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- Click for the snapshot of this report

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 

1. Product 
   • 1.1 Dry pet food
   • 1.2 Wet pet food
   • 1.3 Pet snacks and treats
2. Type 
   • 2.1 Dog food
   • 2.2 Cat food
   • 2.3 Other small pet food
3. Distribution Channel
   • 3.1 Offline
   • 3.2 Online
4. Geography 
   • 4.1 APAC

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
• • Offline
  • Online
• Geography
• • APAC

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/pet-food-market-size-in-taiwan-is-set-to-grow-by-usd-349-56-million-from-2024-2028--rising-awareness-of-pet-nutrition-to-boost-the-market-growth-technavio-302159686.html

SOURCE Technavio