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Learn moreMay 2020
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Taiwan’s pet care market continued to enjoy strong growth in 2020, driven by higher demand not only for dog and cat food but also for pet products and by rising interest among Taiwanese youngsters in raising small mammals such as rabbits. Moreover, the number of households with dogs and cats keeps growing, with cats and small dogs particularly favoured given the prevalence of smaller living spaces in dense urban areas and the fact that cats, especially, require much lower maintenance.
With their wide access and general openness to information and ideas gained through the Internet, pet-loving millennials are strong targets for pet care players in Taiwan, and particularly for small or new brands of pet food and pet products seeking to quickly gain brand recognition and grow sales. Younger consumers are accustomed to exploring the Internet for product and price options and are less inclined than older consumers are to automatically choose familiar major brands – for instance, when looking for dog food.
Two multinational players maintained the leading value shares in pet care in 2019: Mars, which remains the leading player in both dog and cat food with its mid-priced and premium products, and which is slowly gaining ground in pet products, and Hill’s Pet Nutrition, which offers premium pet food. Taiwanese consumers are gaining greater awareness of the need to feed their pets quality products when they can afford to, and they respond especially well to more targeted products offering specific benefits and features.
The value share of pet care through e-commerce continued to rise in 2020, with both pet food and pet products generating approximately a quarter of the total value sales in the Taiwan market. While pet shops and modern grocery retailers remained the dominant distribution channels for pet food, the value share of e-commerce has exceeded that of modern grocery retailers in pet products since 2013.
Over the forecast period, pet care is expected to see a current value CAGR that exceeds the review period CAGRs for both pet food and pet products. However, while pet care is predicted to continue recording strong value growth, volume growth is expected to slow down compared to what was seen over the review period due to some categories within pet food approaching saturation.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Pet Care industry in Taiwan with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Pet Care industry in Taiwan, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Pet Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.