Sales of hot drinks in Taiwan saw positive, albeit modest growth in volume terms in 2022, following declines in the previous two years. On-trade sales slumped in 2020 and 2021, as measures put in place to contain the COVID-19 virus, including social distancing and restrictions on indoor dining, led to a reduction in visits to coffee shops and restaurants.
One continuing trend in hot drinks in 2022 was the boom in popularity of bubble tea shops in the country, with the density of such outlets being even higher than convenience stores, particularly in urban areas. Despite the COVID-19 pandemic, consumers continued to frequent bubble tea shops, with the result that there was no significant impact on sales.
UCC Coffee Taiwan Co Ltd strengthened its lead in coffee in retail value terms in 2022, having succeeded in increasing the gap between itself and its closest competitor, Nestlé Taiwan Ltd, over the review period. In terms of volume, however, Nestlé was ahead of UCC, underpinned by the success of its well-known Nescafé brand.
During the review period, delivery platforms became increasingly important for on-trade vendors. By 2022, the better-known bubble tea shops in Taiwan were all on food delivery apps, such as Foodpanda and Uber Eats, with large brands having a presence across multiple platforms.
Foodservice showed a partial recovery in volume terms 2022, with sales remaining well below 2019 levels. While COVID-related restrictions on indoor dining eased in October 2021, many consumers remained cautious, due to fears over potential infection.
Sales of hot drinks are expected to see vastly accelerated growth over the forecast period in volume terms. In addition to a return to pre-pandemic lifestyles, including the recovery of foodservice, growth will be driven by a trend towards premiumisation, as consumers become increasingly discerning in their tastes.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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