One of the bigger Philippines food companies, Century Pacific Food, is venturing into the pet industry with its new brand 'Goodest'.
Christopher Po, CNPF’s Executive Chairman, said, “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."
The company will start offering affordable cat food, before expanding to other product lines.
‘Goodest’ is now available in leading supermarket chains and online retail platforms nationwide.
The company has its roots in OEM export tuna manufacturing and this move is part of its portfolio diversification strategies.
"Our entry into the pet category is another output of the company’s innovation thrust that led to recent new product launches. 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. “In the case of pet food, we think we have found an attractive opportunity where we believe we can offer compelling value to the market. We see this as a strongly synergistic and accretive business unit that can leverage our manufacturing and brand-building know-how. We look forward to building our pet food business and are excited for the vast opportunities that are available for the company in this high-growth category.”
