Increasing disposable income and changing consumer lifestyle in the Southeast Asian countries is fuelling the growing acceptance of pets amongst the high-income groups as well as middle-income groups. Growing demand from the pet owners with regards to improved and nutritious, organic and healthy foods for pets. This in turn is leading to growth of pet humanization and rising usage of private label products in the Southeast Asian countries. Key players and manufacturers are developing strategic market plans for expanding their presence in the emerging markets, thereby catering to the increasing needs of pets and customers across the globe.
A recent report anticipates that the southeast asia market for pet care will expand at a healthy 6.8% CAGR during the forecast period, 2014-2020, to reach an evaluation of nearly 1,412.7Mn by 2020-end. Companies namely Mars Petcare, Central Proteinaprima TBK PT, Merck Animal Health, Universal Robina Corporation, Nestle Purina Petcare, Zoetis and Thai Union Frozen Products Pcl amongst others will witness a notable growth globally. Prominent companies are planning to focus on marketing strategies such as product innovations and increasing their product portfolio.
Mars Petcare Introduces Pet Insight Project
Mars Petcare recently announced that it has been introducing a Pet Insight Project, which is a three-year survey of over 2L dogs across U.S. This step taken by the company would help in understanding various important links between the pet health, behavior and activity. Key players and manufacturers must note that Mars Petcare has been highly supported by Banfield Pet Hospital™ and Whistle™, which would help the company in fulfilling its mission plan. Whistle™ is the company’s most important pet tracker business and Banfield Pet Hospital™ is a high-grade veterinary care practice.
Mars Petcare will utilize deep veterinary expertise, rich data science, and machine learning for the purpose of succeeding in the longitudinal survey, which in turn will help in understanding the changing behavior in the pet’s health. This eventually leads to pet owners to connect with veterinarian with regards to early treatment of pets. Mars Petcare is taking immense efforts by coming up with innovative projects such as Pet Insight Project that would strengthen its position in the southeast asian market for pet care as well as promote pet care worldwide.
Technological Benefits for Pet Care
Big data and technology are considered as powerful tools by the major manufacturers in the market as they radically help in altering the way in which veterinary care is delivered. Mars Petcare is likely to be contributing significantly towards transforming pet health.
Key players and manufacturers must note that Pet Insight Project is a tech-enabled survey of pet health which will be involving most of the pet owners in Southeast Asia allowing their pets to be a part of the innovative project. The most important benefit of this project is that it does focus on providing repeat wellness visits in its Banfield hospitals, where the veterinarians will be updating electronic health records along with significant health changes. Later these records are to be interrelated with the high-resolution data that is collected through Whistle Fit. This is a wearable activity monitor that is purpose-built. The unique combination is expected to provide analysis by veterinary professionals and data scientists for mapping appropriate patterns of the pet movement and behavior with regards to illness, thereby ensuring early detection and treatment.
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