Asia Pacific Pet Food Market is Growing at a CAGR of 2.3% from 2014 to 2020

Asia Pacific Pet Food Market is Growing at a CAGR of 2.3% from 2014 to 2020

  • Submitted By: amyjames
  • Date Submitted: 05/04/2016 3:18 AM
  • Category: Business
  • Words: 1048
  • Page: 5

Transparency Market

Canned Fruits Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2013 - 2019

Published Date

62 Page Report

Buy Now

Request Sample

Press Release
Asia Pacific Pet Food Market is Expected to Reach USD 10,720.0 Million
and in terms of volume is Expected to Reach 803.3 kg Million in 2020

Transparency Market Research
State Tower,
90, State Street, Suite 700.
Albany, NY 12207
United States

Canned Fruits Market


Multinational companies have long aimed to the large number of Asian households and their need for
various goods and services. On the basis of daily spending levels of US$2-US$20, the Asian Development
Bank estimates 56% of the population could be regarded as middle class in 2002, representing a
significant growth from only 21% in 1990. Thus, the proportion of middle-class spenders is rising at an
unwavering pace.
With rising incomes comes the financial ability to splurge on luxuries such as pets. The pet population in
Asia Pacific has been growing at a steady rate over the last decade and more, leading to pet food
manufacturers increasingly looking at APAC as the market of the present and future.
With Australia and New Zealand included, where pets outnumber humans, Asia’s total pet population
totaled to approximately 488 million in 2011, which makes for a whole lot of pet food. Asia Pacific makes
up a significant chunk of this pet population, thanks to the growing figures in Australasia, India, and China.
Additionally, with growing wealth and busy lifestyles, couples tend to have fewer children, which is another
reason why pets are becoming more popular.
How is Japan a Strong Contender in Pet Food Market in Asia Pacific?
Amongst all the APAC national markets for pet food, Japan is the largest, where more and more people
consider pets to be family...

Similar Essays