Although public trust in herbal/traditional products is already quite high in Taiwan, as competition intensifies the forecast period will see manufacturers work to further strengthen consumer confidence in the capacity of their brands to alleviate the symptoms of minor ailments or reduce the risk of different types of illnesses. To this end, more companies are expected to collaborate with reputable academic institutions on research studies and clinical trials so that claims made for products can be validated by peer-reviewed scientific evidence.
Herbal/traditional dietary supplements and tonics look set to remain the largest and best performing herbal/traditional categories in volume and current value sales terms over the forecast period. Both are well placed to capitalise on the growing willingness of Taiwanese consumers to take preventive measures to improve general health and guard against various diseases.
The share of total herbal/traditional products value sales generated through e-commerce is projected to increase over the forecast period. Gains for the channel will be underpinned by growing consumer appreciation for the convenience, variety and competitive price deals afforded by online shopping, a trend that has recently been reinforced by pandemic-related disruption.
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Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Herbal/Traditional Products industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Herbal/Traditional Products
Botanicals or traditional remedies are products that have a long tradition of use, decades of established reputation, and are considered alternative remedies to standard medicine. Traditional medicine remedies such as Ayurveda, Traditional Chinese Medicine (TCM), Unani, Kampo, etc. are included. Homeopathic remedies are excluded. Only packaged products are tracked.
See All of Our DefinitionsThis report originates from Passport, our Herbal/Traditional Products research and analysis database.
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