‘Pet humanisation’ trend playing a big role in expanding Thailand’s pet market

Dr Kritika Chaisupattanakul, CEO of Thonglor Pet Hospital, noted that Thailand’s pet market typically grows by an average of 10% per year. However, during the Covid-19 pandemic, growth surged to 12-13% per year, reaching 16% in 2022. Afterwards, growth began to normalise, returning to 10% in 2023. Growth is projected at around 7-9% in 2024.

This year, the number of pets in Thailand would number around 20 million, including 12 million dogs and 8 million cats. There are approximately 3,500 pet hospitals in the country, with 80% being small hospitals, 15% medium, and 5% large hospitals.

Thonglor Pet Hospital plans to expand its business through portfolio management, encompassing both pet hospitals and pet well-being services in collaboration with various partners, including other pet hospitals and different business sectors.The goal is to excel in pet healthcare, enhance pet quality of life, and elevate the veterinary profession to make Thailand a hub for Southeast Asia in the future.

Dr Thassawarin Kanchanachaya, the CEO of Arak Animal Healthcare Co Ltd and co-founder of Arak Animal Hospital, noted that the growth of the pet hospital market had led to increased competition. In 2023, 600 to 700 new animal hospitals and clinics were opened across the country, showcasing the market’s potential and growth opportunities.

As a result, the company plans to continue expanding its business. The company plans to open two more branches in Bangkok next year.

“Despite the overall economic challenges, Thailand’s pet market continues to grow due to changing consumer behaviour,” Dr Thassawarin added.

Pornchai Tatiyachaitaveesuk, chief commercial officer of i-Tail Corporation Pcl, said that the pet food market grew by around 30% in the first half of the year, driven by the pet humanisation trend, which gained popularity during the Covid-19 pandemic and continues to expand.

“Currently, we are focusing primarily on exports, accounting for 98% of sales across more than 10 countries. Our three main markets are the United States, Germany, and Japan. The US is our largest market, representing 50% of total exports, as American consumers are willing to spend on pets, even in tough economic times,” Pornchai said.

The company has recently expanded exports to Bahrain and plans to target Muslim markets and supermarkets in the UK, the Netherlands, Italy, Spain, and Canada, aiming for 15% growth this year.