spot_img
27.7 C
Philippines
Friday, March 29, 2024

CNPF launches pet food products

- Advertisement -

Century Pacific Food Inc. has ventured into the fast-rising pet food business.

CNPF said in a disclosure to the stock exchange it launched a new pet food range under the brand called ‘Goodest’.

“Pet Food is one of the fastest growing consumer goods categories in the Philippines and around the world. With long-term trends such as rising incomes as well as demographic trends of people staying single longer or having children later, as well as people spending more time at home due to the pandemic, we see pet ownership on the rise,” CNPF executive chairman Christopher Po said.

Po said while more Filipino households are now caring for pets and treating them as family, the penetration of pet food is still very low in the Philippines versus the more affluent ASEAN countries.

The company’s move to venture in pet food business is also in line with its thrust to diversify its product portfolio and to develop future growth drivers, it said.

- Advertisement -

“We are always on the lookout for opportunities to expand our portfolio, whether organically or inorganically, but it needs to be purposeful,” Po said.

- Advertisement -

LATEST NEWS

Popular Articles