The Saigon Convention and Exhibition Center in Ho Chi Minh City, Vietnam, will usher in a grand pet industry event from March 27 to 29, 2024 - Petfair Vietnam, the Vietnam International Pet Products Exhibition. This exhibition not only brings new development opportunities to the pet industry in Southeast Asia, but also becomes an important platform to connect pet industry professionals around the world.
The PV exhibition brings together more than 200 exhibitors from more than 10 countries, attracting more than 2,500 professional visitors and more than 5,000 tourists. The successful holding of the exhibition marks the huge potential of Vietnam's pet products market and its openness to international cooperation, laying a solid foundation for promoting the progress and cooperation of the entire Southeast Asian pet industry.
As an important event in the pet industry in Southeast Asia, the PV exhibition not only displays the latest pet products and technologies, but also provides a communication and learning platform for exhibitors and professional visitors. Here, exhibitors have the opportunity to showcase their innovative products, and professional visitors can learn about the latest developments and development trends in the industry, and jointly discuss how to take advantage of the rapid growth potential of the Southeast Asian market.
According to statistics, the compound annual growth rate of the Southeast Asian pet food market is expected to reach 8.38% between 2023 and 2028. As the main driving force of this growth, Vietnam's pet products manufacturing exports are also rising. Data from the International Trade Center shows that the United States, China and Cambodia are the main importers of Vietnamese pet food, and cooperation with international manufacturers such as Japan's Hotta and the United States' RefinedKind Pet Products has promoted the internationalization process of Vietnam's pet products.
In 2020, the export value of Vietnam's pet food market has increased from US$29.6 million in 2016 to US$54.5 million, and is expected to reach US$92.4 million by 2025. This growth is not only due to the strong performance of the dog food market, accounting for 57.6%, but also due to the stable growth of the cat food market, accounting for 35.6% of the market share. In addition, the distribution channels of Vietnam's pet food market also show a trend of diversification, with pet specialty stores ranking first with a share of 72.8%, non-retail channels and veterinary clinics tied for second, and although e-commerce channels only accounted for 3.1%, But its growth potential cannot be ignored.
PV exhibition provides unique advantages to exhibitors and visitors. First, exhibitors have direct access to more than 45 million pet lovers in Vietnam. Secondly, through the exhibition, exhibitors and professional visitors can establish connections with associations, governments, media and influential companies to form strategic cooperation, increase product display and brand exposure, and enhance brand influence. Finally, through the exhibition, exhibitors can gain an in-depth understanding of the Vietnamese pet market and collect consumer preferences, competitive product information and emerging trends for customizing and upgrading products or services.
In short, the Vietnam International Pet Products Exhibition not only provides a platform for exhibitors and professional visitors to display and learn, but also injects new vitality into the development of the pet industry in Southeast Asia. As the Vietnamese pet market continues to mature and internationalize, the PV exhibition is expected to become a benchmark for the pet industry in Vietnam and even Southeast Asia, leading the industry to a more prosperous future.
