Industry: Retail and Consumer | Publish Date: 23-Nov-2024 | No of Pages: 117 | No. of Tables: 85 | No. of Figures: 50 | Format: PDF | Report Code : RC2844
The Taiwan Pet Food Ingredients Market size was valued at USD 504.2 million in 2023, and is predicted to reach USD 1226.9 million by 2030, at a CAGR of 13.0% from 2024 to 2030. In terms of volume the market size was 134.74 kilotons in 2023 and is projected to reach 260.46 kilotons in 2030, with a CAGR of 9.4% from 2024 to 2030.
The pet food ingredients market involves the production and supply of essential raw materials used in pet food formulations to satisfy the nutritional needs of various animal species. These ingredients that include proteins, carbohydrates, fats, vitamins, and minerals, are derived from both plant and animal sources.
The processing methods such as grinding and blending are employed to enhance the flavour and nutritional profile of the final products. By using premium-grade ingredients, manufacturers support pet health and provide essential nutrients for pets with specific dietary needs. The companies in this market emphasize sourcing high-quality ingredients and maintaining transparency in their supply chains, ensuring product quality and consumer trust. This strategic approach enhances market growth as more pet owners seek superior food options for their animals.
The growth in pet ownership in Taiwan, driven by a rising pet population and more families adopting pets, accelerates the development of the pet food ingredients market. This leads to the demand for superior pet food increases, encouraging producers to source premium ingredients to address pets' nutritional needs.
Subsequently, this trend boosts the demand for a range of organic and inorganic ingredients in pet food production. As per the latest report published by the Radio Taiwan International, in May 2024, the Agricultural Ministry announced Friday that the total number of domestic cats in Taiwan rose by 50% compared to 2023, while the number of pet dogs grew by 19%.
The growing pet population in Taiwan is fuels an increasing pet adoption, that in turn propels the market's growth for nutritious and specialized pet food in response to the expanding number of pets.
The rising demand for sustainable pet food among pet owners drives the growth of the pet food ingredient market as consumers place greater emphasis on eco-friendly options. This shift compels manufacturers to source sustainable ingredients such as plant-based proteins and organic grains, directly contributing to the increased demand for these resources.
For instance, in September 2024, the Pet Sustainability Coalition (PSC) partnered with HowGood to leverage the world's largest sustainability database for food ingredients. This collaboration seeks to equip PSC members with data-driven insights to optimize ingredient sourcing and lower carbon emissions within the pet food supply chain.
The restricted availability of resources limits the advancement of the pet food ingredient market as the demand for premium and sustainable ingredients grows, suppliers face challenges in obtaining adequate supplies. The elements such as the overuse of natural resources, climate change, and disruptions in supply chains lead to deficiencies in essential ingredients such as fish and specialized grains, hinders the market's capacity to fulfill consumer requirements.
The transition to sustainable protein sources such as egg-derived proteins, tofu byproducts, black soldier flies, and silkworms is expected to create new opportunities in the pet food ingredient market. These alternatives are increasingly recognized for their rich nutritional content and lower environmental impact when set against traditional proteins including beef and pork.
Egg proteins and tofu derivatives provide nutrients and helps to reduce food waste. Moreover, insect proteins from black soldier flies and silkworms provide an organic and environmentally friendly method of protein production. These sustainable options not only fulfill pets’ dietary requirements but also support the adoption of sustainable practices, encouraging the industry towards environmentally responsible production and long-term sustainability.
The several market players operating in the Taiwan pet food ingredients market include Cargill Incorporated, BASF SE, Archer Daniels Midland Company (ADM), Koninklijke DSM N.V., Mowi ASA, Kemin Industries Inc., FirstMate Pet Foods, Singen Animal Health Industry Co. Ltd., Roquette Freres, Portland Pet Food Company, and others.
Non-Vegan
Beef
Chicken
Fish
Others
Vegan
Soyabeans
Peas
Lentils
Others
Novel Proteins
Organic
Inorganic
Dry
Wet
Dog
Cat
Others
Online
Offline
Cargill Incorporated
BASF SE
Archer Daniels Midland Company (ADM)
Koninklijke DSM N.V.
Mowi ASA
Kemin Industries Inc.
FirstMate Pet Foods
Singen Animal Health Industry Co. Ltd.
Roquette Freres
Portland Pet Food Company
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 504.2 Million |
Revenue Forecast in 2030 |
USD 1226.9 Million |
Growth Rate |
CAGR of 13.0% from 2024 to 2030 |
Market Volume in 2023 |
134.74 Kilotons |
Volume Forecast in 2030 |
260.46 Kilotons |
Growth Rate (Volume) |
CAGR of 9.4% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2024 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
|
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |