Treats and toppers: a hidden opportunity in the Filipino pet food market
The US Department of Agriculture (USDA) forecasts that imports of cat food will grow 13% this year in the Asian country.
Dog and cat food imports showed “immense growth” in 2021, with Thailand (36%), the US (26%), and Europe (15%) becoming the biggest players.
Dry food forms the majority of dog food sales, with a 9% forecast growth in 2023. Cat food is estimated to grow by 13%, with treats and mixes seen as an opportunity for the local industry.
The Philippines homes the most dogs in Asia, which comprises 67% of the population, and the second highest cat ownership at 43%, according to a 2021 study by Rakuten.
Pet food for birds, fish and small mammals or reptiles remains negligible, averaging $4 million (€3.7M) since 2017.
Despite the lack of official figures, experts believe the local pet industry is worth around ₱6 billion ($108M).