Taiwan Animal Supplements Market - 2024-2027

The Taiwan Animal Supplements Market recorded a value of US$ 39.36 million in 2023 and is expected to reach a value of US$ 48.70 million in 2027, growing at a CAGR of 5.59% during the forecast period (2024-2027).

There is a growing recognition of the importance of maintaining long-term health through preventive measures rather than relying solely on treatments for illnesses. This trend is driving demand for supplements that support overall wellness, immune health, and longevity in pets and livestock. Consumers are increasingly looking for products that can help prevent common health issues, and skin conditions before they develop into more serious concerns.

For instance, on November 2, 2022, veterinary care was highlighted by the arrival of two leading experts from mainland China to assist with the treatment of Tuan Tuan, a giant panda at Taipei Zoo suffering from a rapidly progressing brain tumor. Since the tumor was diagnosed in September, the condition of the beloved panda has worsened significantly, prompting the zoo to seek specialized support.

According to Taiwan's Central News Agency (CNA), the experts, from the China Conservation and Research Center for the Giant Panda in Wolong, Sichuan Province, traveled to Taiwan to provide advanced care and expertise. Their involvement underscores the importance of cross-regional collaboration in veterinary medicine, particularly in cases involving endangered species like Tuan Tuan.

Market Drivers

Humanization of Pets

In Taiwan, pets are increasingly seen as integral members of the family, often receiving the same level of care and attention as human family members. This trend is profoundly influencing consumer behavior and, in turn, driving the demand for high-quality animal supplements. The willingness of pet owners to spend on these premium products underscores the importance of pets in their lives, making the animal supplement market a lucrative sector for growth.

Health-conscious consumers are willing to pay more for organic or personalized health products, pet owners in Taiwan are increasingly looking for high-end, tailor-made supplements that cater specifically to their pets' individual health needs. This has led to the development of products that target specific breeds, and health conditions, further expanding the market.

According to official data, Taiwan's pet-related businesses have experienced significant growth, with the number of such enterprises rising from 6,486 in 2018 to 8,335 in 2022 a nearly 30% increase. This surge in the pet industry, as reported by Liberty Times and based on figures from Taiwan’s Ministry of Finance, is also reflected in the financial performance of the sector. Sales of pet supplies escalated from NT$26.6 billion (€817 million/$864 million) to NT$38.7 billion (€1.19 billion/$1.25 billion) during the same period. Notably, while almost half of the cat products available in Taiwan are imported, only 30% of dog foods are sourced from other countries.

The pet population in Taiwan reached 2.22 million in 2022, including 1.4 million dogs and 820,000 cats, according to pet registration data from the Council of Agriculture (COA). The COA also reported a 44% increase in pet food exports in 2022, with exports surging by 377% over the past six years. Reflecting the growing trend of pet humanization, a Euromonitor report from May 2022 highlighted that the premiumization of pet care is on the rise, as many new pet owners in Taiwan treat their pets as family members or even as child substitutes.

Advances in Veterinary Care

The growing emphasis on preventive care in veterinary practices is contributing to the market's expansion. Veterinarians in Taiwan are increasingly advocating for the use of supplements as part of a preventive health strategy, aiming to prevent common health issues before they become serious. This shift towards prevention is being driven by the recognition that early intervention can significantly improve a pet's quality of life. As a result, there is a growing demand for supplements that support overall wellness, further boosting the Taiwan animal supplement market.

The integration of supplements into veterinary care is supported by ongoing research and development in the field of animal health. Advances in veterinary science are leading to the development of new and improved supplements that are more effective and have fewer side effects.

For instance, on February 22, 2024, National Chung Hsing University in Taiwan announced the development of a new medication, PCD-17, which promises to lower the cost of tumor treatment in pets. PCD-17 is an oral medication that can be administered at home, offering a more convenient and affordable option for pet owners. This breakthrough is particularly significant in Taiwan, where there are 3 million registered pets, highlighting the potential impact of this innovation on the country’s pet care industry. Taiwan Plus shared the news along with a video on X, underscoring the importance of this development.

Market Restraints

Low Veterinarian Support

In the Taiwan animal supplement market, the role of veterinarians is crucial for driving growth and adoption. Veterinarians often serve as trusted advisors to pet owners, providing recommendations for dietary supplements and other health products. When veterinary support is low, it can lead to several challenges for the market.

Limited veterinarian support can affect market growth by reducing the efficacy of promotional and educational campaigns. Veterinarians are instrumental in conducting outreach and providing information about new products. Without their active participation, marketing efforts may fall short, hindering the market's ability to reach and inform potential customers effectively.

The absence of sufficient veterinary support can impact the development of new products tailored to specific health needs. Veterinarians offer insights into the common health issues faced by pets, guiding the creation of supplements that address these concerns. Low veterinarian involvement can result in a mismatch between market offerings and the actual needs of animals, reducing the overall effectiveness and appeal of supplements.

Market Segment Analysis

The Taiwan animal supplements market is segmented based on animal type, ingredient, form, and distribution channel.

