Rising incomes and Western influences are supporting a noticeable trend for pet humanisation in Taiwan, with local consumers treating their pets as part of the family. This has led to the strong overall performance of pet care in 2019.
While millennials do not possess the highest purchasing power in Taiwan, they do hold strong opinions about certain subjects, and are highly influential, especially through the power of social media. Their shared opinions online regarding certain products can have a significant impact on consumers’ decisions, as many Taiwanese have limited understanding of proper pet care and appreciate and search for insightful recommendations.
Pet care continues to be led by multinationals Mars Inc, which is still gaining ground due to its position in both dog and cat food where it offers mid-priced and premium 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, especially for more targeted products offering specific benefits and features.
While pet shops and modern grocery retailers remained dominant distribution channels for pet care in Taiwan in 2019, internet retailing continued to gain ground and record strong current value growth. Online shopping is becoming increasingly developed in Taiwan, with strong internet penetration; local consumers therefore understand that the channel offers many benefits, including a wide variety of products that may not be found in store-based retailers due to limited shelf space or are not as well-known as the major brands.
Pet care is predicted to continue to record strong current value growth over the forecast period, although this will be marginally slower than the review period current value CAGR. This will be linked to approaching saturation for some categories within pet food.
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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.
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This industry report originates from Passport, our Pet Care market research database.