Pet Fair Southeast Asia: a catalyst for pet industry growth

The third edition of “Pet Fair Southeast Asia 2024” kicked off on Wednesday at the Bangkok International Trade and Exhibition Centre (BITEC). Organised by VNU Exhibitions Asia Pacific, in collaboration with public and private sector partners and running until tomorrow (November 1), the fair aims to drive long-term growth and strengthen the pet industry.

A global hub for the pet industry, the event is spread over 20,000 square metres of exhibit space and the participation of nearly 400 exhibitors from 40 countries and trade visitors from over 80 countries.

It features international pavilions from 12 countries and an extensive conference programme with over 40 expert speakers. Among them is the Thai Pet Avenue highlighting innovative products from Thai small and medium enterprises that blend creativity with quality.

A dedicated Pet Trade Service Consultant Zone allows experts to offer advice for businesses wanting to expand into new markets, on such issues as trade regulations, imports, exports and global product standards.

Special events include the Networking Night at Pet Square, the Pet Innovators Pitch on Thursday, and the Soi Dog Donation Campaign to improve the welfare of dogs and cats on Friday.

The three-day event is expected to welcome over 10,000 visitors, generating up to US$25 million (850 million baht) in trade value from deals closed during and after the fair.

To meet environmental preservation trends, carpets at the Pet Square Zone are 100% recyclable, while waste generated from booth construction will be used for clean energy production.

Benefits to MICE and pet industries

Presiding over the opening ceremony, Jeroen Van Hooff, president and CEO of Royal Dutch Jaarbeurs, noted that the pet industry in Southeast Asia has experienced an exponential growth, especially in Thailand.

Thailand’s pet industry is expected to grow by 10% annually, thanks to the country’s potential in pet food manufacturing, cutting-edge facilities and highly skilled workers, he explained.

He added that Thailand also has potential in the MICE (Meetings, Incentive Travel, Conventions, and Exhibitions) industry for its service and hospitality, which support business partnerships and “bleisure” travel.

Hooff expects the pet industry to grow further due to “pet humanisation”, in which pets are more seen as family members than companions.

“More people are transitioning from being the best owners to the best parents,” he said, adding that city expansion, households without children and seniors are contributing to the trend of pet humanisation.

Echoing Hooff, Thailand Convention and Exhibition Bureau (TCEB)’s senior vice president, Salanroj Sutaschuto, said the Asian pet industry is growing rapidly due to lifestyle changes.

The exhibition underscores the increasing importance of the pet industry in Southeast Asia and worldwide, he said, adding that he expected the fair to improve the Thai pet industry and build collaboration among industrial experts.

“TCEB remains committed to connecting international businesses with opportunities in Thailand across a range of sectors,” he said, “We are confident that the fair will continue to drive innovation and economic progress.”

“Pet Fair Southeast Asia has become a key meeting point for the global pet industry in this dynamic region,” said David Zhong, founder and president of Globus Events.

“Together with our partners at VNU Exhibitors, we are proud to deliver a platform that opens new market opportunities,” he added.

Pet industry to grow further

The pet industry has a positive future growth outlook in the next 10 years, as people continue to buy pets or spend more on their pets, Johannes C Kraus, senior project manager of VNU Exhibitions Asia Pacific, told The Nation in an interview.

He noted that the impact of inflation on purchasing power, as well as the rise of artificial intelligence (AI) on people's lives would disrupt the growth of the pet industry.

However, he does not expect that AI would cause people to pay less attention to their pets, saying that the more technological our world becomes, the more people would be looking for animal companionship.

As the global market is progressing towards a green economy with consumers paying more attention to sustainable products, Kraus advised entrepreneurs to carefully listen to consumer demands and launch unique products that other companies do not offer.

“Listening to the market very closely and identifying trends early is something that every entrepreneur depends on,” he added.

Thailand’s pet food prowess

Thailand plays a pivotal role in the pet industry as a global leader in pet food production and the second-largest exporter following Germany, Phusit Ratanakul Sereroengrit, advisory team to the Commerce Ministry, reckoned.

By the close of the third quarter of 2024, Thailand’s pet food exports surpassed $2.2 billion (74.23 billion baht), reflecting a notable 26% growth year-on-year.

“This impressive expansion underscores the dedication and expertise of Thai pet food manufacturers in delivering high-quality, internationally acclaimed products that cater to a broad spectrum of consumers across the global market,” he said.

To sustainably enhance the Thai pet industry, Phusit said the ministry is promoting free trade agreement talks and enabling Thai entrepreneurs to expand their business internationally.

Somchuan Ratanamungklanon, director-general of the Department of Livestock Development, said the pet food has been recognised as a sustainable sector with strong potential to generate substantial income and drive national growth.

He added that the department has established the Pet Food Service Centre to streamline services and serve as a central hub for the industry.

“We have also launched the New Single Window electronic system to enhance convenience and expedite processes for pet food entrepreneurs. These efforts have contributed to the development of a competitive and sustainable pet food industry in Thailand aligned with international standards,” he said.