Singapore is witnessing one of the most fast-growing pet industries around the globe. The pet population is steadily increasing over recent years, driving growing sales in pet food and pet supplies. Petionship is putting together an overview of the pet industry in Singapore.
Pet Population in Singapore
According to Pet Fair South-East Asia’s latest statistics In Singapore, the dog and cat population have increased by CAGRs of 1.9% and 7.3% respectively from 2016 to 2020. Showing a higher growth in cat population. Both are expected to grow to 1.3 million (cat) and 465,000 (dog) by 2025. This is due to the fact that cats require less space and Singapore is quite a small country.
Singapore experienced cat ownership growth bigger than that of dog ownership in 2020, at a CAGR of 3.5% (2.1% for dogs) from 2016 to 2020, with 43.5 thousand owning cats in 2016 in comparison with 50.0 thousand in 2020. The percentage of households owning dogs has remained steady at 5.3% from 2016 to 2020, while the percentage of households owning cats increased slightly to 2.8% in 2020 from 2.6% in 2016.
Pet Food Market in Singapore
Pet food is the largest segment in the pet industry in Singapore. According to Statista, revenue in the pet food segment in Singapore amounts to US$126.30m in 2022. The market is expected to grow annually by 5.63% (CAGR 2022-2027). In relation to total population figures, per person revenues of US$21.25 are generated in 2022. The total pet food volume is expected to amount to 50.1mkg by 2027, expected to show a volume growth of 3.5% in 2023. And the average volume per person in the pet food segment is expected to amount to 6.9kg in 2022.
From 2016 to 2020, dog food sales experienced a steady increase, from US$48.8 million to US$56.9 million, with a CAGR of 3.9%. Dry dog food accounted for 68.0% of total dog food sales in 2020.
Premium-priced dry dog food was the strongest driver of overall dog food value sales. Premium-priced dry dog food, which represented 87.3% of total dry dog food sales in 2020, had strong growth from 2016 to 2020 and is expected to continue this trend from 2021 to 2025. In the coming years, innovative pet humanization trends such as insect- and plant-based protein are expected to lead the dog food market in Singapore. Manufacturers will seek to launch more functional and natural dog food to meet dog owners’ desires (Euromonitor, 2020).
Cat food grew significantly from 2016 to 2020, at a CAGR of 11.6%, and is forecast to grow at a CAGR of 4.0% between 2021 and 2025. Dry cat food accounted for 29.0% of the cat food sales in 2020 and recorded a CAGR of 5.4% from 2016 to 2020. Premium dry cat food had the highest growth in the dry cat food category, with a CAGR of 8.4%, from 2016 to 2020 and is forecast to take the lead (CAGR of 3.3%) from 2021 to 2025.
Wet cat food accounted for 52.1% of the cat food sales in 2020. Wet cat food sales were stimulated by higher demand for functional and natural products (Euromonitor, 2020). Cat treats and mixers recorded a CAGR of 20.5% from 2016 to 2020 and is expected to grow at a CAGR of 7.0% from 2021 to 2025.
Pet Supplies Distribution Channels in Singapore
In 2020, grocery retailers (22.4%) and non-grocery specialists such as pet shops (51.7%) sold most of the pet products in Singapore. Pet shops remained the dominant sale distribution channel for dog and cat food. E-commerce won share from pet shops and supermarkets, with a CAGR of 26.0% from 2016 to 2020.
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