According to statistics of Taiwan’s Ministry of Finance, the number of pet-related companies has risen by 30% from from 6,486 in 2018 to 8,335 last year.
The official figures, referred to by Liberty Times, have revealed a pet supplies sales increase from NT$26.6 billion (€817M/$864M) to NT$38.7 billion (€1.19B/$1.25B).
Around 50% of the cat products come from import whereas only 30% dog foods are manufactured in a third country.
The Council of Agriculture (COA) had a registered pet population of 2.22 million in 2022 (1.4 million dogs and 820,000 cats). The COA has also published the proportion of the country’s pet food exports increased by 44% last year. Across 6 years, exports have risen by 337%.
According to a Euromonitor report of May 2022: “Premiumization of pet care continues to grow in line with the pet humanization trend in Taiwan, as many new pet owners treat their pets as family members or even substitutes for children.”
As to a report from Research and Markets, Taiwanese pet owners rather choose pet foods that suit their pets‘ specific needs. “This has resulted in a higher demand for premium and super-premium pet food,” it concluded.
The latest official data found out that the Taiwanese pet population will outnumber children’s in the next 4 years.