"Taiwan Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027" is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Indian market.
The number of live births in Taiwan declined by 21.8% during 2011-2021, to reach 153,820 in 2021. This resulted in a baby population of 496,700 in 2021. However, both the crude birth rate, and total fertility rates, have fallen. The GDP of Taiwan grew by 5.9% in 2021 primarily owing to the successful COVID-19 vaccination campaigns, while consumer price inflation stood at 2%. Overall growth in value terms has increased in recent years with the sector registering a CAGR of 0.6% during 2015-2021. In volume terms, sales grew slightly in 2021, with the sector registering a CAGR of 3.9%. Baby milks remained by far the largest category in value terms with around 70% of the baby food sector, followed by baby cereals & dry meals. Nestle and Abbott Laboratories were the top two companies in 2021. Nestle retained the top spot in value during 2015-2021 and remained the leader in all the categories. Drugstores & pharmacies remained the leading distribution channel, accounting for nearly 60% of overall value sales in 2021. GlobalData estimates that the number of live births will decrease over the forecast period in Taiwan. Based on these assumptions, the market for baby food in the country is expected to grow slightly in value and volume terms, registering a value CAGR of 6.7% and volume CAGR of 0.8% during 2021-2027.
What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.
Scope
- The value sales of the baby milks category increased from TWD five billion ($157.7 million) in 2015 to TWD5.2 billion ($185.9 million) in 2021, registering a CAGR of 0.7% during 2015-2021. The category accounted for highest share of the overall baby food sector, amounting to 70.3% in value terms, in 2021.
- Volume sales of baby cereals & dry meals decreased from 3.41 million kg in 2015 to 2.9 million kg in 2021, recording a negative CAGR of 2.7%.
- The value sales of the baby wet meals & other category grew from TWD110.3 million ($3.5 million) in 2015 to TWD119 million ($4.2 million) in 2021, registering a CAGR of 1.3%.
- Between 2015-2021 per capita consumption of baby finger food fell by 17.7% to reach 25.1g in 2021.
- During the same period, per capita expenditure on baby drinks decreased by 28.4% in current price terms and by 32.3% in constant price terms.
Reasons to Buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.