TAIPEI (Taiwan News) — Pet-related sales in Taiwan have increased by 49% over the past four years and the number of domestic dogs and cats now exceeds 2 million, new statistics show.

As of 2022, the number of registered canines and felines stood at 1.4 million and 820,000, respectively. There is a growing preference for cats, with only Hualien, Taitung, Pingtung, Chiayi, and Tainan recording more registrations of dogs last year, wrote Liberty Times, citing the Ministry of Finance.

Pet-related businesses grew from 6,486 in 2018 to 8,335 in 2022, representing 30% growth. Sales skyrocketed from NT$26.6 billion (US$870 million) to NT$38.7 billion during the same period, mostly centered on merchandise involved in the various aspects of raising a furry companion.

The sources of food for dogs and cats also vary. Nearly 50% of cat products available are imported, while only 30% of dog foods are introduced from abroad.

Taiwan is seeing a trend where people are growing more fond of keeping a pet rather than rearing a child. In a Ministry of the Interior report last year, the country added 170,000 registered pets in the first nine months, when newborns in the same period were estimated at less than 140,000, per Upmedia.

The country had a population of 23.3 million as of January. Its population has shrunk for three years in a row since 2020 due to low birth rates.