Pet Care in Vietnam

Euromonitor International
May 2023
PET CARE IN VIETNAM Passport i

LIST OF CONTENTS AND TABLES

Pet Care in Vietnam - Industry Overview...................................................................................... 1
EXECUTIVE SUMMARY .............................................................................................................. 1
Pet care in 2023: The big picture .............................................................................................. 1
2023 key trends ........................................................................................................................ 1
Competitive landscape ............................................................................................................. 2
Retailing developments ............................................................................................................ 2
What next for pet care? ............................................................................................................ 2
MARKET INDICATORS ............................................................................................................... 3
Table 1 Pet Populations 2018-2023 .......................................................................... 3
MARKET DATA ............................................................................................................................ 3
Table 2 Sales of Pet Food by Category: Volume 2018-2023 .................................... 3
Table 3 Sales of Pet Care by Category: Value 2018-2023 ........................................ 3
Table 4 Sales of Pet Food by Category: % Volume Growth 2018-2023 .................... 4
Table 5 Sales of Pet Care by Category: % Value Growth 2018-2023 ....................... 4
Table 6 NBO Company Shares of Pet Food: % Value 2018-2022 ............................ 4
Table 7 LBN Brand Shares of Pet Food: % Value 2019-2022................................... 5
Table 8 NBO Company Shares of Dog and Cat Food: % Value 2018-2022 ............. 6
Table 9 LBN Brand Shares of Dog and Cat Food: % Value 2019-2022 .................... 6
Table 10 Distribution of Pet Care by Format: % Value 2018-2023 .............................. 7
Table 11 Distribution of Pet Care by Format and Category: % Value 2023 ................ 7
Table 12 Distribution of Dog and Cat Food by Format: % Value 2018-2023 ............... 8
Table 13 Distribution of Dog and Cat Food by Format and Category: % Value
2023 ............................................................................................................. 9
Table 14 Forecast Sales of Pet Food by Category: Volume 2023-2028 ..................... 9
Table 15 Forecast Sales of Pet Care by Category: Value 2023-2028 ....................... 10
Table 16 Forecast Sales of Pet Food by Category: % Volume Growth 2023-
2028 ........................................................................................................... 10
Table 17 Forecast Sales of Pet Care by Category: % Value Growth 2023-2028 ...... 10
DISCLAIMER ............................................................................................................................. 11
SOURCES.................................................................................................................................. 11
Summary 1 Research Sources ...................................................................................... 11
Cat Food in Vietnam - Category Analysis ................................................................................... 13
KEY DATA FINDINGS................................................................................................................ 13
2023 DEVELOPMENTS ............................................................................................................. 13
Rising prices having little impact on demand for cat food ....................................................... 13
Mid-priced outperforms premium amidst inflation ................................................................... 13
Dry cat food dominates but wet cat food benefiting from increasing awareness of its benefits14
PROSPECTS AND OPPORTUNITIES....................................................................................... 14
Sales set to continue rising as the pet cat population continues to grow ................................ 14
All options set to see dynamic growth but mid-priced dry cat food likely to maintain dominance15
Economic recovery could help cat food to grow and expand .................................................. 15
CATEGORY INDICATORS ........................................................................................................ 15
Table 18 Cat Owning Households: % Analysis 2018-2023 ....................................... 15
Table 19 Cat Population 2018-2023.......................................................................... 16

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Table 20 Consumption of Cat Food by Prepared vs Non-prepared: % Analysis

2018-2023 .................................................................................................. 16
CATEGORY DATA ..................................................................................................................... 16
Summary 2 Cat Food by Price Band 2023 .................................................................... 16
Table 21 Sales of Cat Food by Category: Volume 2018-2023 .................................. 16
Table 22 Sales of Cat Food by Category: Value 2018-2023 ..................................... 17
Table 23 Sales of Cat Food by Category: % Volume Growth 2018-2023 ................. 17
Table 24 Sales of Cat Food by Category: % Value Growth 2018-2023 .................... 17
Table 25 Sales of Dry Cat Food by Life-Cycle: % Value 2018-2023 ......................... 18
Table 26 Sales of Wet Cat Food by Life-Cycle: % Value 2018-2023 ........................ 18
Table 27 NBO Company Shares of Cat Food: % Value 2018-2022 .......................... 18
Table 28 LBN Brand Shares of Cat Food: % Value 2019-2022 ................................ 19
Table 29 LBN Brand Shares of Cat Treats and Mixers: % Value 2019-2022 ............ 19
Table 30 Distribution of Cat Food by Format: % Value 2018-2023 ........................... 19
Table 31 Forecast Sales of Cat Food by Category: Volume 2023-2028 ................... 20
Table 32 Forecast Sales of Cat Food by Category: Value 2023-2028 ...................... 20
Table 33 Forecast Sales of Cat Food by Category: % Volume Growth 2023-
2028 ........................................................................................................... 21
Table 34 Forecast Sales of Cat Food by Category: % Value Growth 2023-2028...... 21
Dog Food in Vietnam - Category Analysis .................................................................................. 23
KEY DATA FINDINGS................................................................................................................ 23
2023 DEVELOPMENTS ............................................................................................................. 23
Owners looking to improve the life of their companions through dog treats and wet dog food 23
Royal Canin continues to dominate the premium segment but faces mounting competition .. 23
Mid-priced products remain the most popular option in dog food ........................................... 24
PROSPECTS AND OPPORTUNITIES....................................................................................... 24
Huge growth potential remains in dog food ............................................................................ 24
International brands are expected to dominate while local players could look for opportunities
in niche areas ......................................................................................................................... 25
Mid-priced segment will remain the dominant force in dog food ............................................. 25
CATEGORY INDICATORS ........................................................................................................ 25
Table 35 Dog Owning Households: % Analysis 2018-2023 ...................................... 25
Table 36 Dog Population 2018-2023......................................................................... 26
Table 37 Consumption of Dog Food by Prepared vs Non-prepared: % Analysis
2018-2023 .................................................................................................. 26
CATEGORY DATA ..................................................................................................................... 26
Summary 3 Dog Food by Price Band 2023 ................................................................... 26
Table 38 Sales of Dog Food by Category: Volume 2018-2023 ................................. 26
Table 39 Sales of Dog Food by Category: Value 2018-2023 .................................... 27
Table 40 Sales of Dog Food by Category: % Volume Growth 2018-2023 ................ 27
Table 41 Sales of Dog Food by Category: % Value Growth 2018-2023 ................... 27
Table 42 Sales of Dry Dog Food by Life-Cycle: % Value 2018-2023 ........................ 28
Table 43 Sales of Wet Dog Food by Life-Cycle: % Value 2018-2023 ....................... 28
Table 44 NBO Company Shares of Dog Food: % Value 2018-2022 ......................... 28
Table 45 LBN Brand Shares of Dog Food: % Value 2019-2022 ............................... 29
Table 46 LBN Brand Shares of Dog Treats and Mixers: % Value 2019-2022 ........... 29
Table 47 Distribution of Dog Food by Format: % Value 2018-2023 .......................... 29
Table 48 Forecast Sales of Dog Food by Category: Volume 2023-2028 .................. 30

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Table 49 Forecast Sales of Dog Food by Category: Value 2023-2028 ..................... 31

Table 50 Forecast Sales of Dog Food by Category: % Volume Growth 2023-
2028 ........................................................................................................... 31
Table 51 Forecast Sales of Dog Food by Category: % Value Growth 2023-2028..... 31
Other Pet Food in Vietnam - Category Analysis ......................................................................... 33
KEY DATA FINDINGS................................................................................................................ 33
2023 DEVELOPMENTS ............................................................................................................. 33
Other pet food sees moderate growth as consumers are forced to economise ...................... 33
Prices rise as manufacturers face rising costs ........................................................................ 33
Distribution of other pet food remains focused on specialist pet shops .................................. 34
PROSPECTS AND OPPORTUNITIES....................................................................................... 34
Economy Recover is Expected to Drive Category Growth in terms of Product Development as
well as Consumer Spending Power ........................................................................................ 34
Small base of Existing Pet Owner and Distribution could be an opportunity for growth .......... 35
Competitive landscape likely to remain relatively stable despite constant influx of new
products .................................................................................................................................. 35
CATEGORY INDICATORS ........................................................................................................ 35
Table 52 Other Pet Population 2018-2023 ................................................................ 35
CATEGORY DATA ..................................................................................................................... 36
Table 53 Sales of Other Pet Food by Category: Volume 2018-2023 ........................ 36
Table 54 Sales of Other Pet Food by Category: Value 2018-2023 ........................... 36
Table 55 Sales of Other Pet Food by Category: % Volume Growth 2018-2023 ........ 36
Table 56 Sales of Other Pet Food by Category: % Value Growth 2018-2023 ........... 36
Table 57 LBN Brand Shares of Bird Food: % Value 2019-2022................................ 37
Table 58 LBN Brand Shares of Fish Food: % Value 2019-2022 ............................... 37
Table 59 Distribution of Other Pet Food by Format: % Value 2018-2023 ................. 37
Table 60 Forecast Sales of Other Pet Food by Category: Volume 2023-2028 ......... 38
Table 61 Forecast Sales of Other Pet Food by Category: Value 2023-2028 ............ 38
Table 62 Forecast Sales of Other Pet Food by Category: % Volume Growth
2023-2028 .................................................................................................. 38
Table 63 Forecast Sales of Other Pet Food by Category: % Value Growth
2023-2028 .................................................................................................. 39
Pet Products in Vietnam - Category Analysis ............................................................................. 40
KEY DATA FINDINGS................................................................................................................ 40
2023 DEVELOPMENTS ............................................................................................................. 40
Pet products seeing stronger growth despite economic pressures ......................................... 40
Pet healthcare seeing dynamic growth as product awareness grows..................................... 40
Competitive landscape remains fragmented due to the wide selection of pet products on offer
and the limited brand loyalty ................................................................................................... 41
PROSPECTS AND OPPORTUNITIES....................................................................................... 41
Economic recovery should fuel stronger growth with the category also set to benefit from the
entry of more products ............................................................................................................ 41
Distribution expansion seen as A key strategy for winning share ........................................... 42
Rising pet population alongside pet humanisation likely to be A key growth catalyst ............. 42
CATEGORY DATA ..................................................................................................................... 43
Table 64 Sales of Pet Products by Category: Value 2018-2023 ............................... 43
Table 65 Sales of Pet Products by Category: % Value Growth 2018-2023............... 43
Table 66 Sales of Pet Healthcare by Type: % Value 2018-2023............................... 43

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Table 67 Sales of Other Pet Products by Type: % Value 2018-2023 ........................ 43

Table 68 NBO Company Shares of Pet Products: % Value 2018-2022 .................... 44
Table 69 LBN Brand Shares of Pet Products: % Value 2019-2022........................... 44
Table 70 Distribution of Pet Products by Format: % Value 2018-2023 ..................... 44
Table 71 Forecast Sales of Pet Products by Category: Value 2023-2028 ................ 45
Table 72 Forecast Sales of Pet Products by Category: % Value Growth 2023-
2028 ........................................................................................................... 45

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PET CARE IN VIETNAM - INDUSTRY

OVERVIEW
EXECUTIVE SUMMARY

Pet care in 2023: The big picture

While the COVID-19 pandemic is no longer a serious concern the slowdown seen in the local
economy is a key issue in 2023. With average income decreasing, unemployment rising and
with elevated inflation this is having a detrimental impact on disposable income. Nonetheless,
despite these numerous challenges pet care continues to see double-digit growth in current
value and retail volume terms in 2023.
Vietnam’s younger generation who are pet owners are the key target audience for pet care
manufacturers and retailers. This is partly due to the attitudes of this generation towards pets,
with many younger consumers seeing their pets as companions and family members and so are
willing to spend more on them. In view of this, players are adjusting their marketing, distribution
and pricing in order to appeal to this audience.
The mid-priced segment continues to play a crucial role in pet care in 2023. This is because
many customers have a limited budget for pet care, but the product quality in this segment is still
seen as acceptable by most pet owners. Additionally, this price segment also offers the widest
selection of products and brands, including popular options such as Me-O and Whiskas in cat
food and CP Classic and Pedigree in dog food.
Pet food remains the key driver of growth, supported by the ongoing shift from non-prepared
to prepared dog and cat food. Responding to this growing demand pet food players continue to
reinforce their distribution networks and are expanding their product portfolios. However,
disposable income in Vietnam has been negatively impacted by the pandemic and as such this
is limiting stronger growth in pet food.
Dog and cat food remains the dominant category in pet care. Producers of pet care are
largely focusing their investments on dog and cat food rather than investing in new and smaller
categories. Nonetheless, it is worth noting that despite dynamic growth in the category, non-
prepared food still accounts for 98% of dog and cat food in Vietnam.

