Wazzup Pilipinas News and Events

Thursday, August 15, 2024

Impressive Growth of Cat Food Sales in Indonesia’s E-commerce

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Pet ownership and the demand for premium pet products have surged in Indonesia, driving significant growth in the pet food market. Shopee dominates the market with Royal Canin leading the cat food category, reflecting consumer preferences for both quality and convenience.

In Indonesia, the pet ownership rate has been growing steadily as the country’s economy is advancing rapidly, driven by the increase of urbanization and industrialization. As a result, the pet population in Indonesia grew by a remarkable 75.7% between 2017 and 2022.

The rising trend of pet humanization has led to greater demand for premium pet products, particularly in the pet food category. This can be seen as the Indonesian pet food market grew at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2026.

Pet Food Market Overview

According to research by Magpie E-commerce Intelligence, the cat food market in Indonesia reached IDR 470.1 billion, with 30.7 million products sold between January and May 2024. Wilhendra, CEO of Magpie, noted, “The highest increase in the Pet Food category occurred in May 2024, with the GMV increasing by 33.56% from the previous month.”

Market Share by E-commerce

In the pet food market, Shopee dominates with a 74.1% share, followed by Tokopedia (18.7%) and Lazada (6.87%). Shopee significantly increased its market share by 47% in May, while Tokopedia saw a 12% increase during the same period. “Compared to other e-commerce platforms, it shows that Shopee is preferred as the one-stop-platform for people to buy pet products,” said Wilhendra.

Cat Food Market Share by Brand

The top five brands account for over half of the sales, with Royal Canin leading the cat food category with a 17.2% market share. Cat Choize follows with 12.5%, and Me-O holds 9.6%.

Cat Food Market Share Overtime

From January to May 2024, the cat food market was primarily dominated by Royal Canin and Cat Choize. Cat Choize saw a significant increase in February and March, surpassing Royal Canin but they regained the lead in subsequent months. Kitchen Flavor has shown steady growth, indicating promising potential despite its smaller market share.

Cat Food Top Brand on E-commerces

On Shopee, Royal Canin leads with a 15.86% share, generating IDR 55.28 billion in revenue. Cat Choize and Me-O follow closely behind in this competitive market.

On Tokopedia, Royal Canin is also the market leader with a 26.37% share. Cat Choize holds second place with a 15.94% share, while Me-O and Life Cat are in close competition, separated by only 0.32%.

Top-Selling Cat Food Products

Me-O’s top product is the Me-O Canned Cat Food Seafood Platter, which generated IDR 31.75 billion and sold nearly 2.24 million units. The Cat Choize Cat Salmon 800g is in second place, followed by the Royal Canin FCN Hair & Skin 2kg in third. “Consumers tend to purchase Me-O and Cat Choize products in smaller quantities but more frequently, whereas Royal Canin buyers prefer larger package sizes,” stated Wilhendra.

Thumbnail picture source: Freepik

About Magpie Ecommerce Intelligence

Magpie helps businesses discover the market potential in e-commerce, compare performance against competitors, and provide detailed market share breakdowns by sellers, location, and specific segments. With data and insights from Magpie, your business can make better decisions for the future.

Cloudsine Partners with Magnolia DXP to Enhance Web Security

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Cloudsine is excited to announce that the WebOrion Monitor is now part of Magnolia’s advanced security solutions for its managed DXP offering in the cloud. The WebOrion® Monitor provides 24/7 proactive monitoring to detect website defacements and hacks, ensuring businesses are the first to notice any changes, preventing reputational damage and loss of customer trust.

“At Cloudsine, we understand the importance of maintaining a secure and trustworthy online presence,” said Matthias Chin, CEO and Founder of Cloudsine. “The WebOrion® Monitor is designed to provide continuous surveillance of public-facing websites, offering timely alerts and allowing swift corrective action. Partnering with Magnolia allows us to extend these capabilities to a broader audience, ensuring more businesses can safeguard their digital assets.”

Commenting on the new extension, Tim Brown, CEO at Magnolia said, “Partnering with Cloudsine makes it easier for customers to benefit from the combined solution that we offer and to safeguard their web presence and reputation.”

