Due to COVID-19, the retail volume and current value growth rates of soup have increased significantly in 2021. Consumer demand for chilled, shelf stable and frozen soup increased after the government introduced a ban on indoor dining and schools were closed in May, resulting in more people preferring to cook and eat at home, helping to drive up retail demand.
Hot pot has always been a popular cuisine choice amongst consumers in Taiwan. Of all the chained restaurants in the country, hot pot restaurants account for approaching half, and there are over 10,000 hot pot restaurants if including non-chained outlets.
Unilever Taiwan maintains its lead in soup in value terms in 2021. It owns the well-known brand Knorr, which has been successfully advertised and has established a strong brand image, offering consistent quality and flavours that fit well with local consumer preferences.
After the substantial growth seen in 2021, soup is forecast to portray negative retail volume and current value growth in 2022 as demand stabilises. With greater consumer confidence, more people are likely to return to eating out, which will hamper growth in retail sales.
Chilled soup is expected to see the strongest retail volume and current value growth in the forecast period. This product is considered to be fresher and healthier than dehydrated and instant soup in particular, and the closest to fresh soup.
In 2020, Quaker launched a new instant soup in Taiwan, Oat soup, which brings novelty to the instant soup category. Oats are perceived by many consumers as a healthy carbohydrate, free from gluten, easy to digest yet satiating.
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Understand the latest market trends and future growth opportunities for the Soup industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Soup industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Soups is the aggregation of dried (dehydrated formats), shelf stable and chilled and frozen soups. Includes: Ready-made, pre-packaged soup, regardless of format. Excludes: Liquid stocks and or stock/bouillon cubes. These are tracked in sauces, dressings and condiments, under cooking ingredients. Herbal soup mixes common in Asia are also excluded.
See All of Our DefinitionsThis report originates from Passport, our Soup research and analysis database.
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