Juices - Taiwan

The Juices market in Taiwan has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Taiwanese consumers have been increasingly seeking healthier beverage options, and this has led to a growing demand for juices. Juices are perceived as a natural and nutritious choice, as they are often made from real fruits and contain essential vitamins and minerals. Additionally, juices are seen as a refreshing alternative to carbonated drinks, which are often associated with high sugar content and negative health effects. As a result, many consumers in Taiwan are choosing to incorporate juices into their daily diets.

Trends in the market: One of the key trends in the Juices market in Taiwan is the rising popularity of cold-pressed juices. Cold-pressed juices are made using a hydraulic press that extracts the maximum amount of nutrients from fruits and vegetables, resulting in a highly concentrated and flavorful juice. This trend is driven by the growing interest in health and wellness among Taiwanese consumers, who are willing to pay a premium for high-quality, nutrient-rich juices. Another trend in the market is the increasing demand for organic and natural juices. Taiwanese consumers are becoming more conscious about the ingredients used in their food and beverages, and they are actively seeking out products that are free from artificial additives and preservatives. As a result, many juice brands in Taiwan are now offering organic and natural options to cater to this demand.

Local special circumstances: Taiwan has a favorable climate for fruit cultivation, with a wide variety of fruits being grown locally. This abundance of fresh fruits allows juice manufacturers in Taiwan to source high-quality ingredients locally, ensuring that their products are fresh and flavorful. Additionally, the local fruit industry is supported by government initiatives and subsidies, which further incentivize the production of juices made from local fruits.

Underlying macroeconomic factors: The overall economic growth in Taiwan has also contributed to the development of the Juices market. As disposable incomes rise, consumers have more purchasing power to spend on premium and healthier products, including juices. Furthermore, the increasing urbanization and busy lifestyles in Taiwan have led to a growing demand for convenient and on-the-go beverage options, which has further fueled the growth of the Juices market. In conclusion, the Juices market in Taiwan is experiencing growth due to changing customer preferences towards healthier options, such as cold-pressed and organic juices. The local special circumstances, such as the availability of a wide variety of fresh fruits and government support for the fruit industry, have also contributed to the development of the market. Additionally, the overall economic growth and busy lifestyles of Taiwanese consumers have created a demand for convenient and nutritious beverage options.

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.