Insight

Reference

·

Primary source

BOI 2028 export target

USD 5B

As of2028 target·Sources2·Primary

Thailand's Board of Investment target for pet food exports by 2028 — roughly doubling from the 2024 USD 2.67B base. Backed by 8-year tax holidays and import-duty exemptions on qualified machinery.

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Figure in context

Thailand's Board of Investment target for pet food exports by 2028 — roughly doubling from the 2024 USD 2.67B base. Backed by 8-year tax holidays and import-duty exemptions on qualified machinery.

Thailand's Board of Investment target for pet food exports by 2028 — roughly doubling from the 2024 USD 2.67B base. Backed by 8-year tax holidays and import-duty exemptions on qualified machinery.

Time scope

2028 target

Source basis

Primary source

Interpretation notes

What this tells you

Thailand's Board of Investment target for pet food exports by 2028 — roughly doubling from the 2024 USD 2.67B base. Backed by 8-year tax holidays and import-duty exemptions on qualified machinery.

What not to do with it

Use the linked report for interpretation and keep basis differences explicit.

Related figures

Adjacent numbers that add context without drowning the value.

FY2024
USD 2.67B

2024 pet food exports

Ministry of Commerce — HS 2309.10, UN Comtrade cross-check

FY2024
32.4%

US destination share

MOC, USDA APHIS cross-check

FY2024
THB 17.7B

i-Tail 2024 revenue

i-Tail Corporation 2024 Form 56-1 Annual Report

FY2024
THB 6.01B

Asian Sea Corp pet food segment

Asian Sea Corporation

FY2024
USD 349.6M

EU imports from Thailand

Eurostat, EU DG TRADE, FEDIAF

FY2023
THB 15.1B

Thai Union Petkind revenue

Thai Union Group 2025 Annual Report

Report context

Thailand Pet Food Manufacturing & Export Market Intelligence

Thailand surged to #2 global pet food exporter in 2024 — USD 2.67B of shipments, +29% YoY, with the US taking nearly a third of the volume. The listed operator stack is unusually clean: i-Tail (SET: ITC), Thai Union (SET: TU) via Petkind, Asian Sea Corporation (SET: ASIAN), plus CP-owned Perfect Companion and the Mars Petcare Thai subsidiary. This report covers the 2024 export step-up, operator economics, FDA, EUDR compliance exposure, and a 5-year scenario band.

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Atlas actors in this figure's reports

Profiles covered in the report that cite this number.

Asian Sea Corporation

The fastest-growing listed pet food segment on the SET — +37% YoY, now ~50% of group revenue.

i-Tail Corporation

Thailand's pure-play pet food OEM — the export fingerprint of the category.

Mars Petcare (Thailand)

Mars Inc.'s Thai subsidiary — Pedigree, Whiskas, Royal Canin distribution, contract manufacturing.

Perfect Companion Group

CP Group's sole pet food arm — SmartHeart flagship, largest private pet food operator in Thailand.

Thai Union Group

The branded-seafood anchor with a pet care growth pillar — Petkind, ~74% i-Tail.

Charoen Pokphand Foods

CP Group's agri-food flagship; FY2024 revenue ~THB 580-600B; pork, chicken, aquaculture, processed foods, pet food across 18 countries.

BOI 2028 export target · Insight