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19 Sep 2024

Econ Digest

The Thai pet food market in 2024 is growing significantly in both export and domestic sales, driven by the popularity of the pet ownership trend

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The Thai pet food business trend
  • Thailand’s pet food market value for 2024 is expected to grow by 15.8% from the previous year, driven by the increasing demand for pet food in line with the increasing pet population. The Bangkok Metropolitan Area is a potential growth area as it has the largest number of pets and the pet owners with higher purchasing power.
  • The value of Thai pet food exports for 2024 is expected to grow by 19.5%, compared to a contraction of 15% reported for 2023, due to the gradual recovery of demand from major trading partners from a low base such as the US, Italy, and Japan, which together account for more than 50% of the total export value. In addition, exports to secondary markets continue to expand well, especially the UK and New Zealand.

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