Following the home seclusion trend of 2020 which boosted demand for the larger and more mature sweet biscuits, overall growth of the latter is set to stagnate in 2021. With longer time at home during the pandemic and binge watching shows on rising video streaming services such as Netflix, there was increasing demand, particularly amongst female consumers and younger generations for sweet biscuits.
Greater product variety with more premium packaging and ingredients is continuing to drive interest in dried fruit snacks. Taiwan is known for its variety of appetising fruit with mango, guava, and pineapple all commonly used to produce fruit snacks.
While remaining a niche overall, snack bars, particularly protein/energy bars, is set to continue to post dynamic growth rates in 2021, in line with increasing health and wellness trends. Be-Kind from Mars was introduced to Taiwan in December 2019 where it has quickly gained strong brand awareness supported by distribution through convenience store chain 7-Eleven.
Despite growing maturity, sweet biscuits offers further growth potential as it continues to attract an increasing number of brands. The challenge is however, to attract a wider, and younger audience, as younger Taiwanese consumers have lower brand loyalty.
Plain biscuits will remain the most popular type of sweet biscuit in Taiwan, having a wide appeal across different age groups, although the smaller category of wafers, which mainly come in the form of egg rolls/rolled wafers, is set to record a stronger performance in retail volume terms over the forecast period. Consumers are familiar with these popular treats as they are widely consumed during Chinese New Year celebrations.
Despite its higher price points, snack bars offers further growth potential; for many Taiwanese consumers, cereal bars are traditionally considered to be a healthier solution for a quick meal during a busy working day. When leading snack bars brand Nature Valley expanded its distribution to 7-Eleven and PX Mart in 2020, it was able to gain its own shelf space or was placed next to health supplements and energy drinks, a strategy already used for displaying protein/energy bars.
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Understand the latest market trends and future growth opportunities for the Sweet Biscuits, Snack Bars and Fruit Snacks 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.
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This report originates from Passport, our Sweet Biscuits, Snack Bars and Fruit Snacks research and analysis database.
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