Bottled Water - Taiwan

The Bottled Water market in Taiwan has experienced significant growth in recent years, driven by changing consumer preferences and local special circumstances.

Customer preferences: Consumers in Taiwan have shown a growing preference for bottled water over other beverages due to concerns about water quality and health. The convenience and portability of bottled water also appeal to busy urban lifestyles. Additionally, the popularity of fitness and wellness trends has led to increased demand for bottled water as a healthier alternative to sugary drinks.

Trends in the market: One of the key trends in the bottled water market in Taiwan is the rise of functional and flavored waters. Consumers are increasingly seeking out products that offer additional health benefits, such as electrolyte-infused waters for hydration during exercise or vitamin-enhanced waters for overall wellness. Flavored waters, including fruit-infused and sparkling varieties, are also gaining popularity as a more refreshing and flavorful option. Another trend in the market is the growing demand for premium and artisanal bottled water. Taiwanese consumers are willing to pay a premium for high-quality water sourced from pristine locations or with unique mineral compositions. This trend reflects a desire for exclusivity and a willingness to invest in products that are perceived as more luxurious and sophisticated.

Local special circumstances: Taiwan's geography and climate contribute to the strong demand for bottled water. The country is prone to natural disasters such as typhoons and earthquakes, which can disrupt the local water supply. As a result, many Taiwanese households and businesses rely on bottled water as a backup source of clean drinking water during emergencies. Additionally, Taiwan's hot and humid climate makes bottled water a popular choice for staying hydrated throughout the day.

Underlying macroeconomic factors: Taiwan's strong economy and rising disposable incomes have also played a role in the growth of the bottled water market. As people become more affluent, they are willing to spend more on premium products and prioritize their health and well-being. Furthermore, the increasing urbanization and busy lifestyles in Taiwan have led to a greater demand for convenient and on-the-go products like bottled water. In conclusion, the Bottled Water market in Taiwan has experienced significant growth due to changing consumer preferences, including a desire for healthier options and a willingness to pay for premium and artisanal products. The country's geography, climate, and underlying macroeconomic factors also contribute to the strong demand for bottled water.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.