Demand for pet food in the Philippines is on the rise, according to the US Department of Agriculture (USDA). The FAS in Manila projected that the pet food industry in the Philippines will reach USD 434 million in 2023.
The report also indicates that the dry dog food market is expected to increase by 9%, while the wet cat food segment will grow by 13%. As for food products for birds, fish, and small mammals, they have been seeing minimal growth, with an average of USD 4 million yearly since 2017.
The Philippines is the ninth-largest market in the world for US dog and cat food products, as well as the seventh-largest US agricultural export market. Export of these products to the Philippines has been growing in 2021 and is expected to do so in 2023. Most imported food for cats and dogs comes from Thailand, the US, and Europe. With the emergence of pet store chains, there are now opportunities for product launches of new and imported pet food brands.
Recent surveys have indicated that the Philippines has the highest rate of dog ownership in Asia at 67%, and the second-highest rate of cat ownership at 43%. The Philippine Canine Club, Inc. estimates that the country had 10.8 million dogs in 2020, which marked a 40% increase in puppy registrations during 2021.
(Source: Business World)