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Learn moreDec 2020
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The overall packaged food market in 2020 in Taiwan has been increasing significantly because of the impact of COVID-19. In the first half year of the year, most consumers were worried and concerned about the outbreak and possible food shortages.
The government in Taiwan has not introduced any lockdowns to date. From 28 January, it started quarantining people with travel histories that might have exposed them to COVID-19.
Packaged food brands that are deemed by consumers to be trustworthy and that have engaged highly in socially beneficial initiatives have been the most successful in Taiwan in 2020. During the pandemic, consumers have been more likely to opt for brands they trust the most, rather than experiment with others.
At the beginning of the COVID-19 outbreak in Taiwan, consumers were panic-buying all staple groceries, fearing stock-outs and the need for an extended period spent at home. It tended to be Costco and hypermarkets that experienced the most such behaviour.
Fewer people living in Taiwan are dining out on account of COVID-19, meaning that foodservice volume sales are down for packaged food. Most of the restaurants that have closed permanently or temporarily are Chinese or banquet, with custom dwindling as people have been avoiding social gatherings.
As the COVID-19 pandemic is well controlled in Taiwan, packaged food in 2021 is set to return to a much more normal and regular consumption level in retail while foodservice regains part of its lost momentum. However, people are still highly conscious about a possible further outbreak of the virus and it is expected that they will remain vigilant of the threat for a while to come.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food 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 Packaged food industry in Taiwan, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from the category reports in Taiwan for free.
The Packaged food in Taiwan market research report includes:
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This industry report originates from Passport, our Packaged Food 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.