Taiwan witnessed a further fall in birth rates during 2013, with the fertility rate standing at 1.07 births per woman versus 1.27 in 2012. The low birth rate in 2013 was attributed to the Chinese horoscope year being the snake, which consumers deemed less auspicious. With the low birth rate in 2013, baby food packaging registered slower unit volume growth than in 2012.
Unit volume growth of baby food packaging is expected to further slow down over the forecast period with a CAGR of just above zero expected. The birth rate in Taiwan is projected to remain low in view of consumers’ growing career-mindedness, which sees them choosing to delay marriage and childbirth plans. Consumers’ increased willingness to breastfeed their babies as awareness of the benefits of doing so increases will cause demand for prepared baby food to stagnate over the forecast period.
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This industry report originates from Passport, our Packaging market research database.