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Determined to Boost the Development of Pet Economy, Taiwan Participates for the First Time in Pet Fair Asia 2015
In order to help Taiwan’s agro-businesses gain a share of the global pet market which is expected to exceed the value of US$100 billion in 2015, the Council of Agriculture (COA) entrusted the Agricultural Technology Research Institute (ATRI) to lead a delegation of enterprises in the field of pet food, medicine, and commodities to participate in Pet Fair Asia 2015 which was held from August 27 to 30 in China. By participating, Taiwan aims to enhance the visibility and popularity of its agro-business sector in order to expand the international retailing channels in target markets.
Pet economy continues to grow globally
The COA pointed out that in recent years, there is a gradual increase in the number of small families, singles, and senior citizens every year. It is estimated that pet market will enjoy a 5% growth worldwide in five years. Investigative reports show that the number of pets in China, which shares a similar cultural background and consumer trend with Taiwan, has reached 120 million in 2013. An increase of 9 times in 10 years is observed, which contributed to sales revenue of up to 60 billion RMB. For the next 5 years, the Chinese market will be the fastest growing pet market in the world. If its annual growing rate of 10% persists, it will be the largest pet market in Asia in ten years.
A trade delegation led by the Agricultural Technology Research Institute participated in the international Pet Fair
In order to secure business opportunities that China’s pet market has to offer, the COA has entrusted the Agricultural Technology Research Institute (ATRI) with the task of selecting relevant companies to participate in international pet shows. The first event on the list was Pet Fair Asia 2015 taking place at the Shanghai World Expo Exhibition & Convention Center in August. The Fair is regarded as one of the most important pet industry exhibitions in China which attracted 650 exhibitors from 28 countries and 17,000 professional visitors from 43 countries in 2014. In 2015, the ATRI showcased innovative and outstanding products from 7 companies at Taiwan Pavilion. Moreover, the ATRI also arranged business visits to local retailers. All aims to promote Taiwan’s booming pet industry and Taiwanese pet industry’s innovative R&D capability.
Taiwan Pavilion shined in Pet Fair Asia 2015
Exhibited products for pets on display included repellent, skin auxiliary medical care, health food, advanced feed / food, testing and fashion accessories. The vast range of products with strong complementarity, along with the distinctive image design of Taiwan Pavilion surely attract many professional buyers, local suppliers, distributors and consumers to visit. The event is expected to generate an estimated output value of over NT$50 million.