Cider, Perry & Rice Wine - Taiwan

The Cider, Perry & Rice Wine market in Taiwan has experienced significant growth in recent years.

Customer preferences: Taiwanese consumers have developed a growing taste for alcoholic beverages beyond traditional options like beer and spirits. This has led to an increased demand for products like cider, perry, and rice wine. These beverages offer unique flavors and characteristics that appeal to a wide range of consumers. Additionally, there is a growing interest in exploring different types of alcoholic beverages, and cider, perry, and rice wine provide an alternative to more mainstream options.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Taiwan is the rise in craft and artisanal products. Consumers are increasingly seeking out unique and high-quality beverages, and this has created opportunities for smaller producers to enter the market. These craft products often emphasize local ingredients and traditional production methods, appealing to consumers looking for authentic and distinctive experiences. Another trend in the market is the increasing popularity of fruit-based ciders and perrys. Taiwanese consumers are drawn to the natural and refreshing flavors that fruit-infused ciders and perrys offer. This trend aligns with the broader global movement towards healthier and more natural products, as consumers are becoming more conscious of what they consume.

Local special circumstances: Taiwan has a rich agricultural heritage, with a variety of fruits and grains being grown locally. This provides a unique advantage for the Cider, Perry & Rice Wine market, as producers can source high-quality ingredients locally. Additionally, Taiwan has a strong culinary culture, and consumers are open to trying new and innovative flavors. This creates a favorable environment for the development of new products and flavors in the market.

Underlying macroeconomic factors: Taiwan has experienced steady economic growth in recent years, which has contributed to an increase in disposable income among consumers. This has allowed consumers to explore different types of alcoholic beverages and indulge in premium products. Furthermore, Taiwan has a well-developed tourism industry, attracting visitors from around the world. These tourists often seek out local products and experiences, providing an additional boost to the Cider, Perry & Rice Wine market. In conclusion, the Cider, Perry & Rice Wine market in Taiwan is experiencing growth due to changing customer preferences, including a desire for unique and high-quality beverages. The market is also influenced by local special circumstances, such as the availability of locally sourced ingredients and a strong culinary culture. Underlying macroeconomic factors, such as steady economic growth and a thriving tourism industry, further contribute to the market's development.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.