October 21, 2021 | 00h00
MANILA, Philippines – Century Pacific Food Inc., the Po family’s publicly traded food company, is making its foray into the pet food business to capitalize on the rapidly growing consumer goods category.
Christopher Po, executive chairman of CNPF, said pet ownership was on the rise not only in the Philippines but around the world.
“Pet food is one of the fastest growing categories of consumer goods in the Philippines and around the world. With long term trends such as rising incomes as well as demographic trends of people who stay single longer or have children later, as well as people who are spending more time at home due to the pandemic , we are seeing an increase in pet ownership, ”said Po.
CNPF’s new pet food brand is called “Goodest” and will target the growing number of Filipino households that care for pets and treat them like family.
“Pet food penetration is still very low in the Philippines compared to our wealthier neighbors in ASEAN. We expect this category to continue to grow in the future, ”said Po.
CNPF’s foray into pet food begins with an affordable cat food line.
“Its main products are all formulated with essential nutrients and minerals that cats need for their daily diet, meeting the gold standard for pet nutrition established by the Association of American Feed Control Officials (AAFCO ), “the company said.
Alexander Lim, chief innovation officer of CNPF and general manager of Pet Food, said more and more people are choosing to have pets.
There are newly married couples who are late in having children, single people who live alone in their condos, especially during this pandemic, and young families who cultivate in their children the values of care and responsibility.
“For them, pets are part of the family and should receive the best possible care and nutrition within their reach,” Lim said.
CNPF said Goodest is now available in major supermarket chains and online retail platforms nationwide.
The company’s entry into pet food is another step towards diversifying CNPF’s portfolio, Po said.
Over the past five years, CNPF has aggressively strengthened its presence in emerging categories such as dairy and coconut and more recently entered the nascent but growing market for plant-based meat substitutes. with its new brand, “unMEAT”.
“Our entry into the companion animal category is another result of the company’s innovation push that has led to the recent launch of new products. We hope that this innovation and others will become future growth engines for the company, ”said Po.
CNPF is always looking for opportunities to develop its activities.
“We are always looking for opportunities to expand our portfolio, whether organically or inorganically, but that needs to be determined,” said Po.