Taiwan

While retail volume growth was positive in 2023, sales were hampered by a shift from spending on goods to services and experiences. As Taiwan ended COVID-19 restrictions at the end of 2022, many consumers were eager to travel abroad. This revenge…

Amidst the backdrop of increased demand for home accessories and furniture during the pandemic, home products specialists in Taiwan witnessed a steady rise in retail sales in 2023. This growth was propelled by the surge in online sales, with homeware…

Retail volume sales of home video, which is dominated by LCD TVs, saw a decline in 2023, in contrast to the modest growth seen in the previous year. Households were reluctant to spend their hard-earned money on higher-priced consumer electronics, as…

Homewares registered modest growth in current value terms in 2023, thanks to the stabilisation of the home cooking trend, which took off during the pandemic. During the height of the COVID-19 crisis, many consumers turned their attention to the…

In keeping with the pattern witnessed over the latter part of the review period, sheer hosiery in Taiwan is set to contract in volume terms in 2023. Falling demand is partly explained by changing fashion preferences, with many younger women inclined…

Hot drinks in Taiwan performed positively in 2023, with growth in total volume sales slightly surpassing that recorded in 2022. This improvement was mainly due to an uptick in on-trade consumption as diminishing public fear of COVID-19 and the ending…

The number of households in Taiwan is set to increase slightly over 2022-2027, with couples with children remaining the leading household type. In 2022, household spending was affected by inflation, which increased living costs. The fastest household…

Despite Taiwan aiming to live with COVID-19 and return to normal lifestyles, confirmed COVID-19 case numbers spiked in 2022 with more than 10,000 cases per day. In line with heightened health consciousness, which has been bolstered by the experiences…

The increasingly sophisticated character of consumer demand for dairy products continued to be driven by the effects of the COVID-19 pandemic throughout 2022, despite the fact that related restrictions were lifted in October of that year. Before…

Demand for instant tea is being dampened as Taiwanese consumers shift towards a healthier mindset in light of the COVID-19 crisis. It is a trend for consumers to have their drinks without sugar in order to stay healthy. Indeed, sugar has become a…

The already prominent health and wellness trend received a significant boost from the experiences of the COVID-19 crisis, as consumers faced the fear of contracting the disease and the challenges posed by the sedentary lifestyles and overconsumption…

There has been a general increase in awareness of health and wellness amongst Taiwanese consumers since the COVID-19 crisis, which is having a direct impact on consumers’ decision-making when they are purchasing soft drinks. Local consumer demand for…

In 2022, more consumers, particularly those of the younger generation, started looking for high protein staple foods as a result of the fitness craze. An increasing number of people began to visit gyms and exercise regularly in the review period.…

During 2023, retail value sales of hypermarkets recorded steady growth, aided by online sales and the expansion of delivery platforms. For example, following its acquisition by PX Mart in 2022, RT Mart underwent marketing integration to optimise…

Ice cream is seeing a noticeable slowdown in retail volume and current value sales in 2023, with sales normalising in foodservice following a strong year in 2022. Although single-portion ice cream sold in convenience stores has experienced a full…

Retail volume sales of imaging devices suffered a further decline in 2023, continuing the trend of the review period. This was due to the waning fortunes of digital cameras, which were severely challenged by continuous advancements in smartphone…

In-car entertainment continued its downward spiral in 2023, a trend that is set to continue throughout the entire forecast period. In-car navigation saw the most significant decline in sales in retail volume terms, largely due to the deepening…

Taiwan is expected to see a significant increase in per capita income. Middle Youth will continue to lead luxury spending trends. However, income inequality is projected to rise but remain at a moderate level in global terms. Social class A is poised…

Jeans has shown another healthy performance in volume terms in 2023, with overall growth set to equal that recorded in 2022. Solid demand is partly explained by the fact that these garments are perennially in fashion and have a broad appeal among…

In 2023, minimalist jewellery designs were highly sought after in Taiwan. Delicate and understated pieces featuring clean lines, geometric shapes, and subtle adornments became a staple in the fashion scene. This trend reflects a shift towards…

100% juice was the most dynamic of the main juice categories in Taiwan in off-trade volume growth terms in 2023. This was primarily due to the increasing preference for healthier soft drinks among consumers, as such products are perceived to be…

The Kaohsiung in Taiwan report provides comprehensive city level information benchmarked against other cities in the country and region. The report includes historic data and forecasts on city population, consumer expenditure, digital penetration,…

Following a fast increase in sales caused by the robust real estate market from 2020 to 2022, large cooking appliances slowed down in 2023. This was especially the case as many subcategories, including built-in hobs and cooker hoods, tend to be…

Laundry care recorded positive retail value growth in 2023, driven by rising price points. Rising inflation and raw materials costs, alongside domestic and international shipping costs, resulted in higher costs across all laundry care products.…

