The number of pets in Taiwan has likely surpassed that of children, while the pet industry has grown to NT$63.1 billion (US$1.98 billion), the Taiwan Institute of Economic Research (TIER) said last week.
Due to the falling birthrate and societal changes, Taiwan has probably reached the “golden cross” of the pet-to-children ratio, the institute said at the Animal Precision Nutrition International Forum on Tuesday last week, after announcing that there could be more pets than children younger than 15.
The Ministry of Agriculture’s survey of domestic dogs and cats last year showed that Taiwan had more than 1.48 million dogs and 1.31 million cats, an increase of 19 and 50 percent respectively compared with the 2021 survey.
Photo: New Taipei City Animal Protection and Health Inspection Office
The ministry performs the survey every two years.
The number of pets is likely to increase, said Liu Yi-chen (劉依蓁), head of TIER’s seventh research division.
Pet food makes up nearly half of sector spending at NT$30.8 billion, with conventional pet food worth NT$25.6 billion, Liu said.
The fastest growing vertical is pet food supplements, worth NT$5.1 billion, she said.
A 2018 survey by the institute found that when purchasing food supplements, owners pay close attention to their pets’ medical needs and history, as well as the supplements’ efficacy and safety, she said.
Owners did not generally discern between foreign and domestic products, and price was not a determining factor, she added.
The 2018 survey also found that supplements were used to improve pets’ coats, bones, joints, teeth and gastrointestinal health, she said.
The potential market for supplements targeting issues such as canine kidney health, cardiovascular wellness and pet weight issues is untapped, she added.
To improve pet food safety, the Ministry of Agriculture has announced a draft of a “pet food management act,” the first time the government would seek to regulate the production, packaging and sale of pet food.
The draft calls for pet food factories to apply for licensing, establish independent tracing systems and obtain liability insurance.
If the act does not face any objections during the 60-day notice period, it would move on to the Executive Yuan for approval before it is sent to the Legislative Yuan.
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