NEW YORK, Jan. 7, 2016 /PRNewswire/ -- The APAC region is an important and high potential market; the sharp contrast between the near saturation markets of Europe and American region with the just opened markets of Asia is a visible indicator of the acuteness of future predictions. In 2014, the market was numbered at $9,931.5 million and is predicted to grow at an impressive CAGR of 5.1% to grow into a $13,363 million market by 2020.
The region is endowed with a diverse set of markets defined by various characterizations. The Australian and Japanese markets are characterized with a well aware and quality conscious consumer base; their point of difference is in their buying pattern and social culture. The Australian market is mainly driven by the high divorce rate and increasing single population. The Japanese market is driven by its large elderly population that prefers the company of a pet. This commonality of 'companionship', albeit on a different social metric, makes them very good markets for high quality and premium foods.
The Indian, Chinese, and Indonesian markets are the rapidly emerging markets in the region. The notions of convenience, affluence or exclusivity, safety, and market awareness play a very crucial role. These rapid urbanization and connectivity programs envisaged by these economies are going to boost the market further. Owning a pet, focusing and spending on its care is seen as a mark of social status and sensitivity here, making it an important market driver. The unreliability of local goods, as indicated by the recent scandals, is also forcing them to rely on foreign goods. The market campaign is often centered on the shift towards commercials foods from left-overs.
The high flung economies of Taiwan, Malaysia, and South Korea make them an ideal target for pet foods. The high education levels and modern infrastructure facilities enjoyed by these nations is also accompanied by a strong sense of culture and locality. The affluent status and companionship offered by owning a pet is an important driver for the industry. The high internet connectivity enjoyed by these nations is boosting the use on e-commerce sites as an effective distribution channel. Due to their strong cultural ties, the taboos and age old practices associated with domestic animals presents both challenges and opportunities here. The Islamic taboo over dogs and the dog meat festivals of South Korea are a few examples of this fact.
The markets of Vietnam, Thailand and other minor markets represent the most recent markets to enter the global market place. Their late embrace of the market connectivity is a cause of infrastructure lag and almost negligible product awareness. They offer the nascent market advantages of low regulations and competition. The other problems associated with these markets are of political uncertainty, as indicated by the certain military junta takeover of Thailand.
The market is segmented based on the product type, animal type, pricing and sales channels. In most nations the dog and cat foods occupy the most prominent position, with an estimated rise in the fish and other exotic animal populations. As a direct consequence of these stats the wet and dry segments occupy the leading position, with visibly growing numbers form organics.
The region is characterized with a monetarily strong middle class, making the economic pricing segment an important revenue generator. Super markets and groceries are the leading outlets for pet food but the trend is expected to shift to specialist stores in the future. The high penetration enjoyed by e-commerce sites in urban regions, is also facilitating the rise of online medium as an effective distribution channel. The major players of the regions are Mars Petcare, Nestle Purina, Hills Pet Nutrition, Unicharm Corporation, V.I.P. Petfoods, Nippon pet food, Nisshin Seifun Group, and Pet line.
In this report we offer,
Market Definition for the specified topic along with identification of key drivers and restraints for the market.
Market analysis for the Asia-pacific Pet Food Market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
Identification and analysis of the Macro and Micro factors that affect the Asia-pacific Pet Food Market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Why should you buy this report?
For getting a comprehensive overview of the Asia-pacific Pet Food Market
To gain wide-ranging information about the major players in this industry and the strategies adopted by them.
To gain an insight about the major countries/regions in which this industry is blooming and also identify the regions, which are untapped.
Read the full report: http://www.reportlinker.com/p03431549-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001