Indonesia Pet Care Market to Reach $5,372.8 Million by 2032 – Full IMF Research Report

Indonesian pet care market

NEWARK, NEWARK, UNITED STATES OF AMERICA, April 28, 2022 /EINPresswire.com/ — According to Future Market Insights (IMF), Indonesian pet care market is expected to exceed a valuation of US$5,372.8 million at a CAGR of over ~9.9% through 2032.

Pet humanization is a growing trend where owners treat their pets like members of their family. One of the key factors increasing the demand for luxury products in the market is the humanization of pets.

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Other factors such as increasing rate of pet adoption coupled with rising per capita spending on pets are driving the demand for luxury pet products and services. As pets are treated as part of the family, pet owners take care of their pets the same way parents take care of their children in a family.

Pet owners are very serious about their responsibilities to their pets. This encourages pet owners to invest heavily in spending on the welfare of their pets and are willing to spend more on luxuries.

They also spend on luxuries and necessities such as pet clothes, beds, medications, grooming services, and other veterinary services. This is one of the major factors driving the demand for luxury pet products in the Indonesian pet care market.

Key Insights from the Pet Care Market Research in Indonesia

In terms of service, pet food is expected to hold a notable revenue share over the forecast period.

Based on professional service, the grooming boarding segment is expected to experience robust growth over the assessment period

Veterinary care segment is expected to account for maximum share during the forecast period

By service channel, e-retail segment will dominate the market owing to increasing penetration of e-commerce industry

By pet type, cats are expected to account for the lion’s share of the global market during the forecast period

“Rising acceptance of technologically advanced automatic pet care, rising spending on pets coupled with growing adoption of dogs and cats will increase market revenue,” says an IMF analyst.

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Impact of COVID-19 on the Indonesia Pet Care Market

Indonesia is one of the rapidly emerging South Asian economies, and growth is fueled by rapidly increasing urbanization and industrial rates. This demographic shift is critical to the future growth of the pet food market.

Pet ownership is on the rise among millennials around the world. According to the Indonesian Pet Food Association, the sector is growing at a rate of 20% per year, with Java accounting for 60% of the market, home to the capital Jakarta and other major cities.

The COVID-19 pandemic has contributed to the increase in the number of pet adoptions, as people believe that pets could be their companions while at home. Moreover, the presence of pets not only reduces loneliness and boredom, but also improves mental and physical health.

Who wins?

The major players present in the pet care market are MSD Animal Health, Mars Incorporated, HAPPY PET Investment Holding GmbH, PT. NUTRICELL PACIFIC, Colgate-Palmolive Company, JM Sucker Co., Nestle SA, PT Central Proteina Prima Tbk, Groovy Vetcare Clinic, Bali Pet Shop PT, KW Aquatic Supplies Sdn Bhd, PT Citra Mandiri Kencana and Menara Petskita Indonesia, among others.

Get more valuable insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Indonesia Pet Care Market, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study discloses compelling insights on the Indonesia Pet Care Market based on Service (Product {Pet Food, Pet Health Care, Fashion, Toys & Accessories}), Professional Service {Day Care , grooming boarding, pet breeding and training} value added services {insurance, veterinary care, pharmacy, adoption and charity, emergency rescue service}) type of pets (dogs, cats, birds, fish and reptiles, small pets and horses and other farm animals), service channel (modern commerce, convenience stores, care service centers, veterinary clinics, online retailers, supportive care centers and pet specialty stores of company.

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About Future Market Insights (IMF)

Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

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