2023 key trends

New types of pet food continue to be introduced to the market, such as raw pet food or frozen
pet food, with many owners keen to find the food which is best for their pet’s health and
wellbeing. Nonetheless, pet care in Vietnam is still in the early stages of development, with most
owners still feeding their pets non-prepared food. Therefore, market investment is still largely
focused around raising awareness about the benefits of prepared pet food.
The retail price of pet care is increasing due to elevated inflation levels, which is also
impacting the cost of living in general in Vietnam. This is leaving less disposable income to
spend on pet care. However, despite this, demand has remained relatively stable.
E-commerce has become an increasingly important channel within pet care since the start of
the pandemic, with the channel continuing to pick up share in 2023 despite COVID-19
restrictions no longer being in place. E-commerce has seen strong gains across retailing in
general in Vietnam, but with pet owners mostly being young and tech-savvy pet care is an area
in which it has seen particularly strong growth.

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The internet has not just helped to drive sales of pet care products, but it has also helped to
encourage more consumers to become pet owners. Social media platforms such as YouTube
and Instagram have thousands of videos and photos of cats, dogs and other pets, all of which
has helped influence people into getting a pet. In line with this, the dog and cat population
continued to grow rapidly in 2022 with this pattern continuing into 2023. These new pet owners
are often more likely to invest in pet care than older pet owners.

Competitive landscape
Dog and cat food manufacturers remain the key players in pet care in Vietnam, with dogs and
cats being among the most popular pets in Vietnam. Perfect Companion (Vietnam) Co Ltd, Mars
Inc and Archer Daniels Midland VN Co Ltd dominate the market. These three players have well-
established professional distribution networks and offer a wide range of popular and well-known
brands and products. Outside of these top three players pet care remains highly fragmented,
with a large number of players spread across the various different categories such as pet
products and pet treats and mixers.
International brands appear across the different pet care categories and benefit from higher
brand awareness thanks to investment in marketing activities and promotions, as well as
recommendations from veterinarians. The larger players and their brands also continue to
benefit from their constantly expanding product ranges in pet food. For example, Perfect
Companion (Vietnam) Co Ltd expanded its range Me-O cat food to include wet cat food towards
the end of the review period. Perfect Companion (Vietnam) Co Ltd also expanded its portfolio of
pet food products to include bird food and fish food.

Retailing developments
Independent pet shops continue to dominate the distribution of pet care products in Vietnam,
which is largely down to the fact these stores carry a much broader product range than
supermarkets or hypermarkets. Nonetheless, retail e-commerce has continued to see dynamic
growth in 2023 with many consumers having come to appreciate the convenience of shopping
online, especially for heavy, bulky items, such as large sacks of dog food. E-commerce also
offers a wide product range, comprehensive information and the ability to search for the lowest
prices online. Nevertheless, delivery costs and concerns over product quality remain obstacles
to the growth of e-commerce in the country. E-commerce is also only common amongst
consumers in big cities such as Hanoi, Ho Chi Minh City and Danang.
Pet shops and pet superstores account for almost three quarters of value sales and largely
rely on the strong demand for products for cats and dogs. Many of these outlets are traditional
local shops which are accessible to consumers and which have the widest product range of all
store-based retailers. Indeed, some products, such as other pet food, are only really available
via small independent pet shops. Consumers can also often get the advice they need in pet
shops, in terms of both what food to purchase and pet care advice. Modern grocery retailers is
the second-largest channel for sales of pet care products, with consumers valuing the
convenience of being able to purchase such products along with their groceries. Additionally,
some grocery retailers have started to offer their own private label pet food, such as AEON
Topvalu.

What next for pet care?

The growth of pet care is projected to accelerate from 2024 onwards driven in large part by
the expanding pet population and the growing shift to prepared pet food. All categories are
forecast to see growth, with dog and cat food set to perform particularly well and remaining key
to the overall development of pet care in the country. With demand for pet care growing at a

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dynamic rate more players are likely to be attracted to invest in the market, which should also
help fuel growth.
The World Health Organisation declared in May 2023 the COVID-19 health emergency was
over. As a result, Vietnam’s economy is expected to gradually recover, which should lead to
consumers spending more on their pets. In addition, although many older consumers still regard
animals as inherently unclean and untameable, and therefore unsuitable for human
companionship, the desire to keep dogs and cats as pets will likely increase amongst younger
generations.
Additionally, in line with the global pet humanisation trend, pets will likely also increasingly be
considered as friends and members of the household. This will not only contribute to continued
growth in the pet population, but it will likely also lead to the increasing use of packaged
prepared pet food instead of feeding pets scraps. Furthermore, some owners will likely be willing
to upgrade to premium products to improve their pet’s health and happiness, with a growing
number of owners already feeding their dogs and cats mid-priced pet food. Meanwhile, more pet
owners will likely also start purchasing non-essential products such as treats and pet products to
improve the happiness and wellbeing of their pets.

MARKET INDICATORS
Table 1 Pet Populations 2018-2023

'000s of animals
2018 2019 2020 2021 2022 2023

Bird Population 1,668.0 1,709.7 1,745.6 1,772.0 1,795.0 1,816.6

Cat Population 4,106.1 4,373.0 4,670.3 4,950.5 5,198.1 5,432.0
Dog Population 5,241.0 5,485.0 5,751.0 5,976.4 6,181.1 6,380.9
Fish Population 12,207.0 13,000.4 13,910.4 14,745.1 15,556.0 16,380.5
Reptile Population - - - - - -
Small Mammal Population - - - - - -
Pet Population 23,222.0 24,568.1 26,077.4 27,444.1 28,730.3 30,010.0
Source: Euromonitor International from official statistics

MARKET DATA
Table 2 Sales of Pet Food by Category: Volume 2018-2023

Tonnes
2018 2019 2020 2021 2022 2023

Other Pet Food 826.2 867.5 854.8 871.5 895.6 925.0

Dog and Cat Food 8,643.2 10,366.1 11,590.2 12,853.6 14,412.3 16,288.1
Pet Food 9,469.4 11,233.5 12,445.0 13,725.0 15,307.9 17,213.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 3 Sales of Pet Care by Category: Value 2018-2023

VND billion

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2018 2019 2020 2021 2022 2023

Other Pet Products 190.8 209.4 227.8 249.1 275.0 305.2

Pet Healthcare 39.1 43.5 47.4 53.6 61.6 70.2
Cat Litter 5.8 6.5 7.2 7.9 8.7 9.6
Pet Products 235.7 259.4 282.4 310.5 345.3 385.1
Other Pet Food 71.4 78.3 81.1 85.6 92.5 100.9
Dog and Cat Food 833.6 1,025.4 1,170.2 1,332.6 1,555.3 1,827.7
Pet Food 905.1 1,103.7 1,251.3 1,418.2 1,647.8 1,928.6
Pet Care 1,140.8 1,363.1 1,533.7 1,728.8 1,993.1 2,313.7
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 Sales of Pet Food by Category: % Volume Growth 2018-2023

% volume growth
2022/23 2018-23 CAGR 2018/23 Total

Other Pet Food 3.3 2.3 12.0

Dog and Cat Food 13.0 13.5 88.4
Pet Food 12.4 12.7 81.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Sales of Pet Care by Category: % Value Growth 2018-2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

Other Pet Products 11.0 9.9 60.0

Pet Healthcare 14.0 12.4 79.7
Cat Litter 11.0 10.5 64.7
Pet Products 11.5 10.3 63.4
Other Pet Food 9.1 7.2 41.3
Dog and Cat Food 17.5 17.0 119.2
Pet Food 17.0 16.3 113.1
Pet Care 16.1 15.2 102.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 6 NBO Company Shares of Pet Food: % Value 2018-2022

% retail value rsp

Company 2018 2019 2020 2021 2022

Perfect Companion 39.2 37.6 36.7 35.4 34.1

(Vietnam) Co Ltd
Mars Inc 25.0 22.5 22.5 22.4 22.1
Archer Daniels Midland VN - 14.0 14.9 15.6 16.6
Co Ltd
Daejoo Co Ltd 1.4 1.5 1.6 1.6 1.7
Kodo Inc 1.4 1.4 1.2 1.3 1.7
See-All Aquariums Co Ltd 1.9 1.7 1.6 1.5 1.3
CTCBIO Vietnam Co Ltd 1.2 1.2 1.2 1.2 1.3
Grobest & I-mei 1.4 1.3 1.2 1.1 1.0

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Industrial (Vietnam) Co Ltd

Natural Core Co Ltd 0.9 0.8 0.8 0.8 0.9
Vuong Viet Anh Co Ltd 1.1 1.0 0.8 0.7 0.6
Bowwow Korea Co Ltd - 0.3 0.3 0.4 0.5
Nestlé SA - - - 0.4 0.4
Bavi Co Ltd 0.5 0.5 0.4 0.4 0.3
Tai Kong Corp 0.3 0.2 0.1 0.1 0.1
Neovia Vietnam Co Ltd 12.0 - - - -
Texas Farm Products Co Inc - - - - -
ARC Co Ltd - - - - -
Natural Pet Co Ltd - - - - -
Others 13.8 16.0 16.5 17.1 17.4
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7 LBN Brand Shares of Pet Food: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

CP (Charoen Pokphand Perfect Companion 14.9 14.4 13.7 13.0

Group) (Vietnam) Co Ltd
SmartHeart (Charoen Perfect Companion 12.6 12.0 11.4 10.8
Pokphand Group) (Vietnam) Co Ltd
Me-O (Charoen Perfect Companion 10.1 10.3 10.2 10.3
Pokphand Group) (Vietnam) Co Ltd
Ganador (Archer Archer Daniels Midland VN 7.3 8.4 9.3 10.2
Daniels Midland Co) Co Ltd
Pedigree Mars Inc 8.8 9.1 9.2 9.3
Royal Canin Mars Inc 7.9 7.6 7.5 7.1
Minino (Archer Archer Daniels Midland VN 6.7 6.5 6.3 6.4
Daniels Midland Co) Co Ltd
Whiskas Mars Inc 5.8 5.7 5.7 5.7
Catsrang Daejoo Co Ltd 1.5 1.6 1.6 1.7
ANF (Wooriwa Co Ltd) Kodo Inc 1.4 1.2 1.3 1.7
Sakura See-All Aquariums Co Ltd 1.7 1.6 1.5 1.3
Cat's Eye (CTCBIO Inc) CTCBIO Vietnam Co Ltd 1.2 1.2 1.2 1.3
KaoKui (Grobest Group) Grobest & I-mei 1.3 1.2 1.1 1.0
Industrial (Vietnam) Co Ltd
Natural Core Natural Core Co Ltd 0.8 0.8 0.8 0.9
Vuong Viet Anh Vuong Viet Anh Co Ltd 1.0 0.8 0.7 0.6
Zenith Bowwow Korea Co Ltd 0.3 0.3 0.4 0.5
Pro Plan Nestlé SA - - 0.4 0.4
Ba Vi Bavi Co Ltd 0.5 0.4 0.4 0.3
Azoo Tai Kong Corp 0.2 0.1 0.1 0.1
ARC Food ARC Co Ltd - - - -
ANF Kodo Inc - - - -
Natural Core Natural Pet Co Ltd - - - -
Blisk (InVivo Group) Neovia Vietnam Co Ltd - - - -
Blisk (Neovia) Neovia Vietnam Co Ltd - - - -
Ganador (InVivo Group) Neovia Vietnam Co Ltd - - - -
Ganador (Neovia) Neovia Vietnam Co Ltd - - - -
Minino (Neovia) Neovia Vietnam Co Ltd - - - -
ANF Texas Farm Products Co Inc - - - -
Others Others 16.0 16.5 17.1 17.4
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

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Table 8 NBO Company Shares of Dog and Cat Food: % Value 2018-2022

% retail value rsp

Company 2018 2019 2020 2021 2022

Perfect Companion 42.5 40.5 39.3 37.6 36.1

(Vietnam) Co Ltd
Mars Inc 27.1 24.2 24.0 23.9 23.5
Archer Daniels Midland VN - 15.1 16.0 16.6 17.6
Co Ltd
Daejoo Co Ltd 1.5 1.7 1.7 1.7 1.8
Kodo Inc 1.5 1.5 1.3 1.3 1.8
CTCBIO Vietnam Co Ltd 1.3 1.3 1.3 1.3 1.3
Natural Core Co Ltd 0.9 0.9 0.8 0.8 0.9
Bowwow Korea Co Ltd - 0.3 0.4 0.5 0.5
Nestlé SA - - - 0.4 0.4
Neovia Vietnam Co Ltd 13.0 - - - -
Texas Farm Products Co Inc - - - - -
Natural Pet Co Ltd - - - - -
Others 12.1 14.6 15.2 15.8 16.1
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 9 LBN Brand Shares of Dog and Cat Food: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

