Key regions: Spain, Canada, Japan, South Korea, Russia
The Confectionery Market in Taiwan is experiencing minimal growth, influenced by factors such as consumer preferences for healthy snacks, increasing competition from other food categories, and changing demographics. The sub-markets within this market are also facing challenges, such as rising ingredient costs and changing consumer demands for more diverse options. Overall, these factors contribute to the slow growth rate of the Confectionery Market in Taiwan.
Customer preferences: With the rise of health consciousness and increasing concern for sustainability, there has been a growing demand for healthier and more environmentally friendly snacks in Taiwan's confectionery market. Consumers are gravitating towards products with natural and organic ingredients, as well as those with reduced sugar and fat content. This trend is driven by a desire for healthier indulgences and a shift towards more sustainable food choices. Additionally, there has been a rise in demand for snacks that cater to specific dietary restrictions, such as gluten-free and vegan options.
Trends in the market: In Taiwan, the Confectionery market is seeing a shift towards healthier options, with consumers increasingly demanding low-sugar and organic products. This trend is driven by a growing health-conscious population and government initiatives promoting healthy eating. Additionally, there is a rising demand for convenient, on-the-go snacks, leading to the introduction of innovative packaging and flavors. These trends are expected to continue, creating opportunities for stakeholders to tap into the growing demand for healthier and convenient confectionery products in the market.
Local special circumstances: In Taiwan, the Confectionery Market is heavily influenced by the country's unique cultural preferences and tastes. Traditional Taiwanese snacks, such as pineapple cakes and mochi, dominate the market, reflecting the strong influence of Chinese and Japanese cuisine. Additionally, the government's strict regulations on food safety and labeling play a significant role in shaping consumer trust and purchasing decisions. This, combined with the country's strong emphasis on health and wellness, has led to a growing demand for healthier, plant-based alternatives in the Confectionery & Snacks Market.
Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is greatly impacted by macroeconomic factors such as consumer spending, GDP growth, and inflation rates. Countries with a strong economy and high consumer spending power tend to have a higher demand for confectionery products. Additionally, favorable fiscal policies such as tax breaks and subsidies for food manufacturers can also influence market growth. However, economic downturns and rising inflation rates can decrease consumer spending and negatively affect market performance. Furthermore, global economic trends, such as changing consumer preferences and the rise of e-commerce, can also impact the Confectionery Market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).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, and consumer price 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 Food 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. The market is updated twice a year.
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Mon - Fri, 10:00am - 6:00pm (JST)
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Mon - Fri, 9am - 6pm (EST)
