Taiwan Animal Feed Market - Forecasts from 2020 to 2025

Taiwan Animal Feed market is projected to grow at a CAGR of 3.34% to reach a value of US$1.632billion by 2025, from US$1.341billion in 2019.

Increasing awareness among the livestock farmers and the rising consumption of meat and seafood.

Taiwan is under the influence of a maritime climate, which means that it has high temperature and humidity, but still, the poultry and animal breeding and other livestock activities are not hindered by these factors. As a result of economic development, the propensity to spend among the individuals has risen and is allowing them to consume quality meat. Consequently, the consumption and of beef is increasing in Taiwan and it is being driven by changing preferences of the young adult population towards western-style foods. So in order to meet the growing demand for beef, Taiwan has to rely on beef exports from countries such as the United States, Australia, and New Zealand as beef production in Taiwan is negligible. According to the U.S. International Trade Association, the exports of beef to Taiwan reached more than $500,000 in value and 57, 3030 metric tons in volume. In addition, the demand for seafood is also increasing in Taiwan, with Taiwan an increasing number of individuals are consuming different types of seafood items including Tilapia, Mollusks, Tuna among others. In conjunction, Taiwan is among one of the major contributors to trade in various seafood items globally, so it has to maintain and provide quality. This has resulted in an increasing demand for animal feed for fisheries and aquaculture in order to improve their health and provide good quality seafood.

Product offerings in the Taiwan Animal Feed Market

The market players are increasingly participating and involved in the market through product offerings, in order to cater to the rising demand among the consumers effectively and to contribute to the growth of the market over the forecast period.

Some of the examples of product offerings are mentioned below-
Taiwan Hung Kuo Industrial Co., Ltd., which is the parent company of the Lucky Star Group and is involved in the manufacture and the supply of high quality, formulated feed for mainly aquaculture species. The company Taiwan Hung Kuo Industrial Co., Ltd. launched its brand called “Lucky Star” in order to distribute its products globally. They offer a wide variety of products for fish and shrimp feed in different stages. They offer Initial S, which is used in the hatchery stage. This product improves the survival rate and the growth of the fish, is developed with uniform particle size and is developed to be used in the hatchery stage. Other products offered under the nursery and grow-out stages are Alpha EP (EP0-EP3) and Alpha Health+ (EP4-EP8). Some of the shrimp feed product they offer is Larval Plus, which is for shrimp larvae and contains a formula that is specifically developed for the rearing of P.Japonicus shrimp and the Grow out, which is a product for the tiger prawns and is developed in order to enhance the survival rate of the Penaeid shrimp species.

Segmentation

By Type

• Fodder
• Forage
• Compound Feed

By Livestock

• Cattle
• Swine
• Poultry
• Aquatic Animals
• Others

By Source

• Organic
• Conventional

By Form

• Liquid
• Dry

By Production Systems

• Integrated
• Commercial mills

By Raw Material

• Cereals & grains
• Wheat
• Maize
• Barley
• Oilseeds
• Soybean
• Rapeseed
• Others
• Pulses
• Others