Thailand Pet Economy Projected to Reach 100 Billion Baht in 2026 as Pet Food Accounts for 68% of the Market
Executive Summary: Thailand’s pet-related industry is projected to reach THB 100 billion (USD 3.03 billion) in 2026, growing at a 19.7 percent compound annual rate since 2019, according to Krungsri Research and LH Bank Business Research. Pet food dominates the market with a 68 percent share, projected at THB 62.4 billion (USD 1.89 billion). The country’s owned dog and cat population is forecast to reach 7.28 million, with cats growing at 17.2 percent annually. The data underscores Thailand’s position as the world’s second-largest pet food exporter after Germany.
Key Facts
- Country
- Thailand
- Industry
- Pet industry (food, accessories, healthcare, services)
- Category
- Market data / industry forecast
- Event
- 2026 market projection reaching THB 100 billion
- Date
- 2026-09-04 (published)
- Location
- Thailand (Krungsri Research / LH Bank Business Research)
- Source
- eFeedLink / Krungsri Research / LH Bank Business Research
What Happened
Research from Krungsri Research and LH Bank Business Research, published by eFeedLink on September 4, 2026, projects Thailand’s pet-related industry will reach THB 100 billion (USD 3.03 billion) in 2026, up from THB 33 billion (USD 1.0 billion) in 2019, representing a compound annual growth rate of 19.7 percent over seven years. The market reached THB 81 billion (USD 2.45 billion) in 2024 and was forecast at THB 92 billion (USD 2.79 billion) for 2025.
Pet food remains the dominant segment, accounting for an estimated 68.0 percent of the industry in 2025 and projected to reach THB 62,410 million (USD 1.89 billion) in 2026, up from THB 20,340 million (USD 616 million) in 2019. Pet accessories hold the second-largest share at 23.2 percent (THB 21,280 million / USD 645 million), followed by pet healthcare at 7.6 percent (THB 6,990 million / USD 212 million) and pet care services at 1.1 percent (THB 1,040 million / USD 31.5 million).
Background
Thailand has built one of the world’s most concentrated pet food manufacturing bases, leveraging its established tuna canning industry, poultry production, and stringent food safety standards. The country is the world’s second-largest pet food exporter after Germany, with annual export value exceeding USD 3 billion. Thai processors use local marine protein networks and poultry supply chains to produce human-grade wet cat and dog food for global brands.
The growth is driven by two converging trends: rising domestic cat ownership and the broader pet humanization movement. Thailand’s owned dog and cat population is projected to grow from 4.68 million in 2022 to 7.28 million in 2026, an 11.7 percent CAGR, according to data from the country’s Rabies Surveillance Command Center. Cats are growing fastest, at 17.2 percent annually, from 1.44 million to a projected 2.71 million, while dogs are growing at 8.9 percent, from 3.24 million to 4.57 million.
Industry Context
The Thailand data arrives alongside Nestle Purina’s THB 6.4 billion investment to expand pet food production at Amata City Rayong, approved by the Board of Investment on September 3, 2026. That project covers THB 4.5 billion for pet food production and THB 1.93 billion for pet treat production, with more than 90 percent of output intended for export to the United States, Canada, Japan, Australia, and New Zealand.
The BOI states that Thailand’s pet food industry has been growing at more than 8 percent annually. Nestle’s investment, combined with a separate THB 23 billion coffee factory project, brings the company’s 2026 Thailand investment total to more than THB 29 billion. The expansion uses local raw materials worth over THB 4.7 billion annually, including chicken, fish, vegetables, and agricultural inputs, linking pet food manufacturing to Thailand’s broader agricultural economy.
Globally, the pet food market is experiencing a shift toward premium and functional nutrition. Food innovation trends driving the Thai category include human-grade nutrition free of animal by-products, functional and therapeutic diets such as single-protein formulas for allergy management, and lifestyle-specific formulas for small breeds, indoor pets, and ageing animals.
Market & Business Impact
Thailand reaching the THB 100 billion milestone reinforces its position as a critical node in the global pet food supply chain. For multinational brands like Nestle Purina, Mars, and Royal Canin, the country offers a combination of raw material availability, established manufacturing infrastructure, and export-friendly trade policies that few other markets can match.
The 19.7 percent CAGR since 2019 significantly outpaces global pet market growth rates of 4 to 6 percent, suggesting that Thailand is gaining share in both domestic consumption and export production. The spending gap between casual pet owners (THB 7,910 per animal per year) and humanization-driven owners (THB 50,500 per animal per year) indicates a 6.4x spending differential, pointing to substantial headroom for premium product expansion as more Thai pet owners shift toward family-member treatment of their pets.
Pet care services, while still only 1.1 percent of the market, posted 15.0 percent year-on-year growth, the second-fastest rate after pet food. Growth in grooming, boarding, and pet-friendly travel services signals that the domestic market is maturing beyond food into the service economy stage seen in more developed pet markets.