CP (Charoen Pokphand Perfect Companion 16.0 15.4 14.6 13.7

Group) (Vietnam) Co Ltd
SmartHeart (Charoen Perfect Companion 13.6 12.9 12.2 11.5
Pokphand Group) (Vietnam) Co Ltd
Me-O (Charoen Perfect Companion 10.9 11.0 10.9 10.9
Pokphand Group) (Vietnam) Co Ltd
Ganador (Archer Archer Daniels Midland VN 7.9 9.0 9.9 10.8
Daniels Midland Co) Co Ltd
Pedigree Mars Inc 9.5 9.7 9.8 9.9
Royal Canin Mars Inc 8.5 8.2 8.0 7.5
Minino (Archer Archer Daniels Midland VN 7.2 7.0 6.7 6.8
Daniels Midland Co) Co Ltd
Whiskas Mars Inc 6.3 6.1 6.1 6.1
Catsrang Daejoo Co Ltd 1.7 1.7 1.7 1.8
ANF (Wooriwa Co Ltd) Kodo Inc 1.5 1.3 1.3 1.8
Cat's Eye (CTCBIO Inc) CTCBIO Vietnam Co Ltd 1.3 1.3 1.3 1.3
Natural Core Natural Core Co Ltd 0.9 0.8 0.8 0.9
Zenith Bowwow Korea Co Ltd 0.3 0.4 0.5 0.5
Pro Plan Nestlé SA - - 0.4 0.4
ANF Kodo Inc - - - -
Natural Core Natural Pet Co Ltd - - - -
Blisk (InVivo Group) Neovia Vietnam Co Ltd - - - -
Blisk (Neovia) Neovia Vietnam Co Ltd - - - -
Ganador (InVivo Group) Neovia Vietnam Co Ltd - - - -
Ganador (Neovia) Neovia Vietnam Co Ltd - - - -
Minino (Neovia) Neovia Vietnam Co Ltd - - - -
ANF Texas Farm Products Co Inc - - - -

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Others Others 14.6 15.2 15.8 16.1

Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 10 Distribution of Pet Care by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 91.8 92.1 92.6 93.2 93.5 93.8

- Retail Offline 89.5 89.7 89.7 89.9 89.1 88.3
-- Grocery Retailers 13.8 14.2 14.3 14.6 14.8 15.2
--- Convenience Retail - - - - - -
--- Discounters - - - - - -
--- Hypermarkets 4.0 4.1 4.3 4.4 4.5 4.8
--- Supermarkets 8.4 8.5 8.7 9.1 9.3 9.6
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 1.3 1.6 1.3 1.1 1.0 0.8
-- Non-Grocery Retailers 75.8 75.5 75.3 75.3 74.3 73.1
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products 75.8 75.5 75.3 75.3 74.3 73.1
Specialists
---- Home Improvement - - - - - -
and Gardening Stores
---- Homewares and Home - - - - - -
Furnishing Stores
---- Pet Shops and 75.8 75.5 75.3 75.3 74.3 73.1
Superstores
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - 0.0
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 2.2 2.4 2.9 3.3 4.4 5.5
Non-retail channels 8.2 7.9 7.4 6.8 6.5 6.2
- Veterinary clinics 8.2 7.9 7.4 6.8 6.5 6.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 11 Distribution of Pet Care by Format and Category: % Value 2023

% retail value rsp

Pet Food Pet Products

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PET CARE IN VIETNAM Passport 8

Retail Channels 94.2 91.9

- Retail Offline 88.8 86.1
-- Grocery Retailers 16.8 7.3
--- Convenience Retail 0.0 0.0
--- Discounters 0.0 0.0
--- Hypermarkets 5.1 3.2
--- Supermarkets 10.7 4.1
--- Warehouse Clubs 0.0 0.0
--- Food/drink/tobacco specialists 0.0 0.0
--- Small Local Grocers 1.0 0.0
-- Non-Grocery Retailers 72.0 78.8
--- General Merchandise Stores 0.0 0.0
--- Apparel and Footwear Specialists 0.0 0.0
--- Appliances and Electronics Specialists 0.0 0.0
--- Home Products Specialists 72.0 78.8
---- Home Improvement and Gardening Stores 0.0 0.0
---- Homewares and Home Furnishing Stores 0.0 0.0
---- Pet Shops and Superstores 72.0 78.8
--- Health and Beauty Specialists 0.0 0.0
--- Leisure and Personal Goods Specialists 0.0 0.0
--- Other Non-Grocery Retailers 0.0 0.0
-- Vending 0.0 0.0
-- Direct Selling 0.0 0.0
- Retail E-Commerce 5.4 5.8
Non-retail channels 5.8 8.1
- Veterinary clinics 5.8 8.1
Total 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Key: PF = pet food; PP = pet products

Table 12 Distribution of Dog and Cat Food by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 91.4 91.9 92.2 92.9 93.5 94.0

- Retail Offline 88.9 89.2 89.1 89.5 89.1 88.6
-- Grocery Retailers 16.0 16.3 16.3 16.4 16.6 17.0
--- Convenience Retail - - - - - -
--- Discounters - - - - - -
--- Hypermarkets 4.6 4.7 4.8 4.9 5.0 5.3
--- Supermarkets 10.3 10.2 10.3 10.6 10.8 11.0
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 1.0 1.4 1.1 0.9 0.8 0.7
-- Non-Grocery Retailers 72.9 72.9 72.8 73.1 72.5 71.6
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products 72.9 72.9 72.8 73.1 72.5 71.6
Specialists
---- Home Improvement - - - - - -
and Gardening Stores
---- Homewares and Home - - - - - -

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PET CARE IN VIETNAM Passport 9

Furnishing Stores
---- Pet Shops and 72.9 72.9 72.8 73.1 72.5 71.6
Superstores
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - 0.0
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 2.5 2.7 3.1 3.5 4.4 5.4
Non-retail channels 8.6 8.1 7.8 7.1 6.5 6.0
- Veterinary clinics 8.6 8.1 7.8 7.1 6.5 6.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 13 Distribution of Dog and Cat Food by Format and Category: % Value 2023

% retail value rsp

Cat Food Dog Food

Retail Channels 93.7 94.2

- Retail Offline 88.4 88.7
-- Grocery Retailers 18.4 16.2
--- Convenience Retail 0.0 0.0
--- Discounters 0.0 0.0
--- Hypermarkets 4.3 5.9
--- Supermarkets 13.0 9.8
--- Warehouse Clubs 0.0 0.0
--- Food/drink/tobacco specialists 0.0 0.0
--- Small Local Grocers 1.0 0.5
-- Non-Grocery Retailers 70.0 72.5
--- General Merchandise Stores 0.0 0.0
--- Apparel and Footwear Specialists 0.0 0.0
--- Appliances and Electronics Specialists 0.0 0.0
--- Home Products Specialists 70.0 72.5
---- Home Improvement and Gardening Stores 0.0 0.0
---- Homewares and Home Furnishing Stores 0.0 0.0
---- Pet Shops and Superstores 70.0 72.5
--- Health and Beauty Specialists 0.0 0.0
--- Leisure and Personal Goods Specialists 0.0 0.0
--- Other Non-Grocery Retailers 0.0 0.0
-- Vending 0.0 0.0
-- Direct Selling 0.0 0.0
- Retail E-Commerce 5.3 5.5
Non-retail channels 6.3 5.8
- Veterinary clinics 6.3 5.8
Total 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Key: CF = cat food; DF = dog food

Table 14 Forecast Sales of Pet Food by Category: Volume 2023-2028

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PET CARE IN VIETNAM Passport 10

Tonnes
2023 2024 2025 2026 2027 2028

Other Pet Food 925.0 960.0 1,002.0 1,051.8 1,110.4 1,178.8

Dog and Cat Food 16,288.1 18,541.9 21,262.2 24,557.6 28,567.8 33,471.8
Pet Food 17,213.1 19,501.9 22,264.3 25,609.4 29,678.2 34,650.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 15 Forecast Sales of Pet Care by Category: Value 2023-2028

VND billion
2023 2024 2025 2026 2027 2028

Other Pet Products 305.2 327.8 353.4 382.4 415.2 452.6

Pet Healthcare 70.2 76.9 83.8 91.0 98.2 105.6
Cat Litter 9.6 10.4 11.2 12.1 13.1 14.2
Pet Products 385.1 415.1 448.4 485.4 526.5 572.4
Other Pet Food 100.9 106.6 113.0 120.5 129.0 138.9
Dog and Cat Food 1,827.7 2,067.5 2,355.2 2,701.6 3,120.5 3,629.3
Pet Food 1,928.6 2,174.0 2,468.2 2,822.1 3,249.6 3,768.1
Pet Care 2,313.7 2,589.1 2,916.6 3,307.5 3,776.1 4,340.5
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 16 Forecast Sales of Pet Food by Category: % Volume Growth 2023-2028

% volume growth
2023/24 2023-28 CAGR 2023/28 Total

Other Pet Food 3.8 5.0 27.4

Dog and Cat Food 13.8 15.5 105.5
Pet Food 13.3 15.0 101.3
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 17 Forecast Sales of Pet Care by Category: % Value Growth 2023-2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

Other Pet Products 7.4 8.2 48.3

Pet Healthcare 9.5 8.5 50.3
Cat Litter 7.5 8.0 47.2
Pet Products 7.8 8.2 48.6
Other Pet Food 5.6 6.6 37.6
Dog and Cat Food 13.1 14.7 98.6
Pet Food 12.7 14.3 95.4
Pet Care 11.9 13.4 87.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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DISCLAIMER
Forecast closing date: 17 April 2023
Report closing date: 11 May 2023
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2023 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.

SOURCES
Sources used during research include the following:

Summary 1 Research Sources

Official Sources Clinic of Animal Health

Customs Dept

Dept of Animal Health Vietnam

Hanoi Veterinary Dept

Institute of Hygiene & Epidemiology

Ministry of Agriculture

Trade Associations Vietnam Small Animal Veterinary Association

(VSAVA)

Trade Press An Ninh Thu Do

Bac Si Thu Y

Bao Ho Thuong Hieu

Bao Moi

Chocanhtrungthanh

Daily Info

Dat Viet News

Doanh Nhan Saigon Online

Fica News

Gia Dinh

Infonet News

Kien Thuc News

Kinh Te Do Thi

Lao Dong News

Massogroup

Nhan Dan

Nhip Cau Dau Tu News

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PET CARE IN VIETNAM Passport 12

Phap Luat

Phu Nu Vietnam

Rao Vat Xa Lo

Saigon Marketing

Saigon Times

Song Tre

Tai Chinh

Tien Phong News

Tiep Thi Gia Dinh

Tin Nhanh Chung Khoan

Tin Tuc

Tuoi Tre Online

Vat Gia

Vietbao

Vietnam Business Directory

Vietnamnet

VTC News

Zing News

Source: Euromonitor International

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CAT FOOD IN VIETNAM - CATEGORY

ANALYSIS
KEY DATA FINDINGS

▪ Retail value sales increase by 18% in current terms in 2023 to VND686 billion
▪ Cat treats and mixers is the best performing category in 2023, with retail value sales
increasing by 25% in current terms to VND2.8 billion
▪ Perfect Companion (Vietnam) Co Ltd is the leading player in 2022, with a retail value share of
29%
▪ Retail sales are set to increase at a current value CAGR of 20% (2023 constant value CAGR
of 15%) over the forecast period to VND1.7 trillion

2023 DEVELOPMENTS

Rising prices having little impact on demand for cat food

The price of cat food is set to continue increasing in 2023 having already risen sharply in
2022. Manufacturers have seen an increase in the cost of production, while transportation costs
have also increased. These increased costs are linked to various factors with one of the major
ones being Russia's invasion of Ukraine. Despite these price rises cat food continues to enjoy
dynamic double-digit growth in current value and retail volume terms in 2023, continuing the
pattern seen in 2022. With COVID-19 fears subsiding and an uptick in economic activity there
are signs of consumer confidence returning, which is helping to fuel demand for cat food.
The percentage of households owning a cat continues to rise with this being another key
factor behind the ongoing strong growth being seen in cat food. With more communications
about animal welfare, there is growing awareness of the benefits of keeping cats as pets rather
than consuming them as food. Affluent families living in first-tier cities such as Ho Chi Minh City,
Hanoi and Danang also keep purebred cats as a way of showing their elevated social and
economic status. The owners of such cats generally want to feed them with prepared cat food
rather than table scraps, with premium brands often chosen. Although the number of owners
using prepared cat food rather than non-prepared food remains low it is increasing as
consumers continue to build closer relationships with their pets.

Mid-priced outperforms premium amidst inflation

Mid-priced products continue to dominate sales of cat food, with the challenging economic
environment and elevated inflation continuing to deter some consumers from trading up to
premium options. Mid-priced cat food is widely available and is familiar to owners. Given the
fussiness of many cats owners are also often reluctant to change brand or product once they
find one which their cat is happy with.
Perfect Companion (Vietnam) continued to lead cat food in 2022 with its popular Me-O brand.
The company has made significant efforts to extend its distribution network. The success of this
can be seen in the fact that Me-O is now available in virtually every relevant retail outlet across
all important distribution channels, whilst the brand is obtaining positive feedback from both
customers and retailers. In addition, Me-O is positioned in the mid-priced segment, making it

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affordable for large numbers of consumers and making it popular in pet superstores in urban
areas, as well as smaller pet shops in rural and suburban areas.
Cat treats and mixers remains the most dynamic category in current value terms in 2023,
although growth is coming from a very low base. There are several factors behind this, including
the pet humanisation trend, although this is in the very early stages of development. Social
media platforms have helped attract pet owners to the idea of cat treats and mixers, with
influencers and pet videos showing the use of these products. Additionally, more players are
now offering these products. This includes existing brands such as Me-O and Whiskers
Temptations along with new imported brands from Korea and Japan.