Growing Demand for Animal Health Products Drives Segment Growth

The livestock animals’ segment is expected to hold the largest share of the Taiwan animal supplements market. Taiwan’s agricultural sector relies on livestock farming, particularly pork and poultry, which are integral to the local food industry. As a result, there is a strong market demand for animal supplements that enhance the overall well-being of livestock. This demand is further driven by the increasing awareness among farmers and producers about the benefits of animal supplements in promoting growth.

The use of supplements to improve feed efficiency and boost livestock productivity is increasingly seen as a cost-effective strategy to maximize outputs while minimizing inputs. This is particularly important in Taiwan, where land and resources for livestock farming are limited. By optimizing feed conversion and ensuring healthier animals, livestock producers can increase their yield without expanding their operations, making supplements a valuable tool for achieving greater efficiency.

For instance, on March 14, 2024, At Victam Asia/Health & Nutrition Asia 2024, Taiwanese premix company BiomiXin Co., Ltd. announced plans to begin constructing a new production facility at its current site in Changjhih Township, Pingtung County. This $1 million investment will focus on producing small 1kg packages, catering specifically to the needs of customers in the aquaculture and livestock markets.

Sustainability Analysis

The sustainability analysis of the Taiwan animal supplements market highlights a growing emphasis on eco-friendly practices and responsible resource management, reflecting broader market trends toward environmental stewardship in the agricultural sector. By improving the digestion and nutrient absorption of animals, these supplements can help reduce waste, lower methane emissions, and decrease the overall demand for feed, contributing to a more sustainable livestock industry in Taiwan.

The market is also witnessing a growing preference for natural and organic supplements, which aligns with Taiwan's broader movement toward sustainable agriculture. As Taiwanese farmers and producers seek to reduce their reliance on synthetic additives, antibiotics, and growth promoters, the market for plant-based or probiotic animal supplements has expanded. These natural supplements not only support animal health but also minimize the environmental impact of chemical runoff and soil degradation associated with traditional farming methods.

Unmet Needs

While general animal supplements are available, there is a notable gap in products designed to address specific health issues in pets and livestock. This gap presents a significant opportunity for market growth, as consumers and veterinarians are increasingly seeking supplements that provide targeted benefits tailored to individual animal needs. Addressing this unmet need could drive innovation and expand the market by offering more effective and customized solutions.

There is a growing demand for supplements backed by robust clinical research and evidence demonstrating their efficacy and safety. However, many products in the market lack comprehensive scientific validation, which can undermine consumer confidence and hinder market expansion. Filling this gap requires greater investment in research and development to produce high-quality supplements that are supported by credible studies.

Competitive Landscape

The major players in the market include Far East Bio-Tec Co., Ltd., Singen Animal Health Industry Co., Ltd., LAI-LI INTERNATIONAL CO., LTD. (Dr. Wami), Vetco Pharmaceuticals Inc., Yin Bao Pet Health Enterprise Co., Ltd. (Blue Bay) and Hi-Q Marine Biotech International Ltd.

By Animal Type
• Livestock Animals

o Cattle

o Poultry

o Swine

o Horses

o Others
• Companion Animals

o Cats

o Dogs

o Birds

o Other small mammals

By Ingredient
• Vitamins & Minerals
• Amino Acids
• Omega Fatty Acids
• Probiotics & Prebiotics
• Botanicals
• Others

By Form
• Powder
• Liquid
• Tablets/Capsules
• Others

By Distribution Channel
• Online Retailers
• Specialty Pet Stores
• Veterinary Clinics
• Convenience Stores
• Supermarkets/Hypermarkets
• Pharmacies and Drug Stores
• Other Distribution Channels

Key Developments
• On March 14, 2024, At Victam Asia/Health & Nutrition Asia 2024, Taiwanese premix company BiomiXin Co., Ltd. announced plans to begin constructing a new production facility at its current site in Changjhih Township, Pingtung County. This $1 million investment will focus on producing small 1kg packages, catering specifically to the needs of customers in the aquaculture and livestock markets.
• On March 21, 2023, Ainos, Inc. announced a new distribution partnership with Topmed International Biotech Co., Ltd., a prominent Taiwanese biotech company. As part of this agreement, Topmed will serve as the exclusive distributor in Taiwan for Ainos' pet supplements, VELDONA, which utilize low-dose oral interferon-alpha formulations. The supplements are specifically designed to enhance immunity and dental health in cats and to support immunity and skin health in dogs
• On May 30, 2023, Ainos, Inc. announced the launch of its VELDONA Pet cytoprotein health supplements. The product line will debut in Taiwan in June, with plans for expansion into additional markets shortly. Ainos has several new VELDONA Pet products in development and is targeting approximately US$20 million in revenues from the VELDONA Pet line during 2024, driven by a growing product portfolio and market expansion.

Why Purchase the Report?
• To visualize the Taiwan animal supplements market segmentation based on animal type, ingredient, form, and distribution channel, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Taiwan animal supplements market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Taiwan animal supplements market report would provide approximately 30 tables, 35 figures, and 210 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies