Market Size of Vietnam Pet Food Industry
| Study Period | 2017-2027 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2020 |
| CAGR | 6.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pet Food in Vietnam Market Analysis
The Vietnamese pet food market is projected to register a CAGR of 6.1% during the forecast period.
- The rising concerns among pet owners about the nutrition and health of their domestic animals are the main factors driving the growth of the pet food market in Vietnam. Major pet retail shops are situated in the popular urban centers of Saigon and Hanoi, Vietnam selling a limited range of products, mostly from international companies, priced in the economy to mid-price range. Also, growing pet care and veterinary activities in the country are boosting the market's growth. Higher disposable incomes, rising demand for other pet food, and busy consumer lifestyles support this growth.
- Additionally, many awareness programs are taking place supporting pet safety and are expected to raise the demand for pet food and pet care products in the country. In 2021, Four Paws International, a global animal welfare organization, called on Vietnamese people to show their opposition to the dog and cat meat trade and called on the Vietnamese government to end the trade.
- A Four Paws survey conducted in early 2021 across Vietnam found that the majority of Vietnamese want their government to take action, with a total of 91% saying the trade should be banned or discouraged. When asked if they would support a ban on the dog and cat meat trade, 88% of respondents said they would favor such a measure. Such measures are expected to drive the market’s growth at a faster pace.
- However, Vietnam is a very nascent market and recently opened up the consumer space, consumers need to be made aware of the different products, and the basics of pet healthcare are a challenge to the pet market. Despite these factors, Vietnam is a newly induced market space with lax regulatory structures, giving significant leverage to big players. International brands, especially mid-priced brands, are expected to maintain their leading positions in the category, as the presence of local brands remains negligible.