Dry cat food dominates but wet cat food benefiting from increasing
awareness of its benefits
Dry cat food witnessed more dynamic growth than wet cat food in current value terms in 2022,
and this is set to continue in 2023. Consumer awareness of dry cat food is much higher,
ensuring value sales of dry cat food are considerably higher than those of wet cat food. Dry cat
food is also more widely available, while it is perceived to be more affordable and easier to
store.
Although wet cat food is more expensive than dry food there is growing awareness of the
product features and benefits of wet cat food and therefore demand is increasing. For example,
wet cat food has a high water content which makes it preferrable for cats with kidney problems
and diabetes, among other conditions. It is also seen to be a better option for cats which are
overweight.
As demand for wet cat food grows retailers are also looking to provide more options, while
manufacturers on their part are making more effort to expand the distribution network for their
wet cat food products. Aside from Mars Inc’s Whiskas brand the competitive landscape within
wet cat food is crowded with a large number of smaller brands, thereby giving consumers and
their cats plenty of options.

PROSPECTS AND OPPORTUNITIES

Sales set to continue rising as the pet cat population continues to grow
Although not as large as Vietnam’s dog population, the country’s pet cat population continues
to see strong growth with this set to continue over the forecast period. Locals are increasingly
viewing cats as pets and even as a part of the family, while fewer and fewer people are eating
cats. Cats have lived with people in Vietnam for many years. They are not just seen as pets, but
also as working animals because they help protect homes and crops from rats and mice. Cats
and dogs are the most popular pets in Vietnam. However, cats tend to be easier and more
convenient for people in urban areas to take care of and they are increasingly feeding their cats
packaged food. People in rural areas mostly still feed their cats with leftover non-prepared food,
but more people in urban areas are now getting used to the benefits of packaged cat food.
Despite life in big cities in Vietnam becoming busier, people can still feel lonely and unhappy,
and owning a cat may be considered for companionship. This should continue to fuel the pet
humanisation trend, which in turn should help boost demand not only for mid-priced dried cat
food but also other options such as wet cat food. As demand grows more brands are expected
to join the market, including imported options, while existing players are likely to continue
expanding their product ranges in order to remain competitive.
There is also a strong community of cat owners in Vietnam who are keen to nurture and share
their hobby and this encouraging increased expenditure on cat food. Cats are also often chosen

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as pets for coffee shops thanks to their typically quiet, cute and friendly characteristics. All of
these factors point towards a bright future for cat food in Vietnam with the category expected to
continue recording dynamic growth in both value and volume terms.

All options set to see dynamic growth but mid-priced dry cat food likely
to maintain dominance
All cat food categories are expected to see strong growth in the forecast period. Dry cat food,
especially mid-priced dry cat food, is set to remain the dominant category with growth likely to
be supported by the entry of new products. The category is also likely to benefit from more
investment in marketing as players look to increase demand for established brands such as Me-
O and Royal Canin. Most new customers of cat food also generally start by purchasing mid-
priced dry cat food thanks in part to its more accessible prices and wider availability. The move
to prepared cat food is expected to continue as consumers become more aware of animal
welfare and the benefits to cats from feeding nutritionally balanced prepared cat food.
Despite being projected to see the slowest growth, wet cat food is still likely to continue
recording dynamic growth in value and volume terms. This is thanks to the expected entry of
more new brands and variants, such as Me-O wet cat food. Furthermore, consumers are also
becoming more aware of the health benefits of wet cat food, such as its ability to hydrate as well
as satiate hunger. Key to growth will be increasing investment in marketing and awareness
campaigns to encourage cat owners to make the switch.
Rising disposable incomes and the emergence of the pet humanisation trend are also likely to
support the further expansion in the range of premium cat food available in Vietnam. This should
also be supported by the rising number of people in urban areas owning pedigree cats. As
consumers become more aware of the importance of an appropriate and balanced nutrition to
keep their cat fit and healthy they are likely to become more willing to invest in premium
products, as well as in cat treats and mixers. Social media has also helped to raise awareness
of how cat treats can create a bond between an owner and their cats.

Economic recovery could help cat food to grow and expand

Aside from the expected growth in the pet cat population, demand for cat food should also
start to see stronger growth as the economy stabilises. While demand has not dropped
significantly even as prices have risen, once inflation stabilises and consumer confidence
improves it is likely that consumers will be willing to spend more on cat food. With more money
in their pocket owners would likely be more willing to trade up to premium options, especially if
they can be convinced of the added value.
As more people take their cats to the vets this should also help to increase awareness about
the importance of a balanced nutrition. Additionally, this could also help encourage consumers
to purchase therapeutic cat food that can help alleviate conditions related to the kidneys,
diabetes, or to help overweight cats. Furthermore, increasing internet access should also help to
create improved education and awareness around cat nutrition as well as driving distribution
through e-commerce. Many consumers became familiar with the convenience of shopping
online during the pandemic, with this being particularly relevant for bulky items such as tins of
wet cat food and larger sacks of dried cat food.

CATEGORY INDICATORS
Table 18 Cat Owning Households: % Analysis 2018-2023

2018 2019 2020 2021 2022 2023

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% Households owning a 11.8 12.0 12.4 13.0 13.4 13.8

cat (% households)
Households owning a cat 3,132.1 3,224.4 3,372.3 3,575.2 3,720.9 3,866.2
('000 Households)
Source: Euromonitor International from official statistics

Table 19 Cat Population 2018-2023

'000s of animals
2018 2019 2020 2021 2022 2023

Cat Population 4,106.1 4,373.0 4,670.3 4,950.5 5,198.1 5,432.0

Source: Euromonitor International from official statistics

Table 20 Consumption of Cat Food by Prepared vs Non-prepared: % Analysis 2018-2023

% total consumption
2018 2019 2020 2021 2022 2023

Prepared cat food 1.7 2.0 2.1 2.2 2.4 2.5

Non-prepared cat food 98.3 98.0 97.9 97.8 97.6 97.5
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

CATEGORY DATA
Summary 2 Cat Food by Price Band 2023
Category Price range per kg VND Brand examples

Wet cat food Premium Above VND175,000 Roya Canin, Natural

Core, Ciao

Mid-priced VND125,000-270,000 Whiskas, Me-O,

Morando

Economy Below VND125,000 N/A

Dry cat food Premium Above VND125,000 Royal Canin, Iskhan

Mid-priced VND60,000 – Me-O, Whiskas,

125,000 Minino, Kitekat, Tony
Cat

Economy Below VND60,000 N/A

Source: Euromonitor International

Table 21 Sales of Cat Food by Category: Volume 2018-2023

Tonnes
2018 2019 2020 2021 2022 2023

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--- Premium Wet Cat Food - - - - - -

--- Mid-Priced Wet Cat 179.7 192.7 206.2 222.7 242.7 265.8
Food
--- Economy Wet Cat Food - - - - - -
-- Wet Cat Food 179.7 192.7 206.2 222.7 242.7 265.8
--- Premium Dry Cat Food 175.6 209.4 230.3 255.6 285.0 319.2
--- Mid-Priced Dry Cat 2,370.4 3,010.3 3,341.5 3,675.6 4,153.5 4,735.0
Food
--- Economy Dry Cat Food - - - - - -
-- Dry Cat Food 2,546.0 3,219.7 3,571.8 3,931.3 4,438.5 5,054.2
-- Cat Treats and Mixers 10.5 17.9 22.3 28.4 34.1 40.7
- Cat Food 2,736.2 3,430.3 3,800.3 4,182.3 4,715.3 5,360.7
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 22 Sales of Cat Food by Category: Value 2018-2023

VND billion
2018 2019 2020 2021 2022 2023

--- Premium Wet Cat Food - - - - - -

--- Mid-Priced Wet Cat 21.5 24.1 26.7 30.2 34.4 39.6
Food
--- Economy Wet Cat Food - - - - - -
-- Wet Cat Food 21.5 24.1 26.7 30.2 34.4 39.6
--- Premium Dry Cat Food 38.3 46.1 51.6 58.6 67.9 79.5
--- Mid-Priced Dry Cat 245.5 320.0 361.6 405.0 475.9 563.9
Food
--- Economy Dry Cat Food - - - - - -
-- Dry Cat Food 283.8 366.1 413.2 463.5 543.8 643.4
-- Cat Treats and Mixers 0.6 1.1 1.3 1.8 2.2 2.8
- Cat Food 305.9 391.2 441.3 495.5 580.5 685.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 23 Sales of Cat Food by Category: % Volume Growth 2018-2023

% volume growth
2022/23 2018-23 CAGR 2018/23 Total

--- Premium Wet Cat Food - - -

--- Mid-Priced Wet Cat Food 9.5 8.1 47.9
--- Economy Wet Cat Food - - -
-- Wet Cat Food 9.5 8.1 47.9
--- Premium Dry Cat Food 12.0 12.7 81.8
--- Mid-Priced Dry Cat Food 14.0 14.8 99.8
--- Economy Dry Cat Food - - -
-- Dry Cat Food 13.9 14.7 98.5
-- Cat Treats and Mixers 19.5 31.1 287.7
- Cat Food 13.7 14.4 95.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 24 Sales of Cat Food by Category: % Value Growth 2018-2023

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PET CARE IN VIETNAM Passport 18

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

--- Premium Wet Cat Food - - -

--- Mid-Priced Wet Cat Food 15.0 13.0 84.2
--- Economy Wet Cat Food - - -
-- Wet Cat Food 15.0 13.0 84.2
--- Premium Dry Cat Food 17.0 15.7 107.7
--- Mid-Priced Dry Cat Food 18.5 18.1 129.7
--- Economy Dry Cat Food - - -
-- Dry Cat Food 18.3 17.8 126.7
-- Cat Treats and Mixers 25.0 35.2 351.0
- Cat Food 18.1 17.5 124.2
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 25 Sales of Dry Cat Food by Life-Cycle: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Kitten/Pup 11.6 12.0 12.5 13.0 15.0 14.7

Adult 88.4 88.0 87.5 87.0 85.0 85.3
Senior - - - - - -
Other - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 26 Sales of Wet Cat Food by Life-Cycle: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Kitten/Pup 12.5 12.7 13.4 13.9 14.0 14.5

Adult 87.5 87.3 86.6 86.1 86.0 85.5
Senior - - - - - -
Other - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 27 NBO Company Shares of Cat Food: % Value 2018-2022

% retail value rsp

Company 2018 2019 2020 2021 2022

Perfect Companion 28.2 28.6 29.2 29.2 29.2

(Vietnam) Co Ltd
Mars Inc 28.9 24.3 23.9 23.7 23.2
Archer Daniels Midland VN - 18.8 18.5 18.1 18.2
Co Ltd
Daejoo Co Ltd 4.2 4.4 4.5 4.6 4.8
CTCBIO Vietnam Co Ltd 3.5 3.5 3.5 3.5 3.6

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Kodo Inc 0.7 0.8 0.8 0.8 1.1

Neovia Vietnam Co Ltd 17.2 - - - -
Texas Farm Products Co Inc - - - - -
Others 17.4 19.6 19.6 20.1 19.9
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 28 LBN Brand Shares of Cat Food: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

Me-O (Charoen Perfect Companion 28.6 29.2 29.2 29.2

Pokphand Group) (Vietnam) Co Ltd
Minino (Archer Archer Daniels Midland VN 18.8 18.5 18.1 18.2
Daniels Midland Co) Co Ltd
Whiskas Mars Inc 16.4 16.2 16.3 16.3
Royal Canin Mars Inc 7.9 7.7 7.4 6.9
Catsrang Daejoo Co Ltd 4.4 4.5 4.6 4.8
Cat's Eye (CTCBIO Inc) CTCBIO Vietnam Co Ltd 3.5 3.5 3.5 3.6
ANF (Wooriwa Co Ltd) Kodo Inc 0.8 0.8 0.8 1.1
ANF Kodo Inc - - - -
Blisk (InVivo Group) Neovia Vietnam Co Ltd - - - -
Blisk (Neovia) Neovia Vietnam Co Ltd - - - -
Minino (Neovia) Neovia Vietnam Co Ltd - - - -
ANF Texas Farm Products Co Inc - - - -
Others Others 19.6 19.6 20.1 19.9
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 29 LBN Brand Shares of Cat Treats and Mixers: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

Ciao Inaba Pet Food Co Ltd 25.0 24.0 24.4 24.6

Whiskas Temptations Mars Inc 9.5 9.0 8.4 8.0
Others Others 65.5 67.0 67.2 67.4
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 30 Distribution of Cat Food by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 91.7 92.0 92.2 92.6 93.1 93.7

