Beer - Taiwan

The Beer market in Taiwan has been experiencing significant growth in recent years.

Customer preferences: Taiwanese consumers have shown a growing preference for beer over other alcoholic beverages. This can be attributed to several factors, including the increasing popularity of Western-style dining and drinking establishments in Taiwan. Beer is often seen as a social drink that pairs well with a variety of foods, making it a popular choice among Taiwanese consumers.

Trends in the market: One of the key trends in the beer market in Taiwan is the rise of craft beer. Craft beer has gained a strong following among Taiwanese consumers who are looking for unique and high-quality beer options. This trend can be attributed to the growing interest in artisanal and locally-produced products, as well as the desire for more diverse and flavorful beer options. Another trend in the market is the increasing popularity of low-alcohol and non-alcoholic beers. This can be attributed to changing consumer lifestyles and a growing awareness of health and wellness. Many Taiwanese consumers are looking for lighter and healthier beverage options, and low-alcohol and non-alcoholic beers provide a suitable alternative.

Local special circumstances: Taiwan has a strong drinking culture, with beer being a popular choice for social gatherings and celebrations. This cultural preference for beer has contributed to the growth of the beer market in Taiwan. Additionally, Taiwan has a large expatriate population, particularly from Western countries, who have brought with them a taste for beer and a demand for a wide variety of beer options.

Underlying macroeconomic factors: The growing economy in Taiwan has played a significant role in the development of the beer market. As incomes rise and consumer spending power increases, more Taiwanese consumers are able to afford beer and other luxury goods. This has led to an increase in beer consumption and has created opportunities for both domestic and international beer brands to enter the Taiwanese market. In conclusion, the beer market in Taiwan is experiencing growth due to changing customer preferences, such as a preference for craft beer and low-alcohol options. Additionally, local special circumstances, such as a strong drinking culture and a large expatriate population, contribute to the growth of the market. The underlying macroeconomic factors, including a growing economy and rising incomes, also play a significant role in the development of the beer market in Taiwan.

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 alcoholic beverages, 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 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.