Key regions: South Korea, Russia, Canada, Philippines, China
The Fresh Meat market in Taiwan is experiencing minimal growth due to factors such as increasing health consciousness among consumers, convenience of online meat shopping, and adoption of digital technologies. This growth rate is impacted by competition within the sub-markets of Beef & Veal, Pork, Poultry, Mutton & Goat, and Other Fresh Meat.
Customer preferences: As Taiwanese consumers become more health-conscious and environmentally aware, there is a growing demand for sustainably-sourced and organic fresh meat products. This trend is driven by a desire for healthier and more ethical food choices. Additionally, there has been a shift towards smaller portion sizes and alternative protein sources, such as plant-based meat substitutes, reflecting a growing interest in flexitarian and vegetarian diets. These changing consumer preferences are also influenced by the increasing influence of Western culture and global food trends in Taiwan.
Trends in the market: In Taiwan, the Fresh Meat Market of the Meat Market within The Food market is experiencing a shift towards sustainable and ethical practices. Consumers are increasingly demanding transparency and traceability in their meat purchases, leading to a rise in demand for locally sourced and organic meat. This trend is expected to continue as more consumers prioritize health and environmental concerns in their food choices. Industry stakeholders will need to adapt to these changing preferences and invest in sustainable production methods to remain competitive in the market. Additionally, there is a growing trend of meat alternatives, such as plant-based and lab-grown meat, which could disrupt the traditional meat market in the future.
Local special circumstances: In Taiwan, the Fresh Meat Market within the Meat Market of The Food market is heavily influenced by the country's unique cultural and regulatory landscape. Due to cultural preferences and traditional food practices, pork is the most consumed meat in Taiwan. This has led to the development of a diverse and competitive pork market, with a strong focus on quality and safety regulations. Additionally, Taiwan's geographical location and close proximity to China play a significant role in the import and export of meat products, shaping the dynamics of the Fresh Meat Market.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Taiwan is heavily influenced by macroeconomic factors such as consumer purchasing power, trade policies, and international market demand. As a small island nation heavily reliant on imports for its meat supply, Taiwan's Fresh Meat Market is significantly impacted by global economic trends and trade agreements. Additionally, the country's economic health and fiscal policies also play a role in shaping the market, as they determine consumer spending and market stability. Moreover, changes in consumer preferences and demands, as well as fluctuations in international meat prices, also affect the performance of the Fresh Meat Market in Taiwan.
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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