2014-01-09 12:28:02 - Dog Food in Vietnam - a new market research report on companiesandmarkets.com
In 2013, sales of dog food in Vietnam will continue to grow strongly thanks to several reasons. The first reason is the large increase in the number of rare and expensive dogs imported to Vietnam in 2012 for many purposes, such as for keeping as pets or security guards, participating in dog contests, and purebred breeding. The increase of dogs led to a greater demand for dog food products, especially for the expensive dogs, to ensure the pets are healthy enough to live well and to fulfil their roles. Another significant reason was that people in big cities like Ho Chi Minh and Hanoi, who were very busy, did not have much time to prepare meals for their pets, thus
tended to use more packaged food to save time. Lastly, due to the increasingly busy nature of modern life, the Vietnamese tended to have less time to confide or share feelings with anyone, thus they had a tendency to have pets as close friends, and therefore care more about their pets, giving them the best foods they could.
Mars Inc remained the leading producer of dog food with a value share of 88% in 2012. Over the review period, Mars Inc was continually the leading manufacturer, with a portfolio of products including dog food with two prestigious brands, Pedigree and Royal Canin. Mars Inc is well known for its good distribution system across the country, particularly supermarkets and pet shops. As such, Vietnamese consumers can easily purchase products in the most popular supermarkets.
Over the forecast period, dog food is expected to see a constant value CAGR of 7%, which is slightly higher than the constant value CAGR in the review period. Increasing demand for dog food is attributable to an increasing trend of companionship, where people treat their pets as friends or family members. The number of consumers who are willing to spend more money on high-quality dog food to ensure the best development of their pets will increase.
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