Within limited-service restaurants in Taiwan, McDonald's collaborated with the famous Japanese manga series Dragon Ball, featuring its illustrations on exclusive packaging, meals and trading cards for fans to collect. This iconic anime successfully…

Hotels in Taiwan continued to bounce back in 2023, although the number of room nights remained below pre-pandemic levels. The sector suffered during the pandemic, due to mobility restrictions, with resulted in some hotels closing, or becoming…

Retail value sales of luxury goods in Taiwan grew by 9% in 2023 in current terms to amount to TWD502.9 billion. Development was still widely defined by a return to more normal consumer behaviour in terms of working, shopping, and spending on luxury…

In 2023, mass beauty and personal care products in Taiwan recorded positive retail value growth, with lip and foundation products being best sellers. Following the removal of COVID-19 masks, consumers have been investing in lip products again,…

The resurgence of travel and dining out in 2023, following the post-COVID-19 era, has redirected consumption from off-trade to on-trade channels in Taiwan. With increased time spent on travel and dining at restaurants, there has been a noticeable…

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in…

In 2023, men’s grooming products in Taiwan registered positive retail value, with volume sales driven by fragrances and skin care. Korean and Japanese trends increasingly impact beauty and grooming preferences. Korean male celebrities usually have…

Menstrual care in Taiwan saw a improved performance in current value terms in 2023. However, this was attributable to inflationary pressures, as rising raw material and supply chain costs, combined with a reduction in the number of promotional…

While menswear in Taiwan is poised to record an improved performance in total volume sales terms in 2023, growth has been tempered by changes in consumer behaviour. Demand is now stabilising in the wake of the rapid rebound facilitated by the lifting…

Despite its higher electricity consumption, microwaves are considered kitchen essentials in Taiwan. As such, the penetration rates of microwaves continued to slightly increase in 2023. COVID-19 did not have a negative impact on its overall sales…

Retail volume sales of mobile phones continued to decline in 2023. Households were reluctant to spend their hard-earned money on discretionary purchases, as fears over inflation and interest rate rises took their toll on consumer confidence.…

Insights and data on the traditional automotive sector and the mobility industry can help businesses examine how changing travel patterns will impact future consumer behaviour. Growing climate pressures and rising urbanisation rates are pushing…

Nappies/diapers/pants in Taiwan registered another year of positive current value growth in 2023. However, this was mainly attributable to rising unit prices, rather than any real increase in demand. However, while overall volumes remained flat…

In keeping with the negative trajectory observed throughout the review period, NRT smoking cessation aids is set to contract in volume and current value terms in 2023. Demand continues to be undermined by the fact that the rate of smoking prevalence…

In 2023, oral care in Taiwan recorded positive retail value growth, while retail volume remained positive in all areas, driven by denture care. Raised awareness of all oral care products has aided growth, with medical experts providing educational…

Much like butter and cheese, the volume demand for other dairy products also experienced a decline starting from the second half of 2022. As people grew more comfortable with dining out, the demand for cooking and baking ingredients decreased…

While chocolate-based flavoured powder drinks showed an improved performance in off-trade volume terms in 2023, growth was considerably slower than at the on-trade level. This was partly due to maturity, though retail demand was also constrained as…

While dogs and cats are very popular in Taiwan, it is in fact pet fish that are the most common domestic animals in the country and this can be seen as a reflection of the traditional love that many Oriental cultures have for keeping fish in…

Paediatric consumer health remains underdeveloped in Taiwan, with just two categories – paediatric vitamins and dietary supplements and paediatric cough/cold remedies – registering measurable sales during the review period. This is mainly because…

In 2023, Taiwan's personal accessories industry experienced strong current retail value growth, driven by notable trends. The demand for bags and luggage rose, with consumers seeking high-quality, fashionable options, with many showing a preference…

Although consumers have shifted spending to overseas travelling and eating out, the increasing demand for hair care appliances has driven a lift in retail volume sales in 2023. Generation X and some millennial consumers tend to be more focused on…

Personal luxury retail value sales rose by 8% in 2023, to total TWD281.3 billion, supporting growth for leading brand providers such as Kering SA and Richemont Asia Pacific Ltd. 2023 sales growth was fuelled by individuals deciding to invest in…

Respect of the rule of law and a dynamic private sector have led to superior economic freedom for Taiwan. However, geopolitical tensions are negatively impacting both the political and economic landscapes. Inflation has been controlled well, but the…

Pet ownership is expanding and developing rapidly in Taiwan and the numbers of cats and dogs registered as pets in the country continues to grow substantially, far exceeding the country’s population of babies, infants and young children. As pet…

One area which presents huge potential for sales growth in pet products lies in the increasing integration of technology into the daily lives of consumers: the possibility that there could be strong demand for smart and connected devices for pets.…

In 2021, Asia Pacific ranked first globally in terms of production output of pharmaceuticals and medical equipment, with a turnover of USD857 billion. Over 2021-2030, the region is expected to record the fastest production growth globally,…