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Learn moreDec 2020
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The epidemiological impact of COVID-19 in Taiwan has been insignificant compared to most other countries, with very few cases reported, but the threat posed by the pandemic has made consumers more cautious about spending money, with consumer confidence falling to its lowest level in more than a decade during spring 2020 and only partly recovering during the latter part of the year. There was a significant reduction in demand for hot drinks, particularly coffee and TV, in the foodservice channel during the early part of the year, but demand began to normalise in the second half.
The government in Taiwan has yet to introduce a lockdown. On 28 January, it started quarantining people with travel histories that might have exposed them to COVID-19.
Players in hot drinks have responded to the pandemic by offering in-home solutions like drip bag to stimulate retail volume sales. Wang De Chuan Fine Tea, which was heavily reliant on tourism, has begun to market drip bag format tea, positioning it as a convenient in-home solution.
Convenience stores have begun to actively target consumers in search of premium coffee products. Influenced by Western culture via TV, cinema and the internet, young Taiwanese consumers are drawn to the image conveyed by coffee and its place in social interactions, particularly in cafés and coffee shops.
COVID-19 has driven a significant decline in volume sales of coffee in the foodservice channel, as COVID-19 led many consumers to spend more time at home and become more cautious in their discretionary spending, with some of this demand displaced to the retail channel. Some consumers who used to enjoy coffee from coffee shop began to brew coffee at home.
Volume sales of hot drinks in the foodservice channel will rebound during 2021 as consumer confidence continues to recover from the shock of the pandemic. However, the recovery will be slower in tea than in coffee, as the former is more dependent on tourism.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Hot Drinks industry in Taiwan with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Hot Drinks industry in Taiwan, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Hot Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.