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| Experts speak at the workshop (Photo: VNA) |
Ho Chi Minh City (VNA) - No longer a niche segment, Vietnam’s pet care services ecosystem is emerging as a lucrative playground for investors, experts told a workshop run by Minh Vi Exhibition & Advertisement Services Company (VEAS) in Ho Chi Minh City on April 22.
Diep Ngoc Truc, Chairwoman of the Vietnam Small Animal Veterinary Association, said the domestic pet industry is entering a phase of robust growth, marked by positive indicators and fast-changing consumer behaviour. By 2027, the country is expected to have around 16 million pets, opening the door for a wide range of related services. The pet food market alone is forecast to surpass 222 million USD by 2029, growing at a compound annual growth rate of about 9.4%.
A notable shift is underway in how pet owners view their animals. Pets are increasingly treated as full family members rather than mere animals kept for basic needs. This change is fueling demand for comprehensive care services, including premium nutrition, healthcare, grooming, and lifestyle.
The trend is reshaping the retail landscape in the pet sector. Companies are moving beyond simple product sales to build integrated care ecosystems focused on customer experience. To succeed, they must adopt flexible omni-channel strategies and deliver personalised services to build trust and foster long-term customer loyalty.
Ho Mong Hai from the Department of Livestock Production and Animal Health under the Ministry of Agriculture and Environment noted that the sector’s potential remains largely untapped, particularly in pet food, accessories, and specialised veterinary services. These are poised for strong growth as rising incomes and higher quality-of-life expectations drive consumer spending.
According to him, authorities are refining the legal framework to support industry development, including stricter regulations on breeding, feed management, and pet-raising conditions. The goal is to improve disease control, enhance animal welfare, and reduce environmental impact.
At the same time, the State is encouraging enterprises to invest in modern technologies and develop internationally standardised pet food and services. This is expected to sharpen the competitiveness of local players and lay the groundwork for a more professional and sustainable pet industry.
Providing a broader market overview, Vu Ngoc Anh Thuyen, Marketing Director of TGM Research, said an online survey by the firm identified “pet humanisation” as the dominant trend shaping the market.
Across the Asia-Pacific, 60% of respondents own pets, while Vietnam’s pet ownership rate stands at 79%, among the highest in the region. Notably, 55% of Vietnamese pet owners have two or more pets, signalling that pet ownership has evolved from a hobby into a modern lifestyle choice. Around 45% of owners see their pets as family members, driving sweeping changes in care standards and spending habits.
Over the past five years, the market has seen strong growth in both products and services, including better veterinary care, eco-friendly items, pet insurance, and subscription-based models. This reflects a broader shift from reactive to proactive pet care.
In terms of spending, 55% of surveyed pet owners plan to increase their budgets over the next three years. Essential items such as food, accessories, and daily care products are now purchased monthly, becoming a regular household expense. Services like veterinary check-ups, professional grooming, and training are typically used every three to six months. Spending on health-related products and supplements leads the way, reflecting growing concern for pets’ long-term well-being. Pet food choices are also changing, with quality now prioritised over price.
Thuyen said the largest group of pet owners is aged 25–34. These busy young professionals are more inclined to adopt technology-driven solutions for pet care. Demand for regular care services and grooming accessories is also rising.
The growing prominence of independent pet stores as the main shopping channel highlights intensifying competition and market expansion, especially in metropolises such as Ho Chi Minh City.
Looking ahead, the market will be shaped by three major trends, including comprehensive healthcare services (routine check-ups, nutritional consulting, and professional care), lifestyle-support services (training, boarding, and pet walking), and the wider adoption of smart technologies such as surveillance cameras, automatic feeders, and intelligent litter boxes./.
