10% growth projected for pet market

10% growth projected for pet market

Ageing society's rise bodes well for sales

Pet lovers and their furry friends gather at a press conference for PET Expo Thailand 2018.
Pet lovers and their furry friends gather at a press conference for PET Expo Thailand 2018.

NCC Exhibition Organiser Co (NEO) forecasts the pet market to see 10% growth this year, with 88 million baht projected to be spent at Pet Expo Thailand 2018.

Group project manager Daranee Thongprachum said Thailand's pet market continues to grow at an annual clip of 10%, driven by young people preferring to stay single or marry without having kids. That trend has led the country to become an ageing society, with people keeping pets for companions.

As more Thais become pet lovers, NEO will hold the 18th edition of Pet Expo Thailand this year, highlighting many types of pets and special activities for pet lovers.

"We project 88 million baht in spending during the event this year," Ms Daranee said.

She said the overall pet business this year is valued at 32 billion baht, while dog and cat entertainment such as pools, spas, playgrounds and cafes is rising in the market.

"I believe the pet entertainment business will grow by 10-15% from last year because people are willing to spend more on their pets, especially dogs," Ms Daranee said.

The pet business in Thailand last year was worth 26.3 billion baht, according to research conducted by NEO and Thonglor Pet Hospital.

Of the total, the pet food business accounted for the largest share at 45% or 10.3 billion baht. Animal health care services such as pet hospitals, clinics, spas, grooming, training schools, hotels and other services accounted for 32% or 9.3 billion baht. Related products such as clothes, accessories and toys represented 23% or 6.7 billion baht.

The company, meanwhile, plans to scale up the pet event, eyeing Pet Expo Asia in 2020, targeted to be the biggest related trade show in Southeast Asia, Ms Daranee said.

Last year, more than 100,000 visitors spent over 80 million baht at Pet Expo Thailand. The group expects this year's event to attract at least 110,000 visitors.

More than 200 entrepreneurs and exhibitors will showcase products and services from May 31 to June 3 at Queen Sirikit National Convention Center.

Do you like the content of this article?