Ready-to-Eat Meals - Taiwan

Taiwan

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$5.77bn in 2024. The market is expected to grow annually by 3.96% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$241.00 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 1.06bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 3.7% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 37.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals market in Taiwan is experiencing minimal growth, influenced by factors such as the convenience of pre-packaged meals and shifting consumer preferences. This is driving the overall growth of the Convenience Food market within The Food market.

Customer preferences: As consumers in Taiwan continue to lead busy lifestyles, the demand for convenient and time-saving food options has risen. This has resulted in a notable shift towards ready-to-eat meals in the Convenience Food Market within The Food market. Additionally, with the rise of single-person households and working professionals, there has been a growing preference for smaller portion sizes and individually packaged meals. This trend is also influenced by the cultural value of food safety and freshness, with consumers opting for ready-to-eat meals that are freshly prepared and conveniently available.

Trends in the market: In Taiwan, the Ready-to-Eat Meals Market within the Convenience Food Market is experiencing a surge in demand due to the fast-paced lifestyle of consumers. This has led to the emergence of innovative packaging and diverse product offerings, catering to different dietary preferences and health concerns. Additionally, there is a growing trend of incorporating technology in the production and distribution process, such as using blockchain for supply chain management. These trends signify a shift towards convenience and efficiency in the food industry, presenting opportunities for stakeholders to tap into new markets and improve customer experience. However, it also poses challenges in terms of maintaining food safety and addressing concerns over the environmental impact of single-use packaging. As such, industry players need to stay updated on these trends and adapt accordingly to remain competitive in the Ready-to-Eat Meals Market.

Local special circumstances: In Taiwan, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily influenced by the country's unique geographical and cultural factors. With a mountainous terrain and a strong emphasis on convenience, Taiwanese consumers have a high demand for easy-to-prepare meals that can be eaten on-the-go. Additionally, the government's strict food safety regulations have led to a rise in the production of safe and healthy ready-to-eat meals, making it a popular choice among health-conscious consumers.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in Taiwan is influenced by various macroeconomic factors. One of the major factors is the growing trend of urbanization and busy lifestyles, leading to a higher demand for convenient and time-saving food options. Furthermore, the increasing disposable income and changing dietary habits of consumers are also contributing to the growth of this market. Additionally, government initiatives promoting healthy eating and food safety regulations are driving the demand for ready-to-eat meals in Taiwan. Moreover, the rising health consciousness among consumers and the growing popularity of online food deliveries are further fueling the growth of this 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.