food Market – By Product
- Dry Food
- Wet Food
- Others
Asia Pacific Vegan Pet Food Market – By Pet
- Dogs
- Cats
Asia Pacific Vegan Pet Food Market – By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
Asia Pacific Vegan Pet Food Market – By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
Asia Pacific Vegan Pet Food Market – Companies Mentioned
- YARRAH
- Antos B.V.
- V-dogs
- Benevo
- Soopa Pets
- Wild Earth
- Vegan4dogs
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific vegan pet food market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific vegan pet food market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the vegan pet food market as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution