In-depth analysis: 2024 China-Thailand pet industry cooperation and market insights

Thailand market trends and opportunities

1. Market size growth
   • The market size was US$700 million in 2016 and reached US$1.86 billion in 2023, with a compound annual growth rate of 15%.
   • In 2023, cat wet food increased to 18% (only 3% in 2016), reflecting the strong trend of the cat economy.
2. Consumption behavior characteristics
   • Women are the main consumers and tend to buy small packages and high-quality products at a high frequency.
   • The market prefers healthy, personalized and convenient products, such as pet food, cat litter, smart products, etc.
3. Retail status and challenges
   • 80% of the 4,000+ pet supply stores are small traditional stores; modern retail is concentrated in core cities such as Bangkok.
   • Product supply is oversupplied and new pet users are limited, so differentiated competition is the key.

Enlightenment of China’s pet industry development

1. Development history
   • From the start of the modern pet industry in 1991 to the mature stage in 2024. During this period, the “cat economy” rose, new national trend brands emerged, and channels were diversified.
2. Industry highlights
   • Smart hardware and wet food subcategories are rising; chain enterprises are expanding their influence through content e-commerce, community stores and other means.
     Successful experience of innovative models.

Successful experience of innovative models

1. High-end retail brands go global
   • Landowan and FUR opened flagship stores in Singapore, entering the high-end market with high-end SPA care and membership services.
   • Dogway focuses on high-quality shopping malls, combining differentiated SKUs and exquisite services to meet the needs of emerging pet owners.
2. Immersive experience innovation
   • Mars Pets focuses on young users, improves floor efficiency through scenario-based retail, member-exclusive experience and carefully selected products, and forms an omni-channel business closed loop.
     

Highlights of Sino-Thai cooperation

1. Resource complementarity: Thailand is the world’s major producer of pet wet food, and Chinese brands have advanced marketing and retail experience.
2. Cooperation model: Through forums, exhibitions and field visits, Chinese and Thai companies explore the combination of localized operations and international expansion.
3. Future direction: Deepen cooperation in pet care, exotic pet market and smart products to enhance the market competitiveness of both parties.

CiaraVenture insights

By deeply participating in the regional market, Chinese companies have the opportunity to optimize their own layout by leveraging Thailand’s mature pet industry supply chain and consumption trends. In the future, grasping innovative services, digital transformation and ecological cooperation models will be the key to success.

Cite：宠物家消息/Pet Variety2024