Thailand Animal Feed Market is projected to grow at a CAGR of 5.8% during 2024-2030

On the basis of form, pellets have attained the largest revenue share in the Thailand Animal Feed Market – 6Wresearch

In 2023, Pellets animal feed holds the highest revenue share due to its superior feed conversion efficiency, reduced wastage, and strong market adoption. Pellets are easier to handle, transport, and store than mash or crumbles due to their dense, uniform shape, which allows for efficient storage. Additionally, they have a longer shelf life and greater stability. The pelleting process kills pathogens and reduces moisture, preventing mould growth and extending usability.

According to 6Wresearch, Thailand Animal Feed Market is projected to grow at a CAGR of 5.8% during 2024-2030. The increasing pet adoption in Thailand is significantly driving the animal feed market, with the nation’s pet industry being the second largest in Asia, behind China. Dogs are the most popular pets, followed by cats, and 49% of Thais prefer adopting a pet over having a child.

Thailand’s pet ownership regulations are relatively lax, with no mandatory spaying, neutering, or dog licensing, though there are laws against animal cruelty with fines and prison sentences for offenders. Buying pets is easy but supporting responsible breeders or adopting from shelters is recommended to avoid puppy mills. The evolving pet culture in Thailand, where pets are seen as children, drives demand for high-quality pet food. Millennials and baby boomers spend significantly on pet food, grooming, and medical care. The pandemic saw increased pet adoption, further boosting the market.

The pet market, valued at about US$107 billion in 2019, includes pet food (45%), veterinary care (32%), and other products like clothes and accessories. The rise in pet adoption, humanization of pets, health trends, pet care services expansion, and supportive marketing strategies create a dynamic market environment, offering numerous opportunities for manufacturers to cater to the evolving needs of pet owners and ensuring sustained growth in Thailand's animal feed market.

According to Shubham Deep, Senior Research Associate, 6Wresearch, poultry by species is anticipated to lead the animal feed market, mainly due to the high demand for poultry meat, particularly chicken. Furthermore, the well-established poultry industry, bolstered by stringent quality standards and efficient practices, supports this dominance.

Thailand Animal Feed Market (2024-2030) report provides an in-depth analysis with 24 figures and 6 tables, covered in 74 pages. The report comprehensively covers the market by form, species, type and region. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.