Hard Seltzer - Taiwan

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

Customer preferences: Taiwanese consumers are increasingly seeking healthier beverage options that are low in calories and sugar. Hard Seltzer, with its low alcohol content and refreshing flavors, has emerged as a popular choice among health-conscious individuals. The younger generation, in particular, is drawn to the light and fruity taste of Hard Seltzers, making it a trendy alternative to traditional alcoholic beverages.

Trends in the market: One of the key trends in the Hard Seltzer market in Taiwan is the introduction of local flavors. Taiwanese consumers have a strong affinity for local ingredients and flavors, and this trend has influenced the development of Hard Seltzers in the country. Local brands have started incorporating Taiwanese fruits, such as lychee and guava, into their products, catering to the preferences of the domestic market. This localization strategy has helped these brands differentiate themselves and gain a competitive edge. Another trend in the market is the increasing availability of Hard Seltzers in various retail channels. Initially, Hard Seltzers were primarily sold in bars and restaurants, targeting the on-premise consumption market. However, as the demand for these beverages grew, they have become more widely available in supermarkets, convenience stores, and online platforms. This expanded distribution network has made Hard Seltzers easily accessible to a larger consumer base, driving market growth.

Local special circumstances: Taiwan has a vibrant food and beverage culture, with consumers constantly seeking new and innovative products. This environment provides a favorable backdrop for the growth of the Hard Seltzer market. Taiwanese consumers are open to trying new flavors and concepts, making it an ideal market for the introduction of Hard Seltzers. Additionally, the country's warm climate and outdoor lifestyle further contribute to the popularity of these refreshing beverages.

Underlying macroeconomic factors: The growing popularity of Hard Seltzers in Taiwan can also be attributed to broader macroeconomic factors. Taiwan has experienced steady economic growth in recent years, leading to an increase in disposable income. As a result, consumers have more purchasing power and are willing to spend on premium and imported products, including Hard Seltzers. The rise of the middle class and changing consumer preferences have created a favorable market environment for the growth of the Hard Seltzer industry. In conclusion, the Hard Seltzer market in Taiwan is witnessing significant growth due to customer preferences for healthier beverage options, the introduction of local flavors, the increasing availability of Hard Seltzers in retail channels, the country's vibrant food and beverage culture, and underlying macroeconomic factors such as rising disposable incomes and changing consumer preferences.

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.