Taiwan Pet Food Market - Growth, Trends and Forecast (2017-2022)
The market is characterized by the 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 a large living space and maintenance capability. The market growth is largely dependent on the thinking shift towards commercial products from the left overs and table scrapes. The traditional trends of late marriages and rising single households also apply to 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 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.
The Taiwan pet food market is segmented based on the product type, animal type, pricing and sales channels. The Pet meal segment is further segmented as dry and wet food, with dry food currently holding a maximum share. The Wet and Dry Foods are projected to reach €20.38 million and €83.13 million by 2020. In terms of Volume wet and dry food are estimated to account for 5.5 thousand metric tons and 25.7 thousand metric tons respectively by 2020. The Taiwanese are highly influenced by western lifestyles and see Pet care as a status of wealth. This is increasing Pet adoption rates by the ageing and single income population, thus driving demand for Pet meals. Changing demographic trends such as ageing population, low birth rates, delayed marriage, rising divorce rates have led to increased pet humanization. According to Taiwan city animal and protection office, the adoption rates of dogs and cats increased by 75% in 2013, after a movie ‘twelve nights’ on animal protection rights was screened. The Dog food accounts for XX% share of the market and is projected to reach $XX million by 2020, while cat food is projected to grow at a high CAGR of XX%, owing to pet owners’ preference for ease of maintenance and cats being cleaner than dogs.
Mars, Nestle, Uni-President Enterprises Corp, Fwusow Industry Products, and Hills Pet Nutrition are the major players in the region. The major strategy being adopted by companies have been the distribution channel network. The multinational companies are tying up with retailers, veterinary clinics and specialized pet shops instead of entering the market through wholesalers.
In this report we offer,
Market Definition for the specified topic along with identification of key drivers and restraints for the market.
Market analysis for the Taiwan Pet Food Market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
Identification and analysis of the Macro and Micro factors that affect the Taiwan Pet Food Market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Why should you buy this report?
For getting a comprehensive overview of the Taiwan Pet Food Market
To gain wide-ranging information about the major players in this industry and the strategies adopted by them.
To gain an insight about the major countries/regions in which this industry is blooming and also identify the regions, which are untapped.