- Retail Offline 89.0 89.1 88.9 89.1 88.7 88.4
-- Grocery Retailers 18.5 18.5 18.1 18.1 18.0 18.4
--- Convenience Retail - - - - - -
--- Discounters - - - - - -
--- Hypermarkets 4.2 4.0 4.0 4.1 4.1 4.3

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--- Supermarkets 13.0 12.5 12.5 12.7 12.8 13.0

--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 1.3 2.0 1.6 1.3 1.2 1.0
-- Non-Grocery Retailers 70.5 70.6 70.8 71.0 70.6 70.0
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products 70.5 70.6 70.8 71.0 70.6 70.0
Specialists
---- Home Improvement - - - - - -
and Gardening Stores
---- Homewares and Home - - - - - -
Furnishing Stores
---- Pet Shops and 70.5 70.6 70.8 71.0 70.6 70.0
Superstores
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - -
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 2.8 2.9 3.4 3.5 4.5 5.3
Non-retail channels 8.3 8.0 7.8 7.4 6.9 6.3
- Veterinary clinics 8.3 8.0 7.8 7.4 6.9 6.3
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 31 Forecast Sales of Cat Food by Category: Volume 2023-2028

Tonnes
2023 2024 2025 2026 2027 2028

--- Premium Wet Cat Food - - - - - -

--- Mid-Priced Wet Cat 265.8 292.3 323.0 358.6 399.8 447.8
Food
--- Economy Wet Cat Food - - - - - -
-- Wet Cat Food 265.8 292.3 323.0 358.6 399.8 447.8
--- Premium Dry Cat Food 319.2 359.1 405.8 460.6 525.1 601.3
--- Mid-Priced Dry Cat 4,735.0 5,421.5 6,234.7 7,201.1 8,353.3 9,731.6
Food
--- Economy Dry Cat Food - - - - - -
-- Dry Cat Food 5,054.2 5,780.7 6,640.6 7,661.8 8,878.4 10,332.9
-- Cat Treats and Mixers 40.7 48.4 57.1 66.9 77.5 89.2
- Cat Food 5,360.7 6,121.4 7,020.8 8,087.2 9,355.8 10,869.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 32 Forecast Sales of Cat Food by Category: Value 2023-2028

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VND billion
2023 2024 2025 2026 2027 2028

--- Premium Wet Cat Food - - - - - -

--- Mid-Priced Wet Cat 39.6 43.2 47.3 52.0 57.5 63.8
Food
--- Economy Wet Cat Food - - - - - -
-- Wet Cat Food 39.6 43.2 47.3 52.0 57.5 63.8
--- Premium Dry Cat Food 79.5 89.0 100.1 113.1 128.4 146.4
--- Mid-Priced Dry Cat 563.9 648.5 749.0 868.8 1,012.2 1,184.3
Food
--- Economy Dry Cat Food - - - - - -
-- Dry Cat Food 643.4 737.5 849.1 982.0 1,140.6 1,330.7
-- Cat Treats and Mixers 2.8 3.3 4.0 4.7 5.5 6.4
- Cat Food 685.8 784.0 900.4 1,038.7 1,203.6 1,400.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 33 Forecast Sales of Cat Food by Category: % Volume Growth 2023-2028

% volume growth
2023/24 2023-28 CAGR 2023/28 Total

--- Premium Wet Cat Food - - -

--- Mid-Priced Wet Cat Food 10.0 11.0 68.5
--- Economy Wet Cat Food - - -
-- Wet Cat Food 10.0 11.0 68.5
--- Premium Dry Cat Food 12.5 13.5 88.3
--- Mid-Priced Dry Cat Food 14.5 15.5 105.5
--- Economy Dry Cat Food - - -
-- Dry Cat Food 14.4 15.4 104.4
-- Cat Treats and Mixers 19.0 17.0 119.2
- Cat Food 14.2 15.2 102.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 34 Forecast Sales of Cat Food by Category: % Value Growth 2023-2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

--- Premium Wet Cat Food - - -

--- Mid-Priced Wet Cat Food 9.0 10.0 61.0
--- Economy Wet Cat Food - - -
-- Wet Cat Food 9.0 10.0 61.0
--- Premium Dry Cat Food 12.0 13.0 84.2
--- Mid-Priced Dry Cat Food 15.0 16.0 110.0
--- Economy Dry Cat Food - - -
-- Dry Cat Food 14.6 15.6 106.8
-- Cat Treats and Mixers 20.0 18.0 128.7
- Cat Food 14.3 15.4 104.3
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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DOG FOOD IN VIETNAM - CATEGORY

ANALYSIS
KEY DATA FINDINGS

▪ Retail value sales rise by 17% in current terms in 2023 to VND1.1 trillion
▪ Dog treats and mixers is the best performing category in 2023, with retail value sales growing
by 21% in current terms to VND3.4 billion
▪ Perfect Companion (Vietnam) Co Ltd is the leading player in 2022, with a retail value share of
40%
▪ Retail sales are set to grow at a current value CAGR of 19% (2023 constant value CAGR of
14%) over the forecast period to VND2.7 trillion

2023 DEVELOPMENTS

Owners looking to improve the life of their companions through dog

treats and wet dog food
Although still a relative niche in the market, dog treats and mixers looks set to remain the
most dynamic category in dog food in 2023 in current value terms. While there has been a
steady shift from non-prepared to prepared dog food there has also been a growing interest in
offering dogs treats as a reward for good behaviour, to be used in training, or simply to help
build and establish a bond between the dog and its owner. As demand grows more players are
being encouraged to enter this category, which is seen to have plenty of potential. Examples of
some recent entrants include Sesame and Bow Wow. Furthermore, new products have also
been introduced under existing brands such as SmartHeart and Pedigree.
Wet dog food is also seeing dynamic growth. Although dry dog food remains the dominant
category, consumers are showing a growing interest in wet dog food, with some pet owners
perceiving it to be more of a treat for their pet companions. Looking to tap into this burgeoning
demand leading dog food players continue to expand their ranges of wet dog food, such as
Perfect Companion (Vietnam) Co Ltd with its SmartHeart brand. Nevertheless, wet dog food is
still at the relatively early stages of development and thus the competition is still limited with
Pedigree holding a strong lead, while the remaining competition is somewhat fragmented.

Royal Canin continues to dominate the premium segment but faces

mounting competition
Royal Canin dominates premium dry dog food, although it is losing share as it faces growing
competition from brands such as ANF and Natural Core. Nonetheless, Royal Canin continues to
benefit from a stable and wide distribution network, thanks to the support of local distributor
CityZoo Co Ltd, with the brand benefiting from shelf displays and strong shelf positioning in pet
shops and pet superstores. It also benefits from strong brand awareness and a solid existing
customer base who are keen to feed their dogs with it products due to their perceived high
quality. The brand offers a wide range of products that cover different needs, such as tailored
nutrition for diabetic dogs

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Perfect Companion (Vietnam) continued to hold a strong overall lead in dog food in 2022 with
its SmartHeart and CP brands, which lead the largest category, which is mid-priced dry dog
food. Mars Inc continues to lead wet dog food with its Pedigree brand, but its share has been in
decline within the category as more players enter this area of the market. Dog food is well
distributed in Vietnam, and the leading brands are all widely available through supermarkets and
the small local grocers that are ubiquitous in every residential neighbourhood throughout the
country. Nevertheless, pet shops and pet superstores remains the dominant distribution
channel, with these outlets offering the widest selection of products.

Mid-priced products remain the most popular option in dog food

Dogs have been popular for a long time in Vietnam, both as pets and as working animals in
families. Meanwhile, the continued rise in the adoption of pets, including dogs, has also partly
been due to the growing desire to protect animals. New pet breeding laws were passed through
the Vietnamese parliament in the review period, whilst campaigns from non-government
organisations in Vietnam have also been important, such as Four Paws. Campaigns from such
organisations are raising awareness that all animals, including dogs, should be respected and
taken care of rather than used as food. This was reflected by the H?i An City People’s
Committee signing a Memorandum of Understanding at the end of 2021 to phase out the
consumption of cat and dog meat in the city. Nonetheless, it is thought that millions of dogs are
still killed for consumption in Vietnam every year, although this practice is being discouraged by
government agencies.
While owners are forming closer bonds with their dogs many are still restricted in what dog
food they can afford. As such, mid-priced products remain the most popular as they offer
acceptable quality, are widely available and importantly are more affordable than premium
options. Due to the success of these products this is also where much of the marketing is
targeted for dog food. With many consumers continuing to face economic challenges in 2023
the premium segment has been seeing significantly slower growth in retail volume terms than
the mid-priced segment.

PROSPECTS AND OPPORTUNITIES

Huge growth potential remains in dog food

Vietnam’s economy is expected to start recovering now that the pandemic is over and
consumers are likely to become more willing and able to spend on dog food. Meanwhile, the
continued rise in the dog population and the increasing switch to prepared food should also
contribute to growth. Only 2% of owners currently feed their dogs prepared food and therefore
there is still a huge potential audience for prepared dog food. The wide and growing availability
of dog food will also make it more convenient to keep dogs as pets and should also encourage
more people to trade up from non-prepared food, at least for some meals.
As disposable incomes rise, premium products are also likely to receive more attention both
from manufacturers and pet owners. As the pet humanisation trend develops in the country,
more owners will likely focus on the health and nutrition of their dogs and will look to purchase
products containing fresh and natural or organic ingredients. They will likely also look for
products formulated for their dog’s breed and/or age and specific health needs. However, this is
likely to be seen mainly amongst wealthier pet owners in urban areas. To attract new
consumers, players will try to differentiate from their competitors and will likely look to attract pet
owners by introducing higher-quality products.

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International brands are expected to dominate while local players could

look for opportunities in niche areas
International brands will likely continue to expand their presence in the market over the
forecast period. There is already a wide range of international brands and products available in
Vietnam across the different price segments and product types, with these players having large
product portfolios. As demand for dog food grows some players could look to explore local
production opportunities to reduce manufacturing costs and to potentially establish a stronger
footing in the market.
In terms of local manufacturers, they will likely look to use their understanding of the local
market and their access to local ingredients to build a stronger share in dog food. Some players
could look to target niche areas of the market, such as King Food with its frozen dog food that
offers a complete meal solution. As owners become more sophisticated and knowledgeable
about dog nutrition they are likely to become more demanding but also more willing to test new
options that have proved popular in other markets, such as the biologically appropriate raw
foods (BARF) diet.

Mid-priced segment will remain the dominant force in dog food

Mid-priced dry dog food is expected to remain the dominant force in dog food over the
forecast period despite the growing interest in premium options and wet dog food. Products in
the mid-priced segment occupy the most space on shelves in pet shops and other retailers
meaning they are the most visible to consumers. Furthermore, mid-priced products are
affordable to more customers, especially people who want to switch from feeding non-prepared
food such as scraps to packaged dog food, since no economy brands are available.
This price segment is populated with established major players such as Perfect Companion
(Vietnam), Guyomarc'h Vietnam and Mars, which are responsible for setting market trends,
maintaining demand and driving growth. Nonetheless, with the growing interest in premium dog
food new players started entering the category at the end of the review period, such as Nestlé
with its Pro Plan brand. This increased product variety should help to attract interest in premium
dog food, especially if it is backed up by product marketing.
Sales of dog treats and mixers are also expected to see dynamic growth over the forecast
period, albeit with growth coming from a low base. The pet humanisation trend is only just
starting to take root in the country, and it may require greater investment in product promotions
by players to stimulate stronger demand over the forecast period. Educating consumers about
the benefits of using dog treats in training is one area with scope for development. Dog food in
general is expected to receive the most interest from investors with it being seen as the area
with the most growth potential within pet care.

