Pets have always been pets for me; a companion animal, a friend who’s always welcoming, an intent listener, even a kisser (well, i have trained my lab to kiss me upon request) and more. Never did i viewed any other way, more so as an industry sector, until lately, when i did an industry study on companion animals for a client.
Who would ever thought that the companion animal industry, mainly dogs and cats:
*is a $ 13.37 billion industry globally (by 2019) comprised of services, drugs and ethical healthcare, pet food, other supplies (toys, health/grooming, etc)
- is a $ hundred million industry (pet care alone) for Southeast Asia of which about 9 percent is accounted for by Philippines.
*is a $60million dollar feed industry in the Philippines with the US and Europe as key players.
Owning cats is not that much common in the Philippines, although cat ownership is on the rise. However, Filipinos love dogs, in fact, Philippines has the highest dog population in Southeast Asia, that is 122 dogs/1,000 population. But preference in the country, is more of the small dogs, unlike in Saudi Arabia, Egypt, Indonesia, USA and UAE, the top 5 countries with the highest big dog population.
Those who raised companion animals are either pet parents or pet owners. The pet parents are willing to spend on their pets as if they are part of the family, while the pet owners though keeping a number of pets in the households, are lacking in financial resources to spend on them.
Have you ever noticed the sprouting of pet cafes, where you can pat and play with dogs and cats, or simply be in their company while reviewing for exams or reading a book or what ever. Or where pet owners hold parties on their pets’ birthdays, with pets of friends as guests. .
Well this humanization of animals and premiunization of their needs, which in addition to increases in purchasing power are the very drivers of the growth and development of the companion animal industry. To some it is really an act of love and devotion to their pets, to others, it is simply for status symbol, the in thing to do. Whichever the case, it adds to a booming companion animal industry.
Really there is more than meets the eye about our friendly furs and paws.