Malaysia Pet Food Market Size, Growth, Trends and Global Segments Analysis Report

Shibuya-ku, Tokyo, Japan, Japan, Feb 10, 2022, 04:05 /Comserve / -- Malaysia Pet Food Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

Malaysian Pet Food market is projected to register a CAGR of 6.2% during the forecast period (2021-2026).

The Covid-19 pandemic has caused a major impact on pet food market in Malaysia.In 2020 during March and April, there was a huge supply and demand gap due to panic buying of pet food among pet parents. The pet food industries are unable to meet the demand due to disruptions in supply chain and poor logistic services. Due lockdown restrictions, consumers preferred to buy through e-commerce medium, which resulted in the increased internet sales.

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The increase in pet humanization trend has made Malaysian pet owners be more cautious in ensuring their pets receive the best pet nutrition. Innovation has played a major role in providing premium cat food for the aging Malaysian cat population which helps to extend their lifespan.

With Malaysian residences turning towards high rise properties with small living spaces, raising a pet is becoming more difficult. This, in turn, has hindered the pet ownership, thereby restraining the market growth.

Key Market Trends

Rise in Pet Humanization

Pet humanization has been a crucial trend for the Malaysian pet food market. The proportion of pet owners is changing from mostly baby boomers to millennials, causing a shift in attitude toward pet ownership and the adoption of western culture. Safety and nutritional needs of pets are a major concern for consumers, who are well aware of the labeling and the ingredients used in the food products. These considerations come at a higher cost. However, due to a rise in the middle-class population in the country and a higher amount of disposable income, people are willing to spend more on their pets than before, especially, for food of higher quality food for their pets. Moreover, this trend correlates with the growth of certain pet food segments, including healthy treats, specialty pet foods, and other premium options.

Increase in E- Commerce Sales

The vast internet connectivity prevailing in the nation has boosted the use on e-commerce sites as an effective distribution channel. ​ Online sales of pet food is occupying a market share of 24.7% in 2020 and is projected to increase in forecast period due to the convenience and wide-range of products.​The notions of convenience, affluence, or exclusivity and market awareness play a critical role in the pet food market of Malaysia.

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The rapid urbanization and connectivity programs envisaged by the government like Paws Animal Welfare Society, Penang Animal Sanctuary Society, Penang Animal Welfare Society, SPCA Penang, and SPCA Selangor are fuelling the market growth.​ The unreliability of local goods has forced the consumers to rely on imported goods. These goods are made available via e-commerce space and is further increasing pet food sales.

Competitive Landscape

The Malaysia pet food market is fragmented with major palyers such as Nestle Purina Petcare Company, Colgate Palmolive, Ban Leong Shell Products Sdn Bhd, and Royal Canin Malaysia Sdn. Bhd and local players having their operations in the country. These players are using innovation as their key marketing strategy and are coming up with custom-tailored pet food products that cater to the needs of the pet owners in the country.

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study & Market Definition

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

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