CATEGORY INDICATORS
Table 35 Dog Owning Households: % Analysis 2018-2023

2018 2019 2020 2021 2022 2023

% Households owning a 16.6 17.0 17.2 18.0 18.2 18.7

dog (% households)
Households owning a dog 4,406.1 4,567.9 4,677.8 4,950.2 5,053.7 5,238.9
('000 Households)
Source: Euromonitor International from official statistics

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Table 36 Dog Population 2018-2023

'000s of animals
2018 2019 2020 2021 2022 2023

Small Dog Popn (up to 2,532.0 2,684.0 2,850.0 2,992.5 3,121.2 3,246.0
20 lbs or 9 kg)
Medium Dog Popn (20 to 2,007.9 2,082.0 2,165.0 2,229.9 2,292.4 2,354.3
50 lbs or 9 to 23 kg)
Large Dog Popn (Over 50 701.1 719.0 736.0 754.0 767.6 780.6
lbs or over 23 kg)
Dog Population 5,241.0 5,485.0 5,751.0 5,976.4 6,181.1 6,380.9
Source: Euromonitor International from official statistics

Table 37 Consumption of Dog Food by Prepared vs Non-prepared: % Analysis 2018-

2023

% total consumption
2018 2019 2020 2021 2022 2023

Prepared dog food 1.5 1.7 1.9 2.0 2.2 2.4

Non-prepared dog food 98.5 98.3 98.1 98.0 97.8 97.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

CATEGORY DATA
Summary 3 Dog Food by Price Band 2023
Category Price range per kg VND Brand examples

Wet dog food Premium Above VND160,000 JerHigh, Royal Canin

Mid-priced VND100,000-160,000 Pedigree, SmartHeart

Economy Below VND100,000 N/A

Dry dog food Premium Above VND120,000 Royal Canin, Natural

Core, ANF, Zenith

Mid-priced VND60,000-120,000 SmartHeart, CP

Classic, Pedigree,
Ganador

Economy Below VND60,000 FIB’S, APro

Source: Euromonitor International

Table 38 Sales of Dog Food by Category: Volume 2018-2023

Tonnes
2018 2019 2020 2021 2022 2023

--- Premium Wet Dog Food - - - - - -

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--- Mid-Priced Wet Dog 264.2 297.8 333.5 378.6 431.6 494.1
Food
--- Economy Wet Dog Food - - - - - -
-- Wet Dog Food 264.2 297.8 333.5 378.6 431.6 494.1
--- Premium Dry Dog Food 410.4 463.7 510.1 581.4 627.9 671.8
--- Mid-Priced Dry Dog 5,202.3 6,138.7 6,906.0 7,665.7 8,585.6 9,701.7
Food
--- Economy Dry Dog Food - - - - - -
-- Dry Dog Food 5,612.7 6,602.4 7,416.2 8,247.1 9,213.5 10,373.6
-- Dog Treats and Mixers 30.1 35.5 40.2 45.6 52.0 59.8
- Dog Food 5,907.0 6,935.8 7,789.9 8,671.2 9,697.0 10,927.5
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 39 Sales of Dog Food by Category: Value 2018-2023

VND billion
2018 2019 2020 2021 2022 2023

--- Premium Wet Dog Food - - - - - -

--- Mid-Priced Wet Dog 32.1 37.2 42.4 49.2 58.3 69.4
Food
--- Economy Wet Dog Food - - - - - -
-- Wet Dog Food 32.1 37.2 42.4 49.2 58.3 69.4
--- Premium Dry Dog Food 86.9 100.6 113.2 134.4 151.8 170.0
--- Mid-Priced Dry Dog 407.3 494.6 571.2 651.2 761.9 899.0
Food
--- Economy Dry Dog Food - - - - - -
-- Dry Dog Food 494.2 595.2 684.4 785.5 913.7 1,069.1
-- Dog Treats and Mixers 1.5 1.8 2.0 2.3 2.8 3.4
- Dog Food 527.8 634.2 728.9 837.1 974.9 1,141.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 40 Sales of Dog Food by Category: % Volume Growth 2018-2023

% volume growth
2022/23 2018-23 CAGR 2018/23 Total

--- Premium Wet Dog Food - - -

--- Mid-Priced Wet Dog Food 14.5 13.3 87.0
--- Economy Wet Dog Food - - -
-- Wet Dog Food 14.5 13.3 87.0
--- Premium Dry Dog Food 7.0 10.4 63.7
--- Mid-Priced Dry Dog Food 13.0 13.3 86.5
--- Economy Dry Dog Food - - -
-- Dry Dog Food 12.6 13.1 84.8
-- Dog Treats and Mixers 15.0 14.7 98.7
- Dog Food 12.7 13.1 85.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 41 Sales of Dog Food by Category: % Value Growth 2018-2023

% current value growth

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2022/23 2018-23 CAGR 2018/23 Total

--- Premium Wet Dog Food - - -

--- Mid-Priced Wet Dog Food 19.0 16.7 116.3
--- Economy Wet Dog Food - - -
-- Wet Dog Food 19.0 16.7 116.3
--- Premium Dry Dog Food 12.0 14.4 95.6
--- Mid-Priced Dry Dog Food 18.0 17.2 120.7
--- Economy Dry Dog Food - - -
-- Dry Dog Food 17.0 16.7 116.3
-- Dog Treats and Mixers 21.0 18.2 131.2
- Dog Food 17.1 16.7 116.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 42 Sales of Dry Dog Food by Life-Cycle: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Kitten/Pup 25.5 25.0 24.0 23.0 23.5 24.3

Adult 74.5 75.0 76.0 77.0 76.5 75.7
Senior - - - - - -
Other - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 43 Sales of Wet Dog Food by Life-Cycle: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Kitten/Pup 8.5 9.0 10.0 11.0 13.0 15.0

Adult 91.5 91.0 90.0 89.0 87.0 85.0
Senior - - - - - -
Other - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 44 NBO Company Shares of Dog Food: % Value 2018-2022

% retail value rsp

Company 2018 2019 2020 2021 2022

Perfect Companion 50.8 47.8 45.4 42.6 40.2

(Vietnam) Co Ltd
Mars Inc 26.1 24.1 24.1 23.9 23.6
Archer Daniels Midland VN - 12.8 14.4 15.7 17.3
Co Ltd
Kodo Inc 1.9 1.9 1.6 1.7 2.2
Natural Core Co Ltd 1.5 1.4 1.4 1.3 1.4
Bowwow Korea Co Ltd - 0.4 0.6 0.7 0.8
Nestlé SA - - - 0.7 0.7

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Jiangxi Welton Pet 0.1 0.1 0.1 0.1 0.1

Products Co Ltd
Neovia Vietnam Co Ltd 10.6 - - - -
Texas Farm Products Co Inc - - - - -
Natural Pet Co Ltd - - - - -
Others 9.0 11.4 12.4 13.2 13.8
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 45 LBN Brand Shares of Dog Food: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

CP (Charoen Pokphand Perfect Companion 25.9 24.7 23.3 21.9

Group) (Vietnam) Co Ltd
SmartHeart (Charoen Perfect Companion 22.0 20.7 19.3 18.3
Pokphand Group) (Vietnam) Co Ltd
Ganador (Archer Archer Daniels Midland VN 12.8 14.4 15.7 17.3
Daniels Midland Co) Co Ltd
Pedigree Mars Inc 15.4 15.6 15.6 15.7
Royal Canin Mars Inc 8.8 8.5 8.3 7.9
ANF (Wooriwa Co Ltd) Kodo Inc 1.9 1.6 1.7 2.2
Natural Core Natural Core Co Ltd 1.4 1.4 1.3 1.4
Zenith Bowwow Korea Co Ltd 0.4 0.6 0.7 0.8
Pro Plan Nestlé SA - - 0.7 0.7
Vegebrand Jiangxi Welton Pet 0.1 0.1 0.1 0.1
Products Co Ltd
ANF Kodo Inc - - - -
Natural Core Natural Pet Co Ltd - - - -
Ganador (InVivo Group) Neovia Vietnam Co Ltd - - - -
Ganador (Neovia) Neovia Vietnam Co Ltd - - - -
ANF Texas Farm Products Co Inc - - - -
Others Others 11.4 12.4 13.2 13.8
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 46 LBN Brand Shares of Dog Treats and Mixers: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

Vegebrand Jiangxi Welton Pet 26.1 26.2 25.3 24.7

Products Co Ltd
Pedigree Mars Inc 20.0 19.8 19.6 19.0
SmartHeart (Charoen Perfect Companion 12.9 12.6 12.3 11.7
Pokphand Group) (Vietnam) Co Ltd
Others Others 40.9 41.3 42.7 44.6
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 47 Distribution of Dog Food by Format: % Value 2018-2023

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% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 91.1 91.8 92.2 93.1 93.7 94.2

- Retail Offline 88.8 89.3 89.3 89.7 89.4 88.7
-- Grocery Retailers 14.5 15.0 15.2 15.4 15.7 16.2
--- Convenience Retail - - - - - -
--- Discounters - - - - - -
--- Hypermarkets 4.8 5.1 5.3 5.4 5.5 5.9
--- Supermarkets 8.8 8.8 9.0 9.3 9.7 9.8
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 0.9 1.1 0.9 0.7 0.6 0.5
-- Non-Grocery Retailers 74.3 74.3 74.1 74.3 73.6 72.5
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products 74.3 74.3 74.1 74.3 73.6 72.5
Specialists
---- Home Improvement - - - - - -
and Gardening Stores
---- Homewares and Home - - - - - -
Furnishing Stores
---- Pet Shops and 74.3 74.3 74.1 74.3 73.6 72.5
Superstores
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - 0.0
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 2.3 2.5 3.0 3.4 4.3 5.5
Non-retail channels 8.9 8.2 7.8 6.9 6.3 5.8
- Veterinary clinics 8.9 8.2 7.8 6.9 6.3 5.8
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 48 Forecast Sales of Dog Food by Category: Volume 2023-2028

Tonnes
2023 2024 2025 2026 2027 2028

--- Premium Wet Dog Food - - - - - -

--- Mid-Priced Wet Dog 494.1 568.3 659.2 771.2 910.1 1,083.0
Food
--- Economy Wet Dog Food - - - - - -
-- Wet Dog Food 494.1 568.3 659.2 771.2 910.1 1,083.0
--- Premium Dry Dog Food 671.8 722.9 782.2 849.5 925.9 1,012.9
--- Mid-Priced Dry Dog 9,701.7 11,060.0 12,719.0 14,754.0 17,262.2 20,369.4
Food

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--- Economy Dry Dog Food - - - - - -

-- Dry Dog Food 10,373.6 11,782.9 13,501.1 15,603.4 18,188.1 21,382.3
-- Dog Treats and Mixers 59.8 69.3 81.1 95.7 113.9 136.7
- Dog Food 10,927.5 12,420.5 14,241.4 16,470.4 19,212.0 22,602.0
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 49 Forecast Sales of Dog Food by Category: Value 2023-2028

VND billion
2023 2024 2025 2026 2027 2028

--- Premium Wet Dog Food - - - - - -

--- Mid-Priced Wet Dog 69.4 79.1 91.0 105.6 123.5 145.7
Food
--- Economy Wet Dog Food - - - - - -
-- Wet Dog Food 69.4 79.1 91.0 105.6 123.5 145.7
--- Premium Dry Dog Food 170.0 184.5 201.1 220.2 242.2 267.7
--- Mid-Priced Dry Dog 899.0 1,015.9 1,158.1 1,331.9 1,544.9 1,807.6
Food
--- Economy Dry Dog Food - - - - - -
-- Dry Dog Food 1,069.1 1,200.4 1,359.2 1,552.1 1,787.2 2,075.2
-- Dog Treats and Mixers 3.4 3.9 4.5 5.3 6.3 7.5
- Dog Food 1,141.9 1,283.5 1,454.8 1,662.9 1,917.0 2,228.5
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 50 Forecast Sales of Dog Food by Category: % Volume Growth 2023-2028

% volume growth
2023/24 2023-28 CAGR 2023/28 Total

--- Premium Wet Dog Food - - -

--- Mid-Priced Wet Dog Food 15.0 17.0 119.2
--- Economy Wet Dog Food - - -
-- Wet Dog Food 15.0 17.0 119.2
--- Premium Dry Dog Food 7.6 8.6 50.8
--- Mid-Priced Dry Dog Food 14.0 16.0 110.0
--- Economy Dry Dog Food - - -
-- Dry Dog Food 13.6 15.6 106.1
-- Dog Treats and Mixers 16.0 18.0 128.7
- Dog Food 13.7 15.6 106.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 51 Forecast Sales of Dog Food by Category: % Value Growth 2023-2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

--- Premium Wet Dog Food - - -

--- Mid-Priced Wet Dog Food 14.0 16.0 110.0
--- Economy Wet Dog Food - - -
-- Wet Dog Food 14.0 16.0 110.0
--- Premium Dry Dog Food 8.5 9.5 57.4

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--- Mid-Priced Dry Dog Food 13.0 15.0 101.1

--- Economy Dry Dog Food - - -
-- Dry Dog Food 12.3 14.2 94.1
-- Dog Treats and Mixers 15.0 17.0 119.2
- Dog Food 12.4 14.3 95.2
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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OTHER PET FOOD IN VIETNAM -

CATEGORY ANALYSIS
KEY DATA FINDINGS

▪ Retail value sales rise by 9% in current terms in 2023 to VND101 billion

▪ Fish food is the best performing category in 2023, with retail value sales increasing by 10% in
current terms to VND73.0 billion
▪ See-All Aquariums Co Ltd is the leading player in 2022, with a retail value share of 24%
▪ Retail sales are set to rise at a current value CAGR of 11% (2023 constant value CAGR of
7%) over the forecast period to VND168 billion

2023 DEVELOPMENTS

Other pet food sees moderate growth as consumers are forced to

economise
Compared to dog and cat food, other pet food continues to see relatively modest growth in
retail volume terms in 2023. While the category continues to grow, it is seeing slower growth
than was seen pre-COVID-19. This is largely because the disposable incomes of many
consumers have been negatively impacted by the pandemic while Vietnam has also been
impacted by elevated inflation in 2022 and 2023. This is leading consumers to prioritise food,
healthcare and education. Many people have therefore reduced their spending on products
considered less essential, such as other pet food, often feeding their pets non-prepared food
where possible, or cheaper products. Nonetheless, despite these challenges, the pet bird and
fish populations continued to rise at the end of the review period which has helped ensure that
demand for other pet food remains stable.
The keeping of birds and fish is seen as a hobby or a fad for many consumers, with these
creatures generally not receiving the same status as cats or dogs. It should also be noted that
small mammals and reptiles do not tend to be kept as pets in Vietnam, and therefore sales of
pet food for these animals are negligible. When small mammals/reptiles are kept as pets in
major cities such as Hanoi and Ho Chi Minh City their owners generally choose to feed them
with fresh vegetables, nuts and other types of fresh food that are cheap and widely available
from grocery retailers and specialist pet shops, instead of buying other pet food products.