Magnolia’s advanced security package is built on the principle that website security is a fundamental necessity, not an afterthought. The package offers a comprehensive suite of features, including CDN security, DDoS mitigation, and web defacement protection, making it a one-stop solution for robust website security.

This partnership reflects Cloudsine and Magnolia’s commitment to delivering top-tier security solutions, enabling businesses to maintain a secure online presence.

For more information about Cloudsine and the WebOrion Monitor, visit www.cloudsine.tech. For more information about Magnolia’s advanced security package, visit this blog.

About Magnolia

With over 450 enterprise customers, thousands of Community Edition deployments, and more than 200 certified Magnolia Partners around the world, Magnolia is the business-ready composable Digital Experience Platform of choice for leading companies around the world, including American Express, JetBlue, The New York Times, CNN, Sanofi, Sainsbury’s, Generali, and Ping An.

About Cloudsine

Founded 12 years ago, Cloudsine is a trusted provider of web security solutions and serves customers across eight different countries. Our flagship product, the WebOrion® security stack, includes an industry-leading web application firewall, a 24/7 proactive defacement monitor, and a one-click web restoration solution. It is designed to meet the security needs of large enterprises from various industries, including the public sector, healthcare, banking, and finance.

At Cloudsine, we’re on a mission to revolutionize the way organizations defend their web, cloud, and data assets. Through continuous innovation and dedication, we strive to empower businesses to stay ahead of emerging threats and protect what matters most.

Is Ethereum a Good Investment?

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As distributed ledger technology strives to transform industries, decentralize authority, and foster greater transparency, Ethereum has quickly established itself as one of the most promising digital assets driving this transformation. For those looking to diversify their crypto holdings, the option to swap BTC to ETH offers a strategic way to participate in Ethereum's growth potential.

However, like any speculative venture, significant risks coexist with substantial opportunities.

Assessing Ethereum's long-term investment viability requires a comprehensive analysis of the enduring value derived from its core utility and practical applications.

Ethereum's Distinctive Features

n contrast to Bitcoin's singular focus on digital payments and value preservation, Ethereum serves as a multifaceted asset powering an ecosystem of decentralized software. Ether tokens fuel a platform for creating and operating decentralized applications (dapps). Developers leverage Ethereum's programming language to construct smart contracts that deploy on its blockchain, enabling dapp functionality to execute as intended without the risk of censorship or manipulation.

These decentralized applications span diverse sectors, reimagining incentive structures and innovation potential across critical industries. Both global corporations and startups are taking note of these possibilities.

Ethereum's Potential Future

Upcoming enhancements such as sharding, proof-of-stake consensus, layer 2 scaling solutions, and more aim to enable Ethereum's blockchain to process upwards of 100,000 transactions per second at minimal cost. This positions the network to support billions of users and facilitate trillions in value transfer across decentralized finance (DeFi) protocols, non-fungible token (NFT) marketplaces, metaverse realms, and Web 3.0 applications.

As more enterprise and consumer-focused dapps are developed and adopted, this will provide intrinsic value to Ether itself. The long-term investment outlook appears promising for those who believe in the future of decentralized applications.

Key Growth Catalysts

Several critical factors suggest that Ethereum adoption will continue to accelerate rapidly:

1. Dominant Developer Mindshare: Ethereum leads in developer activity among blockchains, with over four times more monthly active developers than any other project, according to Electric Capital. The pace of innovation on Ethereum continues to intensify.

2. Mainstream Enterprise Adoption: Major institutions including JPMorgan, Mastercard, UBS, Microsoft, Intel, Amazon, and others are launching Ethereum-based projects and platforms to serve their clientele.

3. Accessibility of Consumer Applications: Between metaverse worlds, NFT digital collectibles, and DeFi protocols allowing users to earn yield, everyday users now have more accessible entrypoints for engaging with Web 3.0 Ethereum dapps in their daily lives.

4. Large-Scale Institutional Investment: Major crypto investment vehicles like the Grayscale Ethereum Trust, Canadian ETH ETFs, and CME Ether futures offer exposure to accredited investors, channeling billions of dollars into Ethereum's ecosystem annually.

5. Systematic Technology Improvements: While scalability limitations currently hinder Ethereum, foundational upgrades like sharding and Proof-of-Stake consensus aim to dramatically improve transaction speeds and costs. These upgrades are ongoing, coordinated by leading cryptographers and programmers worldwide.

