Thailand's pet industry has gone through the pastAfter 15-20 years of development, the annual output value is currently around 40 billion baht, and it is expected to surge to over 60 billion baht in 3-4 years. In the Pet food segment, which accounts for the largest proportion of output value, dry food accounts for 60% and wet food accounts for 30%, with an average annual growth rate of about 13%. Dry food is slightly higher than wet food. It is expected that the cat and dog food market is expected to achieve 15% growth this year.

In addition to the traditional Pet food and pet toy industries, Thai developers have also launched pet friendly apartments and pet hospitals in recent years to meet the needs of urban New Youth for pet friendly living.

The pet economy is an emerging field of business that has emerged with the improvement of human living standards, mainly including pet buying and selling, pet manufacturing, and pet services. Among them, pet buying and selling includes pet sales, pet rental, pet breeding, and pet breeding, among which a wide variety of pet cats and dogs are the most popular, with prices of precious breeds generally exceeding 10000 yuan.

Pet manufacturing mainly includes Pet food, pet clothing, pet accessories, pet appliances, etc. In addition to pet feed, prescription food, dried chicken, canned fish and shrimp, Pet foodStaple foodIn addition, there are also leisure snacks for pets. The level of drama in pet clothing products is no less than that of human clothing, including wearing hatsCold protective clothingWaterproofleather jacketCasual coat, auspiciousnesstraditional Chinese garments、Student attireWait, the matching pet accessories are even more dazzling. Pet appliances include tableware, water supply, neck strap, Stuffed toy, maintenance supplies, etc.

Pet services mainly focus on pet grooming and pet healthcare, including ear washing, hair cutting, nail trimming, styling, etc. The fees vary depending on the type of dog. Regular large pet hospitals are also similar to human hospitals,DivisionSeek medical attention, have an operating roomShadowless lamp,EndoscopyandB-ultrasound、X-ray machineElectrocardiographWait a minute. Other pet services include pet matchmaking, pet photography, and pet care.

With the rapid economic growth in Southeast Asia, the region has become one of the key markets for the rise of the pet economy. According to the survey,The top three pet owners in Southeast Asia in 2021 are dogs, cats, and goldfish, with approximately 50% of pets being kept by young people aged 26 to 35, which is full of huge business opportunities.

Thailand has become one of the fastest growing pet economies in the world. Only from the perspective of Pet food export, the data shows thatIn 2022, the export volume of Pet food from Thailand to the global market will be 2.847 billion US dollars, up 15% year on year, second only to the EU, the United States and China, and ranking first in ASEAN. Thailand has become the fourth largest exporter of Pet food in the world, of which the main Pet food exports are dog and cat food, accounting for 86% of the total export of Pet food. Its Pet food export continues to grow at an average annual growth rate of 13%, with an average annual growth of 1.522 billion US dollars.

Similarly, pet consumption in Thailand is also very hot. Taking the pet care industry as an example, according to data from the Ministry of Commerce,In 2021, the total output value of the industry reached 4.267 billion baht, with a net profit of 127 million baht, an increase of 176%. As of December 31, 2022, Quantai has operated 562 pet care centers with a total registered capital of 1.359 billion baht.

Thai pet industry practitioners have stated that the epidemic has accelerated the enthusiasm of Thai people for pet ownership. At the same time, aging and late marriage without children have made pet ownership a new rigid demand in life, and loneliness can be partially alleviated through pet ownership.

Thailand should seize the opportunity of this economic growth, improve relevant laws and regulations, introduce preferential policies, maintain consistency with international standards in product hygiene, and expand its international influence while revitalizing the domestic pet economy.