In 2019, fast-moving consumer goods (FMCG) remains one of the largest segments for Taiwanese consumers, accounting for over 15 percent of the total consumer market. Taiwan’s FMCG market has been slowly but steadily growing in recent years, owing to its high urbanization rate and rising disposable income. Benefiting from its open foreign investment policy, the diverse market, including food, beverage, personal care products, and nonprescription medicine, is shared by domestic and foreign brands.
Omnichannel FMCG retailing
Though supermarkets and hypermarkets still accounted for nearly half of Taiwanese FMCG sales by the end of 2020, the proliferation of online shopping has altered people’s grocery shopping habits. In 2019, about two out of three consumers in Taiwan had shopped on e-commerce platforms, where food and daily necessities were listed as popular product categories. Furthermore, the outbreak of coronavirus at the beginning of 2020 further spurred the online retailing of FMCG in Taiwan. According to a survey in May 2020, more than 40 percent of consumers increased their online spending on food and groceries, followed by personal hygiene products and household cleaning products.
Consumer behavior is heavily influenced by societal change and Taiwan’s aging society has made health food a significant driver in the FMCG market. The functional food and dietary supplement market in Taiwan was estimated to reach 150 billion new Taiwan dollars by 2019, with further expansion expected from the coronavirus pandemic. Around 70 percent of Taiwanese consumers of all ages took dietary supplements amid the pandemic, while most believed it could strengthen their immune system.
Another ongoing trend among FMCG consumers in Taiwan is plant-based food. Many new consumers have welcomed plant-based products as a healthier, ethical and sustainable substitute for animal meat. As of August 2020, more than 85 percent of vegan and non-vegan consumers are willing to try plant-based meat.
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In the following 5 chapters, you will quickly find the 25 most important statistics relating to "FMCG market in Taiwan".