Booming petconomy

Filipinos are becoming great pet lovers, and the most recent petconomy numbers bear this claim. A survey conducted by Tokyo-based technology conglomerate Rakuten in 2021 had estimated that over 67 percent of the country’s population own dogs, which is seen as the highest dog ownership stat in Asia.

The Philippines also has the second highest number of households in Asia that own cats, at 43 percent, and such distinction is also borne by the growing business for canned wet cat food, as well as kibbles (or dry food).

US, Europe, and Canada are seriously looking at ways to better compete in the Philippine pet business, especially since they face higher tariffs and shipping rates compared to products from China, Thailand, or even Australia and New Zealand.

The local pet food business is growing as more Filipinos allot part of their household budget to pet foods, as well as healthcare and grooming services. Gone are those infamous days when Filipinos regarded dogs as a protein source, especially when drinking with friends.

More Filipinos are taking in dogs and cats of mixed breeds, although not necessarily with any special pedigree distinction. Those who can afford the specialized care that come with furry dogs and cats can be choosy with the kind of pet foods they buy, which is why the market for “healthy” kibbles is gaining ground too.

Just like with people, there’s a trend for pet food that’s devoid of preservatives or made of hypoallergenic or wheat-free organic ingredients. Who knows what’s next. We may soon see dine-in businesses specializing in pet food served at tables.

The more fussy pet owners may choose to cook the food they give their furry companions, and many seriously take the advice of veterinarians in the kind of diet that the dog or cat pet should have, especially if prone to some health issues, most common of which would be urinary tract infections.

High growth prospects

Pet owners who prefer to prepare their pets’ food with the freshest or choicest of ingredients are few. Most owners would go for store-bought foods because these are simple to prepare, and apparently are enjoyed by their pets.

Pet food exporters are heartened, though, that while about half of the dogs and cats that are adopted into homes are still fed with table scraps, this could turn out to be a huge opportunity when these households convert to processed dry pet foods.

While many other countries’ economies still struggle post-pandemic, the Philippines had been more fortunate to continue posting growth, even if slightly lower than expected. This has translated to a middle class that can continue to feed their pets well with processed dog and cat food.

The global pet food business considers the Philippines as having the best prospect for growth among ASEAN member-nations, at nine percent this year for dogs and 13 percent for cats, and nine percent overall worth $434 million compared to $397 million in 2022.

Lucrative pet care

Some jokingly comment that rearing a pet cat or dog could be more expensive than seeing a child through adulthood if the education cost is not factored in. This observation arises when you bring your furry best friend to the veterinarian.

Gone are the days when a vet would simply do an ocular inspection of your pet and ask you what your observations are that make you think something is wrong. These days, vets want to be scientifically sure of what your pet’s problem is. And this could turn out to be really expensive.

Your cat or dog, not being able to say exactly if its hurting and where, is made to undergo laboratory tests that could add up to a tidy sum. I’m told of a story about an influencer who brought her pet cat to the vet, and was billed over P50,000 for tests and procedures.

The story became controversial because the dog and cat clinic had to resort to social media channels to ask the pet owner to pick up her cat and pay something like P70,000 already after adding up the extended days in hospital care.

The more prudent vets in private practice today dare not risk diagnosis of an ailing pet’s condition unless backed up by tests: blood chemistry, x-rays, and urinalysis. Then, there are also tests to check for parasite infection, heartworm, parvovirus, immunodeficiency, and leukemia virus.

Many of these sound like tests that our own doctors recommend, but which we usually don’t immediately agree to, thinking that we know our bodies better. However, when we see our pets looking wan or without an appetite, our wallets quickly open up for these costly tests.

Pet ownership

A growing number of rabid pet owners who dote excessively on their four-legged home companions, are middle-income young couples who wish to move on to old age without having children. For many of them, caring for pets fits well into their social and economic aspirations and calendars.

Thus, they buy their pets strollers for that weekly romp in the mall or park, dress up or groom them, or even hire the services of a pet trainer to make sure that they don’t mess up in the house and can show off a trick or two with friends during weekend get-togethers or gatherings.

Whether these all are hallmarks of an economy ascending to upper-middle income or just a quirky reflection of an emerging generation, or the after-effects of a pandemic, Filipinos sure know how to do things differently.

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