Taiwan pet supplement producers ‘go local, sell global’
Taiwan’s domestic and export sales of locally-sourced and produced pet food and supplements are currently energizing this industry.
In 2022, Taiwan exported US$17.66 million worth of pet food and supplements, which was US$5.46 million more than in 2021. In terms of volume, it reached 1,922 tons, a 44% increase from 2021 according to the Council of Agriculture.
These numbers still pale in comparison with Taiwan’s pet food imports. An October 2022 trade report from the US Foreign Agricultural Service, placed Taiwan’s total pet food imports from different countries at US$226.4 million in 2021, which is projected to grow on average by 8.5% for 2022 and this year.
It is the richly diverse pet supplements market, however, that is giving local producers a foot in the door, particularly to its neighboring countries with more or less similar pet rearing sensibilities. Primarily made from animal byproducts, the home-grown functional pet food and treats appeal to local pet owners looking for something both familiar and unique to their culture. Taiwan’s Department of Animal Industry agrees that it’s a segment of the industry worthy of attention as it proves to have both local and international potentials.
Taiwan pet food market forecast to exceed US$1.0 billion in 2022
Market research firm Euromonitor projects the Taiwan pet food market to be worth US$1.0 billion in 2022, a 63.8% increase from 2017 (US$613.0 million). The highly urbanized self-ruled democracy is expected to make room for more pets as some degree of “at home economy” that covers remote work and online school, is expected to continue even after the pandemic.
Even though the rate of pet ownership in Taiwan is slowly dropping in the last couple of years, the Council of Agriculture estimates there are over 2 million pet dogs and cats in Taiwan today that need constant feeding. As always, demand is rising for commercial pet food that offers best quality and convenience. However, local pet food and supplements producers can also make inroads to more markets if they learn to position their products as premium-grade, the council said.
Alma Buelva is a journalist from the Philippines. When she’s not writing about business and technology, she devotes her time to taking care of animals and writing about them, too.
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