Other Hot Drinks in Taiwan

PROSPECTS

Other plant-based hot drinks the largest and most dynamic category

Other plant-based hot drinks continued to dominate other hot drinks in 2019. Indeed, other plant-based hot drinks was the fastest-growing category in both current value and volume terms in the final year of the review period, and is expected to continue to be the most dynamic over 2019-2024.

Seasonality an important element of consumption

There is a significant seasonal element in the consumption of other hot drinks in Taiwan, where the hot climate generally encourages consumers to opt for cold/iced drinks. As a result, several other hot drinks products are associated with the country’s short winter, with drinks like hot chocolate promoted strongly in relation to periods such as Christmas.

Malt-based hot drinks seeking to expand consumer base

Rising consumer health-awareness is creating potential for the development of fortified and functional malt-based hot drinks. Historically, malt-based hot drinks products were consumed only by children.

COMPETITIVE LANDSCAPE

Mayushan Foods extends lead

Mayushan Foods Co Ltd extended its lead in other hot drinks in 2019, as it maintained a trend of year-on-year value share growth that persisted throughout the review period. The company’s lead is founded on its strength in the expanding other plant-based hot drinks category, in which its portfolio includes the market-leading Max Green brand.

Milo’s development in line with broader corporate strategy

Nestlé’s Milo malt-based hot drinks brand is working to develop in line with its parent company’s broader efforts to develop a coherent health and wellness positioning. The brand seeks to promote an image of providing children with necessary vitamins and minerals, as well as an appealing flavour.

Quaker targets demand for single-serve convenience and health

Standard Foods Corp’s Quaker brand offers popular cereal-based drinks in salty and sweet flavours. The brand also targets the growing demand for convenience amongst consumers leading busy urban lifestyles by providing easily prepared products in small, one-cup packaging.

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