As core protocol development and dapp innovation systematically address current platform limitations while broadening access for developers and consumers to build and use Ethereum apps, the network appears well-positioned to capture escalating value.

Managing Volatility and Uncertainty

Naturally, prudent crypto investors must consider the short-term volatility and longer-term uncertainty inherent to an early-stage asset like Ether. Monitoring potential shifts in crypto policies, regulations, and taxation warrants attention as the technology matures.

Further delays or complications could impede the rollout of upgrades like the transition to proof-of-stake, necessitating caution around projected timelines. Yet Ethereum now boasts a

substantial track record of resilience, security, and antifragility compared to earlier blockchain iterations. The global grassroots community of builders and users continues gaining momentum and sophistication in tandem with the technological evolution.

Competitive Threats From Alternative Cryptocurrencies

While Ethereum currently leads decentralized app platforms, competitive threats remain.

Alternative Layer 1 blockchains like Solana (SOL) aim to capture Ethereum's market share given their significant transaction speed advantages over Ethereum at present.

Solana prioritizes scalability and rapid innovation cycles to maintain its edge in raw throughput over ETH - already demonstrating the capacity to handle over 50,000 transactions per second (TPS) compared to Ethereum's 15 TPS currently.

If you’re considering adding Solana to your portfolio and wondering how to swap SOL to ETH, understanding these differences and the potential risks and rewards of each blockchain is essential.

However, Solana's extreme focus on speed comes at the expense of much lower security

thresholds presently and higher network instability risks. It also has far fewer live applications or

active users compared to Ethereum at this time.

This competition showcases contrasting philosophies—Solana's appetite for rapid composability

against Ethereum's emphasis on security and measured upgrades.

For investors bullish on Solana maintaining raw speed advantages over Ethereum long-term, the

substantial upside from its still nascent $35 billion market cap compared to ETH's formidable

$250 billion+ valuation may warrant including some Solana exposure alongside core Ethereum

holdings, if managed judiciously.

Ethereum Price Projections

Based on its growth trajectory, prominent crypto thought leaders and institutional analysts across

firms like Ark Invest, Bloomberg, Invesco, and Galaxy Digital share an overwhelmingly

optimistic outlook on Ethereum's price appreciation potential over 5-10 year horizons.

Mike Novogratz of Galaxy Digital believes Ether could surpass $7,500 per token by 2025 as

financialization accelerates and DeFi platforms built on Ethereum gain escape velocity.

A Bloomberg analyst projected Ethereum reaching a total market cap between $20-30 trillionneventually, which would translate to $14,000 - $20,000 per ETH token.

ARK Invest analysts forecast Ethereum hitting $20,000+ ultimately based on expected massive innovation and growth in DeFi, NFTs, decentralized autonomous organizations (DAOs), stablecoins, and Web 3.0 built largely on Ethereum over the coming decade.

Clearly, experts envision 10-100x or greater upside from current prices over the next decade, requiring the total crypto market cap to exceed $100 trillion. Such lofty predictions may seem far-fetched, but they underscore the potential for transformative technologies to reshape entire industries and generate immense value.

Final Verdict: Opportunity Outweighs The Risks

Despite the volatility, early-stage cryptocurrencies like Ethereum have monumental wealth creation potential comparable to historical paradigm shifts like the Internet over decades. Investors with sufficient due diligence and conviction around decentralized networks disrupting entrenched business models stand to generate substantial returns over long time horizons.

Based on accelerating real-world traction and infrastructure maturation, Ethereum appears

well-positioned to emerge as the definitive blockchain settlement layer and decentralized

application ecosystem over the next decade—with highly favorable odds of delivering generational wealth creation for believers in its paradigm shift.

Of course, risks ranging from delays in key upgrades to unforeseen protocol vulnerabilities to competitive displacement threats could severely impair returns. Hence, assessing individual risk tolerance and managing crypto allocations prudently remains vital.

Yet for those willing to endure the stomach-churning fluctuations, Ethereum represents a rare opportunity to potentially achieve extraordinary rewards over a sufficiently long time horizon.

As with any transformative technology, the journey will be tumultuous, but the potential payoffs could be life-altering for those who invest wisely and maintain conviction through the turbulence.