After a dip in demand for chocolate confectionery in 2020 as consumers prioritised their expenditure during the pandemic, retail volume sales are expected to fully recover during 2021. Despite a surge in cases over the early part of the year which has seen the government introduce a number of restrictions on entertainment venues and gatherings, these are due to be relaxed at the end of June.
Greater premiumisation within chocolate confectionery will be evident in 2021, with current value sales predicted to fully recover and surpass pre-pandemic levels. This will be supported by an increasing number of premium international brands being introduced by local distributors or retailers.
The Food and Drug Administration under the Ministry of Health and Welfare announced in March 2021 that a new regulation will update requirements when using the term “chocolate” to be introduced on 1 January 2022. According to the new regulations, chocolate content in food containing stuffed chocolate and other foods must reach 25%, while the vegetable oil content of all chocolate-related products must not exceed 5% of the total weight to be classified as “chocolate.
While countlines is predicted to remain the most popular type of chocolate confectionery over the forecast period in Taiwan, it will be outperformed in retail volume and value growth terms (at constant 2021 prices) by more premium-positioned options such as tablets, with plain dark chocolate increasingly perceived as being more authentic and of higher-quality. One of the main reasons for this will be the high-calorie image of countlines.
With increasing health and wellness concerns in Taiwan, local consumers are not only likely to reduce purchases of high-calorific sugar-laden products but also become more concerned about portion control, when they do want to treat themselves with small indulgences. Therefore, some players such as Meiji will continue to launch individual packaging premium bite-size products, mainly targeting impulse, on-the-go snacking occasions.
While chocolate pouches and bags witnessed limited innovation earlier in the review period, it has started to experience greater attention by players. Key local player Hunya Foods Co Ltd launched its new product line 77 Nougat QQ ball in 2020.
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This report originates from Passport, our Chocolate Confectionery research and analysis database.
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