October 27, 2024 | 12:00am
Special Report
(Conclusion)
MANILA, Philippines — The country’s pet food market is projected to grow at a compounded annual growth rate of six percent between 2022 and 2027, according to the US Pet Food Institute.
The top five pet food companies in the Philippines are Mars Philippines Inc., Pet Plus Global Marketing Corp., Consumer Care Products Inc., Pet Discount Inc. and San Miguel Foods Inc., according to the market monitoring of the US Pet Food Institute.
Based on the same report, Mars Philippines Inc., the local affiliate of multinational Mars Inc., corners at least a third of the country’s pet food market.
The country imported some 176 million kilograms of dog and cat food worth $200 million in 2023, based on Philippine Statistics Authority data.
The country’s top dog and cat food suppliers are Thailand, China, Italy, Australia, France, the United States, South Africa, Austria, Malaysia and Vietnam.
The Agriculture and Agri-Food Canada (AAFC) noted that the Philippines is the 30th largest global importer of pet food and the seventh largest in the Indo-Pacific region last year.
The Philippines posted the “most rapid growth” in the region, recording a compounded annual growth rate of 21.2 percent from 2019 to 2023, according to AAFC.
Competition from imports
Edwin Mapanao, president of the Philippine Association of Feed Millers Inc. (PAFMI) says local pet food makers can compete with multinationals and even against imported products.
“How come TopBreed (of Universal Robina Corp.) is selling? How come Yum Yum (of UNAHCO) is selling?” he asks.
AAFC noted that growth of dog food in the country is slowing down due to “significant challenges” posed by “heavy” reliance on imports.
The international agency says global supply chain disruptions, exacerbated by geopolitical tensions, hindered the flow of imported dog food into the country.
These market challenges create opportunities for local pet food manufacturers.
“Consequently, consumers have turned to alternative, often local, and more affordable brands,” it says.
And just how serious are the local feed millers in capitalizing on the pet market boom?
PAFMI is set to attend Pet Fair Asia 2024 in Bangkok, Thailand, next week to gain a deeper understanding of the growing regional and global pet food markets.
The group is also developing a series of training modules across the entire pet value chain to be rolled out next year. The envisioned program would include immersion, trade missions and business matching, according to PAFMI.
“We are open to collaboration with global/local players who are experts in these fields,” Mapanao says in a post on his LinkedIn account, which has already gained thousands of impressions and multiple comments signifying intentions for partnership.
Mapanao says this alone shows the potential growth of the country’s pet food industry in the coming years.
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