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Asia Pacific Vegan Pet Food Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Pet Type, and Distribution Channel

Asia Pacific Vegan Pet Food Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Pet Type, and Distribution Channel

  • July 2021
  • 101 pages
  • ID: 6134608
  • Format: PDF
  • The Insight Partners

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The vegan pet food market in Asia Pacific is projected to reach US$ 1,781.11 million by 2028 from US$ 997.22 million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028. Fortification helps in making pet food more sustainable; it helps improve immunity and mental wellbeing among pets. It is anticipated to cater to specifications of pet needs such as the animal’s breed, life stage, pet size and weight, activity levels, and particular health conditions of pets. For pet owners, pet food is categorized as an essential product, which makes its quality a prime concern among them. The role of vegan pet food fortification in preventive health helps lower the costs incurred by unplanned visits to vets. Moreover, the demand for products that are natural and free of synthetic ingredients as well as preservatives is high among pet owners. With the increasing trend of veganism among people, the demand for vegan pet food has also grown significantly. Aistra, an e-commerce platform selling vegan products, offers vegan pet food products that are fortified with essential vitamins and minerals. Hence, the trend of fortifying vegan pet food with the nutrients that are not available in a plant-based diet is catalyzing the growth of the vegan pet food market.
The COVID-19 pandemic has been foreseen to cause a significant economic loss in Asia Pacific.Governments of various Asia Pacific countries imposed lockdowns in early 2020 to restrict the spread of the virus, which, in turn, hampered the production of vegan pet food in the region.

The governments have asked the animal feed manufacturers to delay their production, which has adversely affected the worldwide supply of pet food, including vegan pet food.However, governments of different countries in Asia Pacific have begun arranging vaccination drives to provide a certain level of protection to people from the COVID-19.

Companies have realigned their operations, restructured their production facilities, and procured raw materials in advance to avoid an imbalance between supply and demand. Also, e-commerce network is playing a major role in food and pet food product distribution during the pandemic, and people mostly prefer buying products online.
The Asia Pacific vegan pet food market has been segmented on the bases of product type, pet type, and distribution channel.Based on pet type, is segmented into dogs and cats.

The dogs segment accounted for the highest share in 2020 and is expected to be the fastest growing during forecast period.Dogs are the most popular and beloved pets among the pet owners, worldwide.

According to the National Pet Owners Survey of 2019-2020, Dogs can be fed with vegan diet as vegan food is clean, light, and highly nutritious.Vegan food helps in managing the weight of dogs and improve their energy levels.

Moreover, it is easily digestible which improves the gut health of dogs and helps in overcoming the problems of constipation and loose stools. Dogs have specific requirements of proteins, carbohydrates, fats, vitamins, amino acids, and minerals such as calcium, potassium, and others. Vegan pet foods are fortified with these nutrients to fulfil the nutritional requirements of dogs.
The Asia Pacific vegan pet food market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Asia Pacific vegan pet food market with respect to all the market segments.Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic.

The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Asia Pacific vegan pet food market. Antos B.V.; Bond Pet Foods; Inc.; V-dog; Soopa Pets; Wild Earth; Yarrah; and Halo Pets are among the leading companies in the market.

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