Thailand’s pet food exports surge, but rising competition and global risks may slow growth
Thailand’s pet food exports surge, but rising competition and global risks may slow growth
The country is now the world’s second-largest pet food exporter – trailing only Germany – and is projected to grow exports to US$5 billion by 2030.
BANGKOK: Thailand’s pet food industry is riding a wave of global demand, but emerging risks could test its rapid ascent.
The country is now the world’s second-largest pet food exporter – trailing only Germany – with exports projected to reach US$5 billion by 2030.
That momentum has drawn more companies into the sector, but analysts warn that geopolitical tensions and intensifying competition could slow its pace.
EYEING GLOBAL MARKETS
At the heart of the boom are firms like Buzz Pet Food, which began by distributing imported premium pet food in Thailand.
The company shifted into local production a decade ago and started exporting overseas during the COVID-19 pandemic.
“In the last four years, our revenue has grown from just under US$3 million to more than US$25 million,” said its strategy and finance director Possawat Sitthikornprasath.
“This momentum, we believe, is a golden opportunity for us to explore the market beyond Thailand, and the markets that we would initially like to focus on would be Indonesia, the Philippines, Vietnam or India.”
His veterinarian father founded Buzz Pet Food about 30 years ago.
Exports currently account for less than 10 per cent of the firm’s revenue, but it aims to raise that share to about 30 to 40 per cent in the near future.
Other players are also looking outward.
Pawdy Innovation, which has yet to export pet food, is preparing to enter regional markets, said its CEO Pornpan Praphenee. Southeast Asian countries such as Indonesia and the Philippines are top of her list.
“We have a variety of ingredients … we can produce whatever the market wants,” she said.
RISING PET OWNERSHIP
The broader industry’s performance reflects that optimism, said analysts.
Thailand exported US$1.68 billion worth of dog and cat food in the first seven months of 2025, up 10.7 per cent from a year earlier.
In 2024, the country held about 10 per cent of the global pet food export market, behind Germany’s 12.3 per cent.
Analysts attribute Thailand’s rise to its reputation for quality and production standards, as well as global shifts in consumer behaviour.
Rising pet ownership and the “humanisation” of pets – where animals are treated as family members – have driven demand for premium products.
The shift is driven in part by demographic changes, analysts say.
With smaller households, ageing populations and the rising cost of raising children, more consumers are opting for pets.
In Thailand, pet owners now spend up to US$1,600 per pet annually, a 23 per cent increase from the previous year.
For some owners, that spending reflects a deeper lifestyle shift.
“We don’t plan to have kids. We have dogs, so we kind of treat them like family members,” said pet owner Navin Pukphan.
The Thai government sees the pet industry as an increasingly important pillar of the country’s manufacturing and export economy.
But despite its strong outlook, risks are mounting.
“There is still potential and room for growth. It just may not be in a direction where it rises rapidly,” said Wanwisa Sriratana, head of Kasikorn Research Center, the research arm of Thailand’s Kasikornbank.
She highlighted several concerns such as economic uncertainty and rising global competition.
Even so, the domestic market could offer a buffer.
Bangkok alone is home to more than 310,000 pets, and demand continues to rise as more people choose pets over parenthood.
Experts believe Thailand’s ability to sustain its momentum will depend on how it navigates an increasingly competitive and uncertain global landscape.