Singapore holds a culturally various inhabitants with a excessive per capita earnings, however little land for agriculture. Singapore imports greater than 90% of its meals, together with pet meals, from a spread of different nations, in accordance to a report from the United States Division of Agriculture’s Overseas Agricultural Service. Since 2004, the U.S. and Singapore have held a free commerce settlement, resulting in Singapore turning into a developed marketplace for U.S. agricultural merchandise, together with canine, cat and different pet meals.
In 2022, the USA exported a report US$15.9 million in canine and cat meals merchandise to Singapore, up 17% from the earlier 12 months. U.S. pet meals manufacturers have s 23% market share in Singapore, second solely to Thailand. Total, Singapore imported US$69.2 million in canine and cat meals merchandise kind numerous nations in 2022. That determine elevated from US$43.7 million in 2018. Cat meals retail gross sales worth was anticipated to develop 7% in 2023. Likewise, the retail worth of pet food gross sales was forecast to develop roughly 6% in 2023. Whereas greater than 20 pet food firms function in Singapore, no firm holds extra than 8% of gross sales. Nonetheless, the cat meals market is much less aggressive.
Cats inhabitants and cat meals rising in Asia
In Asia cats started to outnumber canine in 2021, mentioned Matthias Koch, founder and managing director of Anibene and opening speaker for Petfood Discussion board Asia 2023 in Bangkok on October 25. Pushed by the pandemic, then rising urbanization and subsequent strikes of extra folks into smaller properties, cats started to realize favor as pets, whereas populations of medium to massive canine have remained flat or began to say no in some Asian nations, reported Petfood Business’s Debbie Phillips-Donaldson.
A higher variety of cats owned results in greater cat meals gross sales, together with progress in premium cat meals, relying available on the market. Pet meals premiumization has began to hit a ceiling in Asia on account of inflation, Koch mentioned, and financial system and mid-priced cat and canine meals have their place in some nations, particularly ones with smaller pet meals markets.