Companies & Brands Involved
Nestle Purina (Felix, Pro Plan, Friskies, Purina One) is the most active multinational investor in Thailand’s pet food manufacturing sector, with THB 6.4 billion approved in September 2026. Other global brands manufacturing in or sourcing from Thailand include Mars Royal Canin and various private label producers. Krungsri Research (a Bank of Ayudhya research unit) and LH Bank Business Research are the data sources. The Thailand Board of Investment (BOI) is the approving authority for foreign investment projects.
Data & Evidence
- 2026 industry projection: THB 100 billion (USD 3.03 billion), up 19.7% CAGR from THB 33 billion in 2019
- 2024 actual: THB 81 billion (USD 2.45 billion); 2025 forecast: THB 92 billion (USD 2.79 billion)
- Pet food segment 2026: THB 62,410 million (USD 1.89 billion), 68.0% market share
- Pet accessories: THB 21,280 million (USD 645 million), 23.2% share
- Pet healthcare: THB 6,990 million (USD 212 million), 7.6% share
- Pet care services: THB 1,040 million (USD 31.5 million), 1.1% share, 15.0% YoY growth
- Pet population 2026: 7.28 million (cats 2.71M at 17.2% CAGR; dogs 4.57M at 8.9% CAGR)
- Casual owner spend: THB 7,910/animal/year; humanization owner: THB 50,500/animal/year
- Nestle Purina investment: THB 6.4 billion (pet food THB 4.5B + treats THB 1.93B)
- Export orientation: 90%+ of new capacity, markets include US, Canada, Japan, Australia, NZ
- Source: Krungsri Research / LH Bank Business Research via eFeedLink, September 4, 2026
What This Means for the Pet Industry
Thailand reaching THB 100 billion in pet industry value at a 19.7 percent CAGR is not just a domestic milestone; it confirms that Southeast Asia is becoming a second center of gravity for global pet food manufacturing, alongside North America and Europe. For B2B buyers and distributors worldwide, Thai pet food exports offer a cost-competitive, quality-certified alternative to Western production. The 6.4x spending gap between casual and humanization-driven owners tells us that Thailand’s domestic market has barely begun its premiumization curve. As more Thai pet owners shift to family-member treatment, expect rapid growth in premium wet food, therapeutic diets, and pet services, following the trajectory already seen in China and South Korea.
Key Takeaways
- Thailand’s pet industry is projected to reach THB 100 billion (USD 3.03 billion) in 2026, growing at a 19.7% CAGR since 2019, with pet food accounting for 68% of the market.
- The country’s pet population is forecast at 7.28 million dogs and cats in 2026, with cats growing at 17.2% annually, the fastest rate in the region.
- Pet food reaches THB 62.4 billion (USD 1.89 billion), while pet care services post 15% YoY growth, the second-fastest segment after pet food.
- The spending gap between casual owners (THB 7,910/animal/year) and humanization-driven owners (THB 50,500) signals a 6.4x differential with substantial premium growth headroom.
- Nestle Purina’s concurrent THB 6.4 billion investment reinforces Thailand’s role as the world’s second-largest pet food exporter, with 90%+ of new capacity targeting export markets.
Frequently Asked Questions
What happened?
Research from Krungsri Research and LH Bank Business Research projects Thailand’s pet industry will reach THB 100 billion (USD 3.03 billion) in 2026, with pet food accounting for 68 percent of the market at THB 62.4 billion.
Which market is involved?
Thailand’s domestic pet industry, encompassing pet food, pet accessories, pet healthcare, and pet care services. Thailand is also the world’s second-largest pet food exporter after Germany.
Where is this growth concentrated?
Growth is driven by rising domestic cat ownership (17.2% CAGR) and pet humanization trends, with manufacturing concentrated in industrial estates like Amata City Rayong where Nestle Purina is investing THB 6.4 billion.
Why is this important for the pet industry?
Thailand’s 19.7% CAGR significantly outpaces global pet market growth rates, confirming Southeast Asia as a second center of gravity for global pet food manufacturing alongside North America and Europe.
What pet industry segment is most affected?
Pet food manufacturing and exports are most directly affected, but the 6.4x spending gap between casual and humanization-driven owners signals substantial premium growth headroom across all segments.
Sources
- Primary — eFeedLink / Krungsri Research / LH Bank Business Research, https://www.efeedlink.com/articles/thailands-pet-economy-set-to-reach-100-billion-in-2026-as-pet-food-leads-growth, September 4, 2026
- Secondary — Thailand Board of Investment (BOI) announcement on Nestle Purina investment, September 3, 2026
- Secondary — Thailand Rabies Surveillance Command Center (pet population data)
