Asia Pacific Pet Food Market Is Expected to Reach Usd 10,720.0 Million in 2020

Transparency Market

Research

Canned Fruits Market - Global Industry Analysis, Size, Share,

Growth, Trends and Forecast 2013 - 2019

Published Date

08-04-2013

62 Page Report

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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

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Canned Fruits Market

REPORT DESCRIPTION

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 members,...