One of the Philippines’ largest branded food companies, Century Pacific Food Inc. announced the launch of its Goodest product line, marking its foray into the rapidly growing pet food business.
The move comes at a time when CNPF is looking to expand its portfolio and create new revenue streams.
CNPF executive chairman Chris Po said they saw the huge market potential in the pet food business due to the growing group of dog and cat owners embracing the trend of pet humanization where pets are considered as a family member.
With this trend, people have been giving their four-legged friends the absolute best.
“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.
More Filipino households are now caring for pets and treating them as family. Moreover, the penetration of pet food is still very low in the Philippines versus our more affluent ASEAN neighbors. We expect this category to continue growing going forward,” Po said.
CNPF will initially offer an affordable cat food range formulated with essential nutrients and minerals needed for daily food intake that meets the gold standard in pet nutrition set by the Association of American Feed Control Officials.
Goodest is now available in leading supermarket chains and online retail platforms nationwide.
“We are hopeful that this and other innovations will become future growth drivers for the company. We are always on the lookout for opportunities to expand our portfolio, whether organically or inorganically, but it needs to be purposeful,” Po said.
From a mere export tuna manufacturer, CNPF has successfully built a strong portfolio of market leading brands in shelf-stable marine and meat categories over time.
In the past five years, CNPF has been aggressively beefing up its presence in emerging categories such as dairy and coconut. It recently entered the nascent yet fast-growing plant-based meat alternatives market with its new brand, ‘unMEAT’.