NEW
YORK, May 31, 2024 /PRNewswire/ -- The pet food
market size in Taiwan is estimated
to grow by USD 349.56 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 6.57% during the forecast period.
For comprehensive forecast and historic data on
regions, market segments, customer landscape, and companies-
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Dry pet food,
Wet pet food, and Pet snacks and treats), Type (Dog food, Cat food,
and Other small pet food), Distribution Channel (Offline and
Online), and Geography (APAC)
|
Region
Covered
|
Taiwan
|
Key companies
profiled
|
Agrolimen SA, Archer
Daniels Midland Co., Blue Buffalo Co. Ltd., Carnivore Meat Co. LLC,
Colgate Palmolive Co., Freshpet Inc., Han Shuo Food Co. Ltd.,
heristo aktiengesellschaft, JustFoodForDogs LLC, Lafeber Co., Mars
Inc., Nestle SA, Pettric Pet Food Co. Ltd., Schell and Kampeter
Inc., Spectrum Brands Holdings Inc., Tiernahrung Deuerer GmbH,
Wellness Pet Co. Inc., Yoda Food, YOYO Chic Intl. Co. Ltd., and The
J.M Smucker Co.
|
Key Market Trends Fueling Growth
In Taiwan's pet food market,
the trend toward organic and natural options has gained significant
traction. With pet owners viewing their animals as family members,
the humanization of pets is driving market growth. Health concerns
for pets have led many to prefer organic pet food, which offers
benefits such as improved skin health and fewer digestive issues.
To meet this demand, numerous pet food companies in Taiwan have introduced organic product lines.
As a result, the market for organic pet food is poised for
substantial expansion during the forecast period.
The pet food market in Taiwan
is experiencing significant growth, with wellness and functional
foods being key trends. Senior consumers prioritize dog and cat
food, while regulators focus on food safety and certification.
Organic and natural ingredients are preferred, with some pet owners
opting for raw or homemade diets. Regulations require clear
labeling and nutritional information.
Producers must adapt to these trends to remain competitive in
the market. Pets are considered family members, and their nutrition
is a priority for many Taiwanese households. The pet food industry
is expected to continue growing, driven by increasing pet ownership
and changing consumer preferences.
Market Challenges
- Pet allergies pose a significant challenge for the pet food
market in Taiwan. Allergic
reactions to proteins in a pet's skin cells, urine, or saliva can
cause symptoms such as sneezing, itchy eyes, and nasal problems in
humans. These allergens, particularly common in cats, can remain
airborne and cause complications like eczema and asthma.
- Due to these health concerns, individuals with
breathing-related conditions are often advised against owning pets.
Consequently, the prevalence of pet allergies may hinder the growth
of the pet food market in Taiwan
during the forecast period.
- The pet food market in Taiwan
faces several challenges. Dogs and cats are the primary consumers,
with premium and organic brands gaining popularity. However,
distribution is a significant challenge due to the large number of
brands and suppliers. Consumers prefer local brands, but import
brands offer variety and unique ingredients. Brands need to focus
on sustainable and eco-friendly production to meet consumer
demands.
- Additionally, the market is competitive, with brands striving
to offer innovative and high-quality products to stand out. The
market is expected to grow, with an increasing number of pet owners
and a shift towards premium and natural pet food options.
Research report provides comprehensive data on
impact of trend, driver and challenges - Download a
Sample Report
Segment Overview
- Product
- 1.1 Dry pet food
- 1.2 Wet pet food
- 1.3 Pet snacks and treats
- Type
- 2.1 Dog food
- 2.2 Cat food
- 2.3 Other small pet food
- Distribution Channel
- Geography
1.1 Dry pet food- In Taiwan's pet food market, dry pet foods hold
significant popularity due to their extended shelf life, ease of
transportation, and seed-based and grain-protein sources.
Convenience is a key factor, with dry kibble allowing pets to eat
at their own pace without spoilage. However, health warnings and
recalls pose challenges, potentially hindering growth during the
forecast period. Despite these hurdles, the convenience and
logistics advantages continue to fuel the segment's expansion.
Overall, moderate growth is anticipated for the dry pet food market
in Taiwan.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The pet food market in Taiwan
continues to thrive, with a significant consumer base showing
preference for premium pet food options. This trend is driven by
the growing awareness of the importance of pet nutrition and
health. Pet owners in Taiwan are
increasingly seeking out pet food that is made with organic and
natural ingredients, free from grains, and rich in protein. Both
dry and wet food varieties, as well as treats, are popular choices
among consumers.
Brands that prioritize the use of high-quality ingredients and
adhere to veterinary standards are particularly favored. The market
for pet food in Taiwan is diverse,
with options available for purchase online and on retail shelves.
Sales of pet food are subject to consumer supply and demand, with
freshness and shelf-life being key considerations for pet owners.
Overall, the pet food market in Taiwan reflects a strong commitment to
providing pets with the best possible nutrition.
Market Research Overview
In the Pet Food Market in Taiwan, various brands offer a wide range of
products to cater to the diverse needs of pets. These offerings
include dry and wet veterinary and non-veterinary diets, functional
and specialized pet foods, and organic and natural pet foods. The
market is segmented based on product types, such as dry and wet
foods, and by species, including dogs, cats, and others.
Brands focus on providing premium and superpremium pet foods,
with some offering grain-free, high-protein, and low-calorie
options. The market is also witnessing an increasing trend towards
eco-friendly and sustainable packaging. Consumers prioritize
factors like product quality, brand reputation, and price when
making purchasing decisions. The market is expected to grow due to
the rising pet population, increasing disposable income, and
changing consumer preferences towards healthier pet food
options.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Dry Pet Food
- Wet Pet Food
- Pet Snacks And Treats
- Type
-
- Dog Food
- Cat Food
- Other Small Pet Food
- Distribution Channel
-
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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