Spreads & Sweeteners - Taiwan

Taiwan

Highlights

Revenue in the Spreads & Sweeteners market amounts to US$5.76bn in 2024. The market is expected to grow annually by 3.75% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$144bn in 2024).
In relation to total population figures, per person revenues of US$240.60 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 3.06bn kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 4.0% in 2025.0.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 107.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Spreads & Sweeteners market in Taiwan's food market is experiencing minimal growth due to factors such as low consumer awareness and limited availability of online services. However, with increasing health consciousness and the emergence of new sub-markets, the market is expected to witness steady growth in the coming years.

Customer preferences: Consumers in Taiwan are gravitating towards healthier alternatives in the Spreads & Sweeteners Market within The Food market, as they become more health-conscious and aware of the impact of their dietary choices. Low-sugar and natural sweeteners, such as stevia and monk fruit, are gaining popularity, while traditional spreads like peanut butter are being replaced by almond and cashew butter. This trend is driven by the growing interest in plant-based diets and the desire for clean label products. Additionally, there is a growing demand for locally sourced and organic spreads and sweeteners, reflecting a preference for sustainable and environmentally friendly options.

Trends in the market: In Taiwan, the Spreads & Sweeteners Market within The Food market is seeing a shift towards healthier and natural options. Consumers are increasingly looking for products with no artificial ingredients, low sugar content, and clean labels. This trend is driven by the growing health consciousness among consumers and the demand for clean and transparent products. As a result, companies are introducing new products with natural sweeteners, such as stevia and monk fruit, and promoting them as healthier alternatives. This trend is expected to continue, with potential implications for industry stakeholders in terms of product innovation and marketing strategies.

Local special circumstances: In Taiwan, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's unique regulatory environment. The government has strict regulations on food additives and labeling, which have a significant impact on the types and quantities of sweeteners used in food products. Additionally, consumers in Taiwan have a strong preference for natural and organic ingredients, driving the demand for natural sweeteners such as honey and agave syrup. These factors create a dynamic market for spreads and sweeteners, with a focus on health and sustainability.

Underlying macroeconomic factors: The growth of the Spreads & Sweeteners Market within The Food market is greatly impacted by macroeconomic factors such as consumer spending, population growth, and trade policies. Countries with strong economic growth and high disposable incomes are witnessing higher demand for premium spreads and sweeteners, while regions with economic instability and low consumer spending are seeing slower market growth. Additionally, government policies and regulations on food imports and exports also play a significant role in shaping market trends and opportunities for market players.

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.