Prices rise as manufacturers face rising costs

The cost of ingredients, transportation, imports and logistics have continued to rise in 2023
with this forcing many players to increase the price of their products. While players have been
careful to try and manage these price rises, inflation has led to a general increase in the cost of
living and as such this has had a detrimental effect on demand for other pet food, which for
many consumers is not seen as a priority.
Despite this, there are a large number of small players present in other pet food meaning
consumers have a large choice of products to choose from across various price segments.
Given the modest growth being seen the category many players have been focusing on
ensuring a steady distribution presence and offering the most competitive pricing rather than

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investing in new product development. Unlike in dog and cat food there are seen to be fewer
opportunities to add value, especially in the currently difficult economic context.

Distribution of other pet food remains focused on specialist pet shops

Different from dog and cat food, other pet food is mostly only available in specialised pet
shops. For example, fish food is mostly seen in aquarium shops, while bird food is generally
seen in specialist bird shops. These specialised pet shops are not as widespread as general pet
shops and supermarkets which limits stronger growth in other pet food. Furthermore, as the
demand for other pet food is relatively low other retailers are often reluctant to stock these
products. Customers tend to buy other pet food when they purchase their pets and therefore
specialist pet shops also benefit from being the most convenient option for customers.
Specialist retailers therefore play an important role in a brand’s success within other pet food,
as there is a general lack of communication from manufacturers within the category. Moreover,
customers typically believe that retailers are knowledgeable about a broad range of pet care
products and therefore often ask them for advice before purchasing fish or bird food. There is
also a great deal of competition between manufacturers vying for prominent shelf space within
retail outlets, with retailers having the ultimate say over which products to stock.
As in other categories, retail e-commerce continues to gain distribution share in 2023, building
on the strong gains seen during the pandemic. E-commerce sites such as www.shopee.vn and
www.lazada.vn are becoming increasingly popular as sources for purchasing other pet food,
whilst social media platforms such as Facebook and online social groups and forums are also
facilitating sales of other pet food by connecting pet owners and influencing their purchasing
decisions. However, growth is coming from a low base and the share of this channel remains
relatively low.

PROSPECTS AND OPPORTUNITIES

Economy Recover is Expected to Drive Category Growth in terms of

Product Development as well as Consumer Spending Power
Other pet food is set to see stronger growth over the course of the forecast period in value
and volume terms. With the COVID-19 pandemic being declared over and with a projected
increase in tourism and other activity it is expected that the Vietnamese economy will start to
show signs of improvement as the forecast period progresses. This in turn should boost
consumer confidence and thus support demand for other pet food. The population of other pets
is also expected to keep rising, as birds and fish have their own characteristics which will help
maintain the interest of existing owners, as well as potentially attracting new owners. Birds and
fish are also seen to be relatively cheap and easy to keep compared to larger pets such as cats
and dogs.
Fish food is expected to remain the most dynamic category in other pet food over the forecast
period. This is mainly due to the fact that the pet fish population is expected to increase at a
faster rate than the pet bird population. Fish are increasingly preferred because they are
convenient and easy to keep at home in a house or apartment, or even in an office. Aquariums
are also increasingly included as part of a home’s interior design or utilised for feng shui
purposes. If placed in the right position, an aquarium is said to bring wealth to the family. Feng
shui also dictates the number of fish, colour of fish, water source, layout of the items in the tank,
as well as care of the fish, which is expected to help drive growth in fish food in the forecast
period. Nonetheless, bird food is still set to see stable growth, although sales of small
mammal/reptile food are likely to remain negligible.

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Small base of Existing Pet Owner and Distribution could be an

opportunity for growth
Other pet food is still mostly sold by pet shops that specialise in different types of pets, such
as bird shops or aquarium shops. It is still relatively unusual to see other pet food in general
retailing stores such as chained pet shops or supermarkets. As such, there is still potential for
the category to grow by increasing its distribution reach. In fact, as demand grows more
hypermarkets and supermarkets could look to increase their ranges of pet food to include bird
and fish food. There is also a growing trend towards one-stop shopping and therefore the ability
to buy these products alongside their weekly grocery shopping would likely be well received
Although retail e-commerce has been seeing strong growth in other pet food in Vietnam, and
this is expected to continue, its share of distribution in this category is likely to remain relatively
small. E-commerce is unlikely to replace traditional channels because other pet food is often
bought together with other pets in these outlets. In fact, people rarely buy fish and birds online,
instead visiting traditional pet shops such as aquarium shops for fish and bird shops for birds.
People also visit these pet shops to relax by taking the opportunity to look at the fish or to listen
to the birds sing. Pet shops is therefore expected to remain the key distribution channel for the
sale of other pet food in 2023 and beyond.

Competitive landscape likely to remain relatively stable despite constant

influx of new products
The existing leading brands within other pet food are expected to maintain their category
shares, benefiting on established distribution relationships and brand awareness to sustain
demand. Nonetheless, imported brands from markets such as China and Thailand are expected
to enter the market given the low barriers to entry and the growing demand for these products.
Whether these new brands can disrupt the market will likely largely depend on their product
quality, consumer preferences and marketing. Other pet food is nonetheless likely to remain a
relatively fragmented category over the forecast period outside of Vuong Viet Anh and Ba Vi in
bird food, and Sakura and KaoKui in fish food.
While other pet food should see solid growth due to the increasing population of birds and
fish, players are unlikely to significantly increase their investment in educating consumers about
their products due to the limited return on investment. Instead, most players will likely continue
to rely on in-store promotions and advertising to generate demand. Despite this, more players
are expected to enter the category over the forecast period as demand grows. As the category
grows it could potentially attract larger players which in turn could help shake up the competitive
landscape and help to increase demand. Over the forecast period, the existing players in other
pet food are expected to invest in expanding their offer and increasing their shelf presence in
retailers.

CATEGORY INDICATORS
Table 52 Other Pet Population 2018-2023

'000s of animals
2018 2019 2020 2021 2022 2023

Bird Population 1,668.0 1,709.7 1,745.6 1,772.0 1,795.0 1,816.6

Fish Population 12,207.0 13,000.4 13,910.4 14,745.1 15,556.0 16,380.5
Reptile Population - - - - - -

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Small Mammal Population - - - - - -

Other Pet Population 13,875.0 14,710.1 15,656.1 16,517.1 17,351.1 18,197.1
Source: Euromonitor International from official statistics

CATEGORY DATA
Table 53 Sales of Other Pet Food by Category: Volume 2018-2023

Tonnes
2018 2019 2020 2021 2022 2023

- Small Mammal/Reptile - - - - - -
Food
- Fish Food 294.8 314.9 324.3 335.7 349.1 364.8
- Bird Food 531.3 552.6 530.5 535.8 546.5 560.2
Other Pet Food 826.2 867.5 854.8 871.5 895.6 925.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 54 Sales of Other Pet Food by Category: Value 2018-2023

VND billion
2018 2019 2020 2021 2022 2023

- Small Mammal/Reptile - - - - - -
Food
- Fish Food 48.6 54.2 57.4 61.5 66.7 73.0
- Bird Food 22.8 24.2 23.7 24.2 25.8 27.9
Other Pet Food 71.4 78.3 81.1 85.6 92.5 100.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 55 Sales of Other Pet Food by Category: % Volume Growth 2018-2023

% volume growth
2022/23 2018-23 CAGR 2018/23 Total

- Small Mammal/Reptile Food - - -

- Fish Food 4.5 4.4 23.7
- Bird Food 2.5 1.1 5.4
Other Pet Food 3.3 2.3 12.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 56 Sales of Other Pet Food by Category: % Value Growth 2018-2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

- Small Mammal/Reptile Food - - -

- Fish Food 9.5 8.5 50.1

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- Bird Food 8.0 4.1 22.4

Other Pet Food 9.1 7.2 41.3
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 57 LBN Brand Shares of Bird Food: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

Vuong Viet Anh Vuong Viet Anh Co Ltd 45.2 42.4 41.2 39.8
Ba Vi Bavi Co Ltd 21.2 22.3 22.5 21.8
BGA Special Egg Cereal Botanical Garden - - - -
Association, Vietnam
Kim Anh Egg Cereal Kim Anh Bird Food Co - - - -
Minh Nguyen Minh Nguyen Co Ltd - - - -
Others Others 33.6 35.3 36.3 38.3
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 58 LBN Brand Shares of Fish Food: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

Sakura See-All Aquariums Co Ltd 35.6 35.5 34.4 33.1

KaoKui (Grobest Group) Grobest & I-mei 25.9 25.4 24.9 24.2
Industrial (Vietnam) Co Ltd
Azoo Tai Kong Corp 4.1 2.9 2.5 2.4
ARC Food ARC Co Ltd - - - -
Others Others 34.4 36.3 38.2 40.2
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 59 Distribution of Other Pet Food by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 97.0 96.9 97.4 97.7 97.6 97.5

- Retail Offline 95.0 94.8 94.8 94.2 93.1 91.9
-- Grocery Retailers 16.1 15.8 15.5 14.9 13.6 12.6
--- Convenience Retail - - - - - -
--- Discounters - - - - - -
--- Hypermarkets 1.9 1.7 1.8 1.9 1.5 1.3
--- Supermarkets 5.4 5.2 5.4 5.6 5.1 4.5
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 8.8 9.0 8.4 7.4 7.0 6.8
-- Non-Grocery Retailers 78.9 79.0 79.3 79.3 79.5 79.3
--- General Merchandise - - - - - -
Stores

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--- Apparel and - - - - - -

Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products 78.9 79.0 79.3 79.3 79.5 79.3
Specialists
---- Home Improvement - - - - - -
and Gardening Stores
---- Homewares and Home - - - - - -
Furnishing Stores
---- Pet Shops and 78.9 79.0 79.3 79.3 79.5 79.3
Superstores
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - -
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 2.0 2.1 2.7 3.5 4.5 5.6
Non-retail channels 3.0 3.1 2.6 2.3 2.4 2.5
- Veterinary clinics 3.0 3.1 2.6 2.3 2.4 2.5
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 60 Forecast Sales of Other Pet Food by Category: Volume 2023-2028

Tonnes
2023 2024 2025 2026 2027 2028

- Small Mammal/Reptile - - - - - -
Food
- Fish Food 364.8 383.1 404.9 430.8 461.4 497.4
- Bird Food 560.2 577.0 597.2 621.0 649.0 681.4
Other Pet Food 925.0 960.0 1,002.0 1,051.8 1,110.4 1,178.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 61 Forecast Sales of Other Pet Food by Category: Value 2023-2028

VND billion
2023 2024 2025 2026 2027 2028

- Small Mammal/Reptile - - - - - -
Food
- Fish Food 73.0 77.4 82.4 88.2 94.8 102.4
- Bird Food 27.9 29.2 30.6 32.3 34.2 36.5
Other Pet Food 100.9 106.6 113.0 120.5 129.0 138.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 62 Forecast Sales of Other Pet Food by Category: % Volume Growth 2023-2028

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% volume growth
2023/24 2023-28 CAGR 2023/28 Total

- Small Mammal/Reptile Food - - -

- Fish Food 5.0 6.4 36.3
- Bird Food 3.0 4.0 21.7
Other Pet Food 3.8 5.0 27.4
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 63 Forecast Sales of Other Pet Food by Category: % Value Growth 2023-2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

- Small Mammal/Reptile Food - - -

- Fish Food 6.0 7.0 40.2
- Bird Food 4.5 5.5 30.7
Other Pet Food 5.6 6.6 37.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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PET PRODUCTS IN VIETNAM -

CATEGORY ANALYSIS
KEY DATA FINDINGS

▪ Retail value sales grow by 12% in current terms in 2023 to VND385 billion
▪ Pet healthcare is the best performing category in 2023, with retail value sales increasing by
14% in current terms to VND70.2 billion
▪ Hoang Anh Co Ltd is the leading player in 2022, with a retail value share of 12%
▪ Retail sales are set to grow at a current value CAGR of 13% (2023 constant value CAGR of
8%) over the forecast period to VND694 billion

2023 DEVELOPMENTS

Pet products seeing stronger growth despite economic pressures

Pet products saw a slight downturn in demand during 2020 and 2021, as some low- and mid-
income consumers reduced their spending on non-essential items due to the economic impact
of the pandemic on their disposable incomes. However, thanks to a successful vaccination
campaign there were signs of improvement in the economy in 2022 as tourism picked up and
there was an increase in economic activity, all of which boosted demand for pet products. While
the country has seen elevated inflation it has not been as dramatic as in some other markets
and as such there have been signs of improved consumer confidence, with this encouraging
spending on non-essential items, including pet products.
The strong performance of pet products also goes in tandem with the constantly expanding
pet population, which continues to rise at a strong pace. Added to this the pet humanisation
trend is also having a growing influence on demand with consumers increasingly looking to not
only improve the health of their pet companions but also their happiness, with this encouraging
consumers to invest in toys and games and even pet furniture such as beds and scratching
posts, for example.

