Thailand Pet Care & Veterinary Services Market Intelligence
Thai pet-care economy ~THB 60-65B FY2024 revenue. ~14-17M dogs and cats, ~30% household ownership. Perfect Companion (SmartHeart), CPF Pet Food, Royal Canin via Inter Pacific, Hill's via ICC; Thonglor Pet, Bangkok Animal Hospital anchor vet services. AIA, Bangkok Insurance launching pet insurance.
Key takeaways
- 1
Thai pet-care economy ~ FY2024 revenue across pet food (~), veterinary services (~), grooming and boarding (~), accessories (~), insurance and telehealth (~).
- 2
Pet population ~14- dogs and cats; roughly of Thai households own a pet, with sharp humanisation and premiumisation in Bangkok and tier-1 cities.
- 3
Pet-food channel splits between Thai mid-market (Perfect Companion SmartHeart, CPF CP Premium, Mars mass brands) and vet-channel super-premium (Royal Canin via Inter Pacific, Hill's Science Diet via ICC International).
- 4
Veterinary services consolidating: Thonglor Pet Hospital, Bangkok Animal Hospital, and other multispecialty chains anchor a premium tier; thousands of independent clinics serve the long tail under VPN licensure.
- 5
Pet insurance is small but growing: Bangkok Insurance and AIA Thailand launched pet products in 2024-25; penetration remains under of pets but compounds quickly from a tiny base.
- 6
Our read: pet care is a humanisation-led consumer-discretionary growth story. Listed exposure is narrow (ICC for Hill's distribution, CPF for pet-food division, BKI and AIA for insurance); most value capture sits in private hands (Perfect Companion, Thonglor Pet, Inter Pacific).
Executive summary
Thailand's pet-care and veterinary-services market generated approximately in FY2024 revenue (SCB EIC, industry estimates), serving an installed base of ~14- dogs and cats across roughly of Thai households (DLD census range, industry surveys). Pet food is the largest category (~ of spend), followed by veterinary services (~), grooming and boarding (~), accessories and hygiene (~), and an early but compounding pet-insurance and telehealth tier (~). The market is structurally premiumising as urban Bangkok and tier-1 households treat pets as family members.[, , ]
Pet food splits across two channels. Thai-made mid-market is led by Perfect Companion Group (SmartHeart, Mister Pet, Petme) and the CPF Pet Food Division (CP Premium); Mars Petcare Thailand pushes mainstream global brands (Pedigree, Whiskas) through modern trade. Vet-channel super-premium is dominated by Royal Canin (Mars Petcare, distributed locally by Inter Pacific) and Hill's Science Diet (Colgate-Palmolive's Hill's Pet Nutrition, distributed by Saha Group's SET-listed ICC International). Veterinary services are split between Bangkok premium multi-specialty chains (Thonglor Pet Hospital, Bangkok Animal Hospital) and thousands of independent clinics under VPN licensure.[, , , , , , ]
Regulation sits with the Department of Livestock Development (DLD) for veterinary services, pet-food import (HS 2309) and animal-feed standards, and with the Veterinary Council of Thailand (VPN) for licensure of practising veterinarians. Adjacencies have grown: Bangkok Insurance and AIA Thailand launched pet-insurance products in 2024-25; online retail has matured with Pomelo Pet and Petlovers complementing Shopee, Lazada vertical pet pages and modern-trade chains such as PetSmart Thailand and Perfect Companion's captive Petsworld stores.[, , , , , ]
Thai pet-care economy revenue trend (THB billion, 2020-2024)
2020
Revenue (THB B)
38
Context
COVID; pet ownership uptick during lockdown
2021
Revenue (THB B)
42
Context
Companion-animal adoption normalises high
2022
Revenue (THB B)
48
Context
Premiumisation accelerates; vet-channel expands
2023
Revenue (THB B)
55
Context
Pet humanisation; modern retail formats grow
2024
Revenue (THB B)
62
Context
Insurance launches; online retail scales
| Year | Revenue (THB B) | Context |
|---|---|---|
| 2020 | 38 | COVID; pet ownership uptick during lockdown |
| 2021 | 42 | Companion-animal adoption normalises high |
| 2022 | 48 | Premiumisation accelerates; vet-channel expands |
| 2023 | 55 | Pet humanisation; modern retail formats grow |
| 2024 | 62 | Insurance launches; online retail scales |
Pet-care spend by category (% of FY2024 revenue)
Veterinary services (clinic, hospital)
Share %
Notes
VPN-licensed; consolidation in Bangkok premium
Grooming, boarding, daycare
Share %
Notes
Bangkok concentration; pet-hotel format
| Category | Share % | Notes |
|---|---|---|
| Pet food (mainstream and premium) | 55% | Modern trade, vet channel, online |
| Veterinary services (clinic, hospital) | 22% | VPN-licensed; consolidation in Bangkok premium |
| Grooming, boarding, daycare | 10% | Bangkok concentration; pet-hotel format |
| Accessories, toys, hygiene | 8% | Shopee, Lazada, Petsworld, PetSmart |
| Pet insurance, telehealth, other | 5% | BKI, AIA pet products, small base |
Analyst framing
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Key figures
Selected anchors from the report evidence pack.
Thailand pet care sector revenue (2020-2024)
Euromonitor International Pet Care Thailand, Kasikorn Research Center, Bank of Thailand consumer surveys
Thailand companion pet population
Thai Veterinary Medical Association, Kasikorn Research Center, Department of Livestock Development
Thailand pet food brand share (2024)
Nielsen Thailand retail audit, Euromonitor, Perfect Companion / ICC International disclosures
Thailand registered veterinary hospitals and clinics (2020-2024)
Veterinary Council of Thailand, Department of Livestock Development, Thonglor Pet Hospital disclosures
Thailand pet insurance gross written premium (2022-2024)
Office of Insurance Commission, Bangkok Insurance disclosures, Roojai investor materials
Thailand pet humanisation annual spend per pet
Kasikorn Research Center pet owner survey, Euromonitor, Perfect Companion consumer studies
Thailand premium pet food segment CAGR (2020-2024)
Euromonitor International, Kasikorn Research, Royal Canin Thailand investor materials
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