Bangkok (VNA)🍸 – Thailand remains the world’s fourth largest pet food exporter, tapping into a booming global market valued at over 280 billion USD.
The country’s Commerce Ministry’s Trade Policy and Strategy Office (TPSO) revealed that Thai pet food exports surged 31.47% year-on-year in the first nine months, reaching 80.61 billion THB (2.32 billion USD).
TPSO director general Poonpong Naiyanapakorn said that dog and cat food accounted for the largest share, at 71.47 billion THB, increasing 39.11% year-on-year. Exports of other pet food were worth 9.14 billion baht, decreasing 8.03%.
Thailand’s top 10 pet-food export markets are the US, followed by Japan, Italy, Australia, Malaysia, the Philippines, Germany, the UK, China’sTaiwan, and India.
Last year, Thailand ranked as the world’s fourth largest pet food exporter, accounting for 8.39% of the global market share, behind Germany (13.07%), the US (9.81%), and France (9.77%).
According to Global Market Insights, the global pet care market (food, care products, and services) grew to 280 billion USD in 2022.
The growth was driven by owners increasingly viewing their pets as family members, it added.
The market forecaster predicts the global pet-care market will grow at 7% annually to reach 550 billion USD in 2032./.
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