Pet healthcare seeing dynamic growth as product awareness grows

Pet healthcare continues to see dynamic growth in current value terms in Vietnam in 2023.
The main contributor to sales in pet healthcare is antiparasitic products such as flea/tick
treatments. Demand for these products is growing as consumers become better informed about
the importance of these products in keeping their pets healthy. Parasites such as ticks, fleas
and sandfly are relatively common in Vietnam and can lead to the transmission of diseases such
as Leishmania which can be potentially fatal to pets. As awareness grows around these issues
consumers are becoming increasingly willing to invest in pet healthcare products that can
prevent them.
Besides flea/tick treatments, there are also pet products for dental care, ear care and dietary
supplements. These products are more recent additions to the market and as such are a relative
niche. Nonetheless, they are attracting new players and brands that are looking to gain first-
mover advantage over the competition. As interest in pet healthcare grows so too does the
distribution of these products, with retailers looking to provide convenience to pet owners. This
includes the expansion of retail e-commerce, with the online channel seeing its value share

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within pet products increase significantly since the start of the pandemic. E-commerce has also
helped smaller players to get a foot in the market, as well as making it easier for pet owners to
research different products.

Competitive landscape remains fragmented due to the wide selection of

pet products on offer and the limited brand loyalty
Pet products is a highly fragmented area of pet care due to the wide range of different
products that fall under this category ranging from pet healthcare and cat litter to other pet
products such as toys, games, leashes, aquariums, pet furniture, among many other items.
Nonetheless, Hoang Anh Co Ltd remained the overall leader in pet products in value terms in
2022, mainly due to the combined popularity of its brands Fay and Palma in pet healthcare,
although Fay also has a presence in other pet products. The company’s extensive distribution
network means that its products are sold in hypermarkets, supermarkets, pet shops and pet
superstores throughout Vietnam. This has given Hoang Anh a major advantage over its
competitors, most of which distribute their brands exclusively through pet shops or veterinary
clinics. Moreover, Hoang Anh is actively engaged in efforts to maintain affordable prices, which
has broadened its appeal. Elsewhere, Mars Inc has a strong lead in cat litter with its Catsan
brand, with the company able to benefit from the established distribution network for its range of
pet food. There is, however, a limited presence of major players in the market, with the relatively
low level sales being insufficient to attract significant interest.
As such, the competitive landscape within pet products is becoming increasingly fragmented,
with most brands lacking the financial muscle to be able to invest in significant marketing
activities. Pet products are often extended under their umbrella brands so they can leverage the
marketing activities of the main brand. For example Me-O from Perfect Companion (Vietnam)
has a presence in cat litter, with it taking advantage of its well-known name in dry cat food, wet
cat food and cat treats and mixers. However, pet products is in the development stage in
Vietnam, with many customers being more concerned about learning the product’s functions
rather than caring too much about brand image. Instead, purchasing decisions are still strongly
influenced by suggestions from sales staff in pet shops, or recommendations from veterinarians
on which pet healthcare products to buy.

PROSPECTS AND OPPORTUNITIES

Economic recovery should fuel stronger growth with the category also
set to benefit from the entry of more products
Pet products is projected to see healthy growth over the forecast period, supported by various
factors including an expected improvement in the economy. With the COVID-19 pandemic at an
end and with economic activity increasing this should help to boost consumer confidence. This
in turn should support spending on non-essentials within pet products such as toys and beauty
products. Meanwhile, the pet population is also set to continue growing in Vietnam, with a
further increase in the numbers of all types of pets. In addition, more players are expected to
join the category, which will bring more choice and help to stimulate the competition. Therefore,
pet products is expected to develop to a higher level, with pet owners becoming more
knowledgeable and more sophisticated in their purchases.
In the past, dogs and cats were regarded as dirty and untameable, and unsuitable for human
companionship. However, these perceptions are changing, especially amongst younger people,
with growth in the cat population in particular helping to boost sales of pet products. The
pandemic also resulted in a rise in the number of people suffering from loneliness, some of

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whom saw pets as suitable companions. This helped to accelerate the pet humanisation trend
and should thus fuel growth in pet products which can help cement the bond between pets and
their owners.
Alongside cats and dogs a growing number of people have also started to keep birds and fish,
with this presenting opportunities for players to launch new products targeting this audience.
Concerns about diseases and sanitation still exist, however, with concerns about rabies and pet
allergies common amongst some Vietnamese people. Nevertheless, rising disposable incomes
and better living standards are making people more inclined to be charitable towards animals,
resulting in more humane behaviours, with this promoted by the passing of new breeding laws
earlier in the review period. This changing attitude to keeping pets is also expected to contribute
to growth in the forecast period, as consumers become more willing to invest in the health and
wellbeing of their pets.

Distribution expansion seen as A key strategy for winning share

Due to relatively small size of the category and the lack of investment in marketing, the main
players in pet products will likely focus on increasing and expanding their distribution reach over
the forecast period, with this being seen as key to growth. The smallest players, included under
“others,” still accounted for three quarters of value sales within pet products in 2022, with most
having very limited distribution.
The development of wider distribution networks is therefore expected to be a major source of
growth for brands moving forward. For example, looking to tap into the pet humanisation trend
some larger players could look to increase their distribution in major supermarkets and
hypermarkets in urban areas to encourage impulse purchases of products such as dog toys and
beds. Those that succeed in this endeavour could improve their positions in the competitive
landscape in the forecast period as well as starting to establish some form of brand loyalty,
which so far is largely absent in pet products. The internet is also likely to play a greater role in
pet products, not only in terms of driving sales through e-commerce but also in terms of digital
marketing, with social media platforms presenting opportunities for brands to build engagement
and trust with pet owners.

Rising pet population alongside pet humanisation likely to be A key

growth catalyst
Consumers in Vietnam are leading faster and busier lifestyles, especially in urban areas, and
this is encouraging more people to look for pets as companions. Moreover, as people
increasingly see their pets as companions or even as family members they are becoming
increasingly willing to take care of their pets with functional nutrition, pet healthcare or trendy
clothes accessories.
The pet humanisation trend has played a key role in driving the development of pet care in
many global markets, but it remains at the early stages of development in Vietnam. In the past
animals such as cats and dogs were often seen as working animals or even as a source of food,
but these attitudes are changing with people increasingly viewing their pets as companions. This
trend is being supported by the rise of social media with consumers often keen to show off
photos and videos of their pets online. Furthermore, the internet has also helped people to see
the benefits of pet ownership, as well as showing how to take care of your pets in the best
possible way.
This shift in attitudes is crucial to the expansion of pet products as it should encourage
consumers to invest in a wider array of products such as pet carriers, toys, beds, grooming
products and dietary supplements. Pet healthcare will likely remain the key category with these
products seen as more essential, with products such as flea/tick treatments and worming

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treatments not only protecting pets but also preventing additional veterinary costs. With the
number of veterinary clinics in Vietnam almost doubling since the start of the review period this
reflects the increasing importance being placed on pet health and also points towards the strong
potential of pet healthcare.

CATEGORY DATA
Table 64 Sales of Pet Products by Category: Value 2018-2023

VND billion
2018 2019 2020 2021 2022 2023

Other Pet Products 190.8 209.4 227.8 249.1 275.0 305.2

Pet Healthcare 39.1 43.5 47.4 53.6 61.6 70.2
Cat Litter 5.8 6.5 7.2 7.9 8.7 9.6
Pet Products 235.7 259.4 282.4 310.5 345.3 385.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 65 Sales of Pet Products by Category: % Value Growth 2018-2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

Other Pet Products 11.0 9.9 60.0

Pet Healthcare 14.0 12.4 79.7
Cat Litter 11.0 10.5 64.7
Pet Products 11.5 10.3 63.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 66 Sales of Pet Healthcare by Type: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Flea/Tick Treatments 77.0 74.0 72.0 71.0 70.0 70.3

Pet dietary supplements 3.5 4.0 5.0 6.0 7.0 6.8
Worming Treatments 11.2 12.0 13.0 13.5 14.0 14.3
Other Products 8.3 10.0 10.0 9.5 9.0 8.6
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 67 Sales of Other Pet Products by Type: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Beauty Products 37.8 37.3 36.4 35.6 35.0 34.8

Accessories 26.1 26.4 27.0 27.5 27.9 28.0
Other 36.1 36.3 36.6 36.9 37.1 37.3

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Total 100.0 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 68 NBO Company Shares of Pet Products: % Value 2018-2022

% retail value rsp

Company 2018 2019 2020 2021 2022

Hoang Anh Co Ltd 14.9 14.4 13.6 12.8 12.0

Boehringer Ingelheim 4.3 4.4 4.5 4.7 5.0
Vietnam LLC
Virbac Vietnam Co Ltd 2.6 2.7 2.8 2.9 3.0
JBL GmbH & Co KG 3.1 3.1 3.0 2.8 2.7
Sera GmbH 1.8 1.8 1.7 1.6 1.5
Mars Inc 0.9 0.9 0.9 0.8 0.8
City Zoo Co Ltd 0.7 0.7 0.5 0.4 0.3
Perfect Companion 0.2 0.2 0.2 0.2 0.2
(Vietnam) Co Ltd
Others 71.3 71.8 72.9 73.7 74.5
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 69 LBN Brand Shares of Pet Products: % Value 2019-2022

% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022

Fay Hoang Anh Co Ltd 11.9 11.2 10.6 9.9

Merial (Boehringer Boehringer Ingelheim 4.4 4.5 4.7 5.0
Ingelheim GmbH) Vietnam LLC
Virbac (Virbac SA) Virbac Vietnam Co Ltd 2.7 2.8 2.9 3.0
JBL JBL GmbH & Co KG 3.1 3.0 2.8 2.7
Palma Hoang Anh Co Ltd 2.6 2.4 2.2 2.1
Sera Sera GmbH 1.8 1.7 1.6 1.5
Catsan Mars Inc 0.9 0.9 0.8 0.8
City Zoo City Zoo Co Ltd 0.7 0.5 0.4 0.3
Me-O (Charoen Perfect Companion 0.2 0.2 0.2 0.2
Pokphand Group) (Vietnam) Co Ltd
Merial (Sanofi) Boehringer Ingelheim - - - -
Vietnam LLC
Others Others 71.8 72.9 73.7 74.5
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 70 Distribution of Pet Products by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 91.6 91.6 92.5 93.1 92.5 91.9

- Retail Offline 90.3 90.1 90.5 90.4 87.9 86.1
-- Grocery Retailers 5.2 5.4 5.8 6.6 7.0 7.3

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PET CARE IN VIETNAM Passport 45

--- Convenience Retail - - - - - -

--- Discounters - - - - - -
--- Hypermarkets 2.5 2.6 2.8 3.0 3.1 3.2
--- Supermarkets 2.7 2.8 3.1 3.5 3.9 4.1
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers - - - - - -
-- Non-Grocery Retailers 85.0 84.7 84.6 83.9 80.9 78.8
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products 85.0 84.7 84.6 83.9 80.9 78.8
Specialists
---- Home Improvement - - - - - -
and Gardening Stores
---- Homewares and Home - - - - - -
Furnishing Stores
---- Pet Shops and 85.0 84.7 84.6 83.9 80.9 78.8
Superstores
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - 0.0
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 1.3 1.5 2.0 2.7 4.6 5.8
Non-retail channels 8.4 8.4 7.5 6.9 7.5 8.1
- Veterinary clinics 8.4 8.4 7.5 6.9 7.5 8.1
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 71 Forecast Sales of Pet Products by Category: Value 2023-2028

VND billion
2023 2024 2025 2026 2027 2028

Other Pet Products 305.2 327.8 353.4 382.4 415.2 452.6

Pet Healthcare 70.2 76.9 83.8 91.0 98.2 105.6
Cat Litter 9.6 10.4 11.2 12.1 13.1 14.2
Pet Products 385.1 415.1 448.4 485.4 526.5 572.4
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 72 Forecast Sales of Pet Products by Category: % Value Growth 2023-2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

Other Pet Products 7.4 8.2 48.3

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Pet Healthcare 9.5 8.5 50.3

Cat Litter 7.5 8.0 47.2
Pet Products 7.8 8.2 48.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

© Euromonitor International