Spirits - Taiwan | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$3.8bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$534.1m in 2024.
Revenue, combined amounts to US$4.3bn in 2024.
The revenue, at home is expected to grow annually by 1.81% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$146bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$158.80 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 368.2m L by 2024.
Volume, out-of-home is expected to amount to 27.1m L in 2024.
Volume, combined is expected to amount to 395.3m L in 2024.
The Spirits market is expected to show a volume growth, at home of 0.2% in 2025.0.
The average volume per person, at home in the Spirits market is expected to amount to 15.37L in 2024.

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Whisky, such as Jack Daniel's Tenessee Whiskey
Vodka, such as Absolut Vodka
Rum, such as Bacardi Rum
Gin, such as Ginebra San Miguel
Brandy, such as Ararat Brandy

Wine, such as Red Wine
Beer, such as Budweiser
Non-Alcoholic Spirits, such as Tanqueray 0.0

The Spirits market in Taiwan has experienced significant growth in recent years, driven by changing consumer preferences and a growing economy.

Customer preferences: Taiwanese consumers have shown an increasing interest in premium and high-quality spirits, particularly whiskey and craft spirits. This shift in preference can be attributed to a growing middle class with higher disposable incomes, as well as a desire for unique and artisanal products. Additionally, there has been a rise in cocktail culture and the popularity of mixology, leading to increased demand for spirits that can be used in creative and innovative cocktails.

Trends in the market: One of the key trends in the spirits market in Taiwan is the growing popularity of whiskey. Taiwanese consumers have developed a taste for premium and aged whiskies, both domestic and imported. This trend can be attributed to the rise of whiskey appreciation clubs and events, as well as the influence of international whiskey brands. Another trend in the market is the increasing demand for craft spirits, including small-batch gins, vodkas, and rums. Taiwanese consumers are seeking unique and locally produced spirits that offer a distinct flavor profile and story.

Local special circumstances: Taiwan has a unique drinking culture that has contributed to the growth of the spirits market. The country has a strong tradition of drinking during social gatherings and celebrations, which has created a demand for a wide range of spirits. Additionally, Taiwan has a thriving bar and nightlife scene, with a growing number of cocktail bars and speakeasies. This has created a market for premium spirits and innovative cocktails, driving the growth of the spirits industry.

Underlying macroeconomic factors: The growth of the spirits market in Taiwan can also be attributed to the country's strong economic performance. Taiwan has experienced steady economic growth in recent years, which has led to an increase in disposable incomes and consumer spending. This has allowed consumers to trade up to premium spirits and indulge in higher-end products. Additionally, the tourism industry in Taiwan has been booming, with an influx of international visitors. This has created a demand for spirits, particularly those that are unique to Taiwan, as tourists seek to experience the local culture and flavors. In conclusion, the spirits market in Taiwan has experienced significant growth due to changing consumer preferences, a thriving bar scene, and a strong economy. Taiwanese consumers are increasingly interested in premium and high-quality spirits, particularly whiskey and craft spirits. The country's unique drinking culture and strong economic performance have also contributed to the growth of the market. As consumer tastes continue to evolve and the economy remains strong, the spirits market in Taiwan is expected to continue to thrive.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The term “spirits” refers to an alcoholic beverage that has been distilled, contains no added sugar, and has at least 20 percent alcohol by volume. The term is derived from the medieval practice of alchemy and refers to the essential liquid element obtained from a substance through distillation, the “spirit” of the substance, so to speak. Popular spirits include whiskey, rum, vodka, tequila, and gin, among others.