Taiwan Pet Food Market – Market Opportunities Exist for U.S. Product
Report Highlights:
In 2012, Taiwan’s total pet food imports continued their record-setting trajectory, reaching an all-time high of nearly US$110 million, a nine percent increase from 2011. The United States continues to be the leading supplier with a 33% market share. Despite increasing competition, U.S. pet food brands are commonly viewed as being significantly higher quality and market opportunities still exist. The attention to - and willingness to pay for - high quality product is representative of the larger trend in the Taiwan market where pets are treated as valued family members.
General Information:
I. Market Overview
In 2012, Taiwan’s total pet food imports continued their record-setting trajectory, reaching an all time high of nearly US$110 million, a nine percent increase from 2011. The value of Taiwan’s pet food (dog and cat food for retail sale) imports have tripled over the past ten years, growing from $36 million in 2002 to nearly $110 million in 2012. The United States continues to be the leading supplier with a 33% market share. Despite increasing competition on both ends of the retail price spectrum, unexplored and undeveloped market opportunities exist. U.S. pet food brands are commonly viewed as being significantly higher quality with quality being the primary factor in a Taiwan pet owner's decision to purchase a more expensive product. The attention to - and willingness to pay for - high quality product is representative of the larger trend in the Taiwan market where
pets are increasingly treated as valued family members.
