Thai pet food firms urged to sniff out ‘big opportunity’ in China
Thai pet food companies have been urged to tap China's growing trend of pet ownership.
"Thailand has a chance to expand its pet food market share in China, thanks to Chinese people's rising demand for pets," said Department of International Trade Promotion (DITP) director-general Phusit Ratanakul Sereroengrit on Thursday.
The value of China's pet food market has surged from 105.80 billion yuan in 2019 to 140.10 billion yuan (700 billion baht) this year, Phusit said, citing a report from the Office of International Trade Promotion in Qingdao.
He said the majority of China's pet food market is currently controlled by foreign companies, but domestic firms are developing pet food production facilities to take back market share. However, there are still big opportunities in China’s market for Thai pet food manufacturers, he added. He recommended e-commerce platforms, trade promotions, short video clips, and partnering with local celebrities as ways for Thai businesses to tap market opportunities. He said Thai pet foods are already available on Chinese e-commerce platforms such as JD.com and Taobao.
He also advised Thai businesses to study Chinese consumer behaviour and develop pet foods to meet their demands.
China consumers are increasingly keen on healthy pet foods made from natural or organic ingredients, he added.
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