Asia Pacific Vegan Pet Food Market to Grow at a CAGR of 8.6% to reach US$ 1,781.11 Mn Million from 2021 to 2028

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)

Publication Month : Jul 2021

  • Report Code : TIPRE00023588
  • Category : Food and Beverages
  • Status : Published
  • No. of Pages : 101
Inquire Before Buy

PRICING

$3000

$1800

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

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

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
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Pet Type, and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, China, Japan, South Korea

  1. Halo Pets                                                                                                 
  2. YARRAH   
  3. Antos B.V.                                                                                               
  4. V-dogs                                                                                                     
  5. Benevo   
  6. Soopa Pets  
  7. Wild Earth                                                                                                                                                                                            
  8. Vegan4dogs

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Asia Pacific Vegan Pet Food Market