Taiwan Pet Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Taiwanese Pet Food Market is Segmented by Product Type, Animal Type, Ingredient Type, and Sales Channel.

Market Snapshot

Study Period:

2016 - 2026

Base Year:

2020

CAGR:

3.56 %

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Market Overview

The Taiwanese pet food market is expected to witness CAGR of 3.56% over the forecast period (2020-2025). The market is characterized by high-quality awareness and preference, and the willingness of the consumer to pay for such products. Pets are increasingly seen as a symbol of affluence, and this notion is a key driver in the eastern markets. This applies particularly in the case of large pets, as this also signals an ample living space and maintenance capability. The market growth is mainly dependent on the thinking shift toward commercial products from the leftovers and table scraps. The traditional trends of late marriages and rising single households also apply to the Taiwan market and are major drivers for the market. Pet ownership is region-specific in Taiwan and is mostly centered on the capital city of Taipei. The highly-populated central and southern cities of Taichung, Tainan, and Kaohsiung are the next major destinations with developing economies and consumer capabilities. The Taiwanese markets are heavily leveraged over the marketing capability of manufacturers, with well-planned promotional campaigning giving consistent results.

Scope of the Report

The Taiwanese pet food market consists of two main groups, namely foreign-owned and local companies. Foreign companies account for a major chunk of the market, with few local Taiwanese companies that account for 30% of the market share. Products from the United States, Japan, Australia & New Zealand, and Thailand are easily available due to the increase in the e-commerce industry of Taiwan. The report contains an analysis of various parameters of the Taiwanese pet food market. The study includes various kinds of food given to pets, like cats, dogs, birds, etc., in Taiwan. The market has been segmented based on the type of animal, product, ingredient, pricing, and sales channel. The study involves the analysis of pet food and market demand.

Product
Dry Pet Food
Wet Pet Food
Veterinary Diet
Treats/Snacks
Other Products
Animal Type
Dog
Cat
Bird
Other Animal Types
Ingredient Type
Animal-derived
Plant-derived
Cereals and Cereal Derivatives
Other Ingredient Types
Sales Channel
Specialized Pet Shop
Internet Sales
Hypermarket
Other Sales Channels (Grocery and Non-grocery Store)

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Key Market Trends

Dry Pet Food Dominate the Market

The dry pet food segment of the market studied is expected to register a CAGR of 3.56%, during the forecast period. The growth of the segment can be attributed to the fact that these are pocket- and user-friendly options that are also easy to store, as they can be left out in the open without worries amidst the busy schedules of owners. Along with providing nutrition, some of the specially formulated dry pet foods are used for cleaning teeth. This feature helps dry pet food capture more market share than liquid pet food. Dry pet food is majorly used for dogs and cats, as dogs are becoming symbols of affluence, in Taiwan. By product, the dry pet food segment accounts for about 80% of the market share. The major players of the dry pet food segment are - Vegepet, Benefit, and Taiwan DoggyMan Trading Co. Ltd.

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Demand for High-quality and Natural Pet Food

Growth in the pet food industry in Taiwan represents a change from culture to animals as pets. Despite rising sales and heavy western influences, dogs are now a sign of Taiwan's affluence. Taiwan's pet food imports are expected to continue to rise steadily in the coming years as pet ownership also rises, with the growth of cat owners exceeding dog owners. This shows that more and more pet owners are buying pet food manufactured commercially, rather than using table scraps. The long-term prospects for U.S. pet food exports to Taiwan point to further competition, but a one-third market share of U.S. goods is expected to remain. U.S. pet food products are commonly considered as being of considerably higher quality, which is the primary reason which pet owners in Taiwan are able to pay higher prices.

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Competitive Landscape

In the market studies, companies are investing heavily in developing new products and collaborating and acquiring other multinationals companies. This factor is expected to increase their market shares and strengthen R&D activities. Owing to the presence of a considerable number of multinational and domestic producers in the market studied, it is fragmented and highly competitive. The multinationals companies, such as Colgate Palmolive (Hill's Pet Nutrition), Mars Inc., Nestle Purina, etc., are the largest in Taiwan and occupy around 58% of the market share. The Taiwanese companies, like Uni-President Enterprise Corp. and Fwusow Industry Co. Ltd, hold around 22% of the market share, after large multinationals.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Market Opportunities

    5. 4.5 Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Dry Pet Food

      2. 5.1.2 Wet Pet Food

      3. 5.1.3 Veterinary Diet

      4. 5.1.4 Treats/Snacks

      5. 5.1.5 Other Products

    2. 5.2 Animal Type

      1. 5.2.1 Dog

      2. 5.2.2 Cat

      3. 5.2.3 Bird

      4. 5.2.4 Other Animal Types

    3. 5.3 Ingredient Type

      1. 5.3.1 Animal-derived

      2. 5.3.2 Plant-derived

      3. 5.3.3 Cereals and Cereal Derivatives

      4. 5.3.4 Other Ingredient Types

    4. 5.4 Sales Channel

      1. 5.4.1 Specialized Pet Shop

      2. 5.4.2 Internet Sales

      3. 5.4.3 Hypermarket

      4. 5.4.4 Other Sales Channels (Grocery and Non-grocery Store)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Mars Inc.

      2. 6.3.2 Nestle SA (Purina)

      3. 6.3.3 Colgate Palmolive (Hill's Pet Nutrition)

      4. 6.3.4 Nutriara Alimentos Ltda

      5. 6.3.5 InVivo NSA

      6. 6.3.6 Agrolimen SA

      7. 6.3.7 Mogiana Alimentos SA

      8. 6.3.8 Heristo AG

      9. 6.3.9 Deuerer

      10. 6.3.10 Wellpet

      11. 6.3.11 J.M. Smucker (Big Heart)

      12. 6.3.12 Diamond Pet Foods

      13. 6.3.13 Blue Buffalo

      14. 6.3.14 Merrick Pet Care

      15. 6.3.15 Sunshine Mills

      16. 6.3.16 Ainsworth Pet Nutrition

      17. 6.3.17 Yamahisa Pet Care

      18. 6.3.18 Debifu Pet Products Co. Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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