Boston, MA -- (SBWIRE) -- 09/18/2014 -- While not a local product nor a key ingredient in local food, cheese has seen increasing popularity as the Taiwanese develop a taste for Western food. Value sales of cheese are expected to increase by 4% in current terms in 2013, a slightly lower rate than the previous year. As a key ingredient in pizza, burgers, sandwiches and pasta meals, the abundance of Western-style restaurants in Taiwan is providing key exposure to the many uses of cheese. In this sense, cheese consumption in the foodservice industry is helping to drive growth in a relatively-underdeveloped category. Nevertheless, education on both the health benefits of cheese, as well as the variety of cheese products and their applications is still needed.
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Specialising in dairy products, New Zealand's Fonterra Brands (New Young) Pte is expected to be the leader in cheese with a 51% value share in 2013. Its popular brands Anchor, Anlene and Chesdale offer a wide product range in terms of cheese formats and types, so the company has established a strong presence in Taiwan; however, a botulism scare in some of Fonterra Brands (New Young) Pte's products may threaten future sales.
Value sales of cheese are expected to grow at a constant CAGR of 1% over the forecast period. The demand for cheese is likely to grow, since Western-style restaurants and cuisine will see increasing popularity, particularly amongst younger consumers; however, this is likely to increase sales more in the foodservice channel rather than in retail as dining out becomes more commonplace for younger consumers. Nevertheless, as consumers become more accustomed to the types and varieties of cheese, retail growth for home cooking is expected to increase.
Drinking Milk Products
As a source of nutritional value, drinking milk products have quickly become a staple in the diets of many local consumers. Value sales of drinking milk products are expected to grow by 2% in current terms in 2013, which is a slightly-weaker performance than in 2012.
Wei Chuan Foods Corp is expected to increase its value share in 2013 and continue to lead drinking milk products with a 26% value share. Providing a wide range of products covering both liquid and powder milk varieties, Wei Chuan Foods Corp has been building its leading position in Taiwan for over 50 years.
Value sales of drinking milk products are expected to register almost no growth in constant terms over the forecast period. In spite of positive trends for both fresh milk products and non-dairy milk alternatives, some categories, including flavoured milk drinks and powder milk, are predicted to register a value sales decline in constant terms over the forecast period. Due to health and wellness concerns, consumers tend to prefer natural and fresh drinking milk products to flavoured alternatives as they contain less sugar and more nutritional content. Moreover, quality considerations, beginning with the 2008 melamine scandal, and more recently with botulism concerns regarding Fonterra Brands (New Young) Pte, have greatly affected the popularity of powder milk.
Yoghurt and Sour Milk Drinks
Value sales of yoghurt and sour milk products are expected to record growth of 4% in current terms in 2013, an increase from 3% in 2012. Health Foods Certification for many of the leading yoghurt products has significantly promoted their health benefits over the review period, leading to strong growth. Drinking yoghurt, by far the largest category in terms of value sales, is expected to record a value sales increase of 4% in current terms in 2013, driven primarily by pro/pre biotic drinking yoghurts, the main beneficiaries of Health Foods Certification. The convenience of being able to consume yoghurt on the go also appeals to consumers and is resulting in increased demand.
With its longstanding presence, Yakult Honsha Co is expected to hold the leading position within yoghurt and sour milk products in Taiwan with a 28% value share in 2013. Sales of the pro/pre biotic drinking yoghurt brand Yakult are set to grow in 2013, but its overall value share is expected to fall slightly as other players are more active in promoting newer products. Nevertheless, reputation, television advertising and strong marketing campaigns continue to help drive sales and maintain a strong brand image in 2013. Towards the end of the review period, Yakult Honsha Co promoted a new marketing campaign involving 3-wheeled bicycles that helped boost sales of the brand. Thousands of 3-wheeled bicycles rode through towns and cities to sell and promote the brand Yakult.
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