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All about the Food and Beverage Industry in Taiwan: Market Overview and Analysis

Other Non Alcoholic Beverage
Alcoholic Beverage
Lei Wang
Published Mar 27, 2024
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Taiwan's economic outlook includes a projected 1.42% year-on-year (YoY) growth in real GDP for 2023, with a 2.46% YoY increase expected in the Consumer Price Index (CPI). In 2024, real GDP growth is forecasted at 3.43% YoY, while the CPI is predicted to rise by 1.85% YoY, primarily due to sustained price increases in food and residential rent. Taiwan relies heavily on agricultural imports, particularly from the United States, with soybeans, corn, and wheat being the primary imports. Recent years have seen a notable increase in coffee imports driven by rising local demand and prices. The food service sector dominates Taiwan's food and beverage (F&B) industry revenue, with full-service restaurants, including high-end and fine dining options, being popular. Coffee shops are also on the rise as consumers seek experiential coffee consumption. Post-pandemic, there's been a shift towards fast and easy F&B options, with an emphasis on health benefits. This trend has boosted the popularity of products promoting health, convenience, and happiness. Korean cuisine, particularly grilled meat and fried chicken, holds a significant presence in Taiwan's culinary landscape.

Table of contents

Key Takeaways

1. Introduction of Taiwan

1.1 Geography and Population

1.1.1 Geography

1.1.2 Population

1.2 Economy

1.2.1 Overview

1.2.2 Forecast

2. Taiwanese Food Market

2.1 Agricultural Trading

2.1.1 Import

2.1.1.1 Imports by Countries

2.1.1.2 Imports by Products

2.1.2 Exports

2.1.2.1 Exports by Countries

2.1.2.2 Exports by Products

2.2 Processed Food Industry

2.2.1 Top Listed Food Companies in Taiwan

2.2.2 Sub Sectors

2.2.3 Trends

2.3 Food Retail

2.3.1 Convenience Stores

2.3.2 Hypermarkets

2.3.3 Supermarkets

2.3.4 E-Retail

2.4 Food Service

2.4.1 Full-Service Restaurant

2.4.2 Buffet Restaurants

2.4.3 Coffee Shops

3. Food Ingredients Regulations

3.1 Labeling Requirements

3.1.1 General Food Labels

3.1.2 Import Food Labels

3.1.3 Nutritional Labels

3.1.4 Packaged Foods

3.1.5 Foods Served in Catering Establishments

3.2 Phytosanitary Certificates

4. Local Dining Culture and Trends

4.1 Taiwan Food by Catalog

4.1.1 Fruits

4.1.2 Beverage

4.1.3 Snacks & Confectionery

4.2 Night Markets in Taiwan

5. Korean-Food in Taiwan

5.1 Popular Korean Food in Taiwan

5.2 Delivery Orders for Korean Food

5.3 Packed Food and Beverage

5.3.1 Beverage (Milkis and Pororo)

5.3.2 Snacks & Confectioneries

5.3.2 Instant Noodle

5.4 Major Korean Food Ingredients Suppliers

6. Springs/Amusement/Water Parks in Taiwan

6.1 Taiwan Hot Spring Fine Cuisine Festival

6.1.1 Jiaoxi Hot Springs

6.1.2 Antong Hot Springs

6.2 Lihpao Resort

6.2.1 Mala Bay Water Land

6.2.2 Discovery world

6.3 Small to Medium Sized Jjimjilbang in Taiwan

7. Market Entry and Strategy

7.1 One-Stop Service Request

Conclusion

References and citations

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