Sweeteners - Taiwan | Statista Market Forecast

The Sweeteners Market in Taiwan's Food Market is experiencing minimal growth, influenced by factors such as health consciousness, increasing use of digital technologies, and convenience offered by online services. This is seen in the sub-markets of Honey, Sugar, and Artificial Sweeteners.

Customer preferences: Consumers in Taiwan are becoming more health-conscious and are opting for natural and low-calorie sweeteners to reduce their sugar intake. This trend is driven by the rise in chronic health conditions such as diabetes and obesity. Additionally, there is a growing preference for plant-based and organic sweeteners, aligning with the cultural emphasis on natural and traditional remedies. As a result, the market is witnessing a shift towards alternative sweeteners like stevia, coconut sugar, and monk fruit extract.

Trends in the market: In Taiwan, the Spreads & Sweeteners Market within The Food market is seeing a shift towards more natural and organic sweeteners, driven by growing health consciousness among consumers. This trend is expected to continue in the coming years, with manufacturers launching new products to cater to this demand. Additionally, there is a growing emphasis on sugar reduction, leading to the development of innovative low-sugar and zero-calorie sweeteners. These trends have significant implications for industry stakeholders, as they need to adapt their product offerings and marketing strategies to meet the changing consumer preferences. Furthermore, the increasing availability of natural and healthier sweetener options is expected to drive growth in the market, creating opportunities for new players to enter the market.

Local special circumstances: In Taiwan, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the government's strict regulations on food additives. Due to health concerns, the use of artificial sweeteners is limited, leading to a high demand for natural sweeteners such as stevia and monk fruit. Additionally, the country's strong tea culture has sparked the emergence of unique sweeteners, such as honey from Taiwan's endemic mountain flowers. These local factors contribute to the dynamic growth of the sweeteners market in Taiwan.

Underlying macroeconomic factors: The performance of the Sweeteners Market in the Spreads & Sweeteners Market within The Food market is largely impacted by macroeconomic factors such as consumer spending power, government regulations, and economic stability. In Taiwan, the market is influenced by the country's strong economic growth and increasing disposable income of consumers. Additionally, favorable government policies and investments in the food industry are driving the demand for sweeteners in the market. The rising trend of health-consciousness and the increasing prevalence of chronic diseases in the region are also contributing to the growth of the market, as consumers seek healthier alternatives to traditional sweeteners.

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.