Asia’s Growing Pet Population Fuels Business Boom
GONGJU, South Korea/KUALA LUMPUR — Asia is experiencing a surge in pet ownership, creating a lucrative market for businesses involved in pet products and services. As the region’s population, estimated by the United Nations to reach 5 billion by 2050, becomes more affluent, people are increasingly turning to pets for companionship, especially in the wake of the COVID-19 pandemic.
Nicholas Wong and his partner Su Wen, who live just outside Kuala Lumpur, are among the many in Asia embracing pet ownership. The trend is particularly noticeable in countries with large populations and those with declining birth rates.
Experts believe that the increasing popularity of domestic animals presents a substantial business opportunity across a range of sectors.
This growth in pet ownership translates into a multibillion-dollar opportunity for businesses providing pet food, healthcare, technology, and tourism services. These trends indicate a shift towards the “humanization” of pets, which is driving world-leading growth in the pet market.
Originally published March 29, 2025
