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The Taiwan pet food market size is projected to increase by USD 349.56 million, at a CAGR of 6.57% between 2023 and 2028.
Dry pet foods, favored for their convenience, longer shelf life, and easy transport, dominate the market. Rich in seed and grain proteins, they offer the benefits of prolonged storage and hassle-free consumption for pets. Despite recurrent health warnings and product recalls, the market is projected to see moderate growth. Convenience remains a key trend driving consumer consumption, with vendors introducing innovative packaging solutions. This market analysis outlines forecasts amidst evolving consumer trends and logistical ease. Additionally, Yoda Food company offers pet food such as Wellness complete health puppy bites chicken and carrots, Wellness CORE Brainioc puppy treats beef and Turkey and Wellness core healthy joints beef and chicken meal.
The market shows an Accelerated CAGR during the forecast period.
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The growing tendency of pet humanization is the key factor driving the market. Pet ownership looking for products that match their dietary needs and values, which is why the market for high-quality pet food is growing. For example, many manufacturers in Taiwan have started to offer organic pet food, grain-free pet food, hypoallergenic commercial products, etc., which is aligned with the developments seen in the large pets food industry.
Moreover, packaging and presentation have also been influenced by the rise in pet humanization. Pet food products have been marketing capability in a way that emphasizes premium quality as well as health benefits, similar to the way human food products are marketed. Packaging designs frequently feature pictures of fresh ingredients and emphasize nutritional benefits, which appeals to pet owners who value their pet's health. Thus, such factors will drive the growth of the market during the forecast period. Additionally, the rising single households and Western influence in developing economies have contributed to the rise in pet ownership and subsequently in the market.
The growth of the organized retail sector is the primary trend shaping the market. Market players are constantly bolstering their distribution networks through organized retailing in order to increase sales volume and revenue. Supermarkets, hypermarkets, and pet-specialty shops have all contributed to the growth of organized retailing. The two primary offline distribution channels for these products are hypermarkets and supermarkets.
Furthermore, consumers can pick from a wide range of these items thanks to organized retailing, which is a key component of offline distribution channels. Major hypermarkets and supermarkets with a variety of pet food goods such as Pet Super Market, Walmart, and Target Corp. Therefore, due to an increase in the number of organized retailers offering shelf space for branded and private-label packaged products, the market is expected to grow positively during the forecast period.
The risk of pet food product recalls is a major challenge that affects market expansion. The supply chain for pet food ingredients is one of the main risk factors in the Taiwan pet food market. Manufacturers often use a complicated network of suppliers for their raw materials, which makes it difficult to guarantee quality and safety for every ingredient. A single contamination incident such as a harmful substance or an allergen in the supply chain, can cause a recall that affects the entire market.
Additionally, compliance with regulatory requirements is essential in mitigating the risk of recalls. The Taiwan pet food market is experiencing growing regulations, and failure to meet these standards can result in costly and reputation-damaging recalls. For example, a failure to adhere to labeling requirements or nutritional guidelines leads to products being pulled from the market. Thus, such factors will restrict the growth of the market during the forecast period.
The dog food?segment will account for the largest share of this segment.?Pet owners in the country are increasingly showing interest in more natural and healthier dog food offerings. Consequently, it is expected that market players will look for ways to leverage food trends, with an emphasis on trends such as health and wellness, which will continue to encourage pet owners to buy premium dog food in the country. For example, market players such as Mars Inc. have an extensive portfolio of dog food products in the market. Thus, such factors under this segment will drive the growth of the Taiwan pet food market during the forecast period.
The market share by the dry pet food segment will be significant during the forecast period. Owing to factors such as easy transportation and storage as well as a longer shelf life than wet pet foods, dry pet foods are highly popular among pet owners in Taiwan. Dry foods are generally rich sources of seed-based and grain-based proteins and contain a limited number of animal-based proteins. Dry foods such as dry kibble for dogs and cats offer convenience to pet owners as they can be served for the pets to eat at their own pace without any fear of spoilage.
The dry pet food segment was valued at USD 402.48 million in 2018.
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Additionally, market players are offering dry pet foods in convenient packages such as stand-up zip lock pouches to enhance the convenience of pet owners. Furthermore, the growing prominence of convenience in pet food storage and consumption and the ease of logistics will continue to drive the growth of this segment in the coming years. Due to the abovementioned factors, the segment of the market is expected to witness moderate growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Agrolimen SA, Archer Daniels Midland Co., 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., YOYO Chic Intl. Co. Ltd., and The J.M Smucker Co.
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth report forecasts market growth analysis by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
In the market, the dog and cat food market reflects a societal shift where pets are no longer just companions but family members, driven by rising incomes and a desire for a symbol of affluence. Gone are the days of leftovers and table scraps; today, commercially produced pet food dominates, blending traditional trends with modern preferences. In Taiwan, especially in the bustling capital city of Taipei and other urban areas like Taichung, Tainan, and Kaohsiung, cat ownership is on the rise, fueled by consumer capabilities and the marketing capability of manufacturers through promotional campaigning. The rise in the pet food market is evident, with a focus on supplements and functional pet food, supported by Taiwan's Department of Animal Industry and its efforts to boost international potentials in an urbanized self-ruled democracy.
Additionally, despite challenges like the pandemic, the rate of pet ownership is climbing, with the Council of Agriculture estimates indicating over 2 million pet dogs and cats, driving demand for the best quality and premium-grade pet food. Furthermore, in the Taiwanese market, characterized by a trend of late marriages, pet ownership is thriving, particularly in central and southern cities where urban citizens embrace their furry companions. This surge has led to an increase in pet food imports, as indicated by the trade report, with both local producers and those from neighboring countries vying for market share. With a growing emphasis on the quality of ingredients, animal byproducts are gaining traction among local pet owners, reflecting a shift towards a higher degree of “at home economy” spurred by trends like remote work and online school, necessitating constant feeding solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.57% |
Market Growth 2024-2028 |
USD 349.56 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.11 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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