Demand for yoghurt in Taiwan is predicted to decline in 2021, driven by the dominant format of drinking yoghurt, due to the home seclusion trend as a result of the pandemic. With remote working and home schooling measures in place as the country introduced alert level 3 due to rising case numbers, drinking yoghurt is being negatively impacted by reduced impulse and on-the-go consumption occasions, despite rising interest in probiotic variants which are perceived to boost the immune system as a result of the pandemic.
Another factor negatively impacting demand for yoghurt in 2021 directly linked to the effect of pandemic-related restrictions, is the growing trend for consumers making their own yoghurt. Consumers remain cautious about frequently leaving their homes to go grocery shopping, but dairy products such as fresh milk or yoghurt are known for their short shelf life.
The competitive landscape of yoghurt is fairly consolidated and led by major domestic players Uni-President Enterprises (AB and LP33 drinking yoghurt brands) and Taiwan Bifido Foods Inc (Ho-Eat Bifidos) which is set to gain further value share in 2021, in addition to multinationals such as Yakult Honsha Co Ltd. More impressive growth rates are continuing to be recorded by brands of plain yoghurt including Fresh Delight Natural Zero and Fresh Delight Premium Yogurt from Standard Foods Corp, and Kuang Chuan Greek Style Yogurt.
Demand for yoghurt through retail in Taiwan is predicted to stagnate over the forecast period, while marginal improvements for foodservice are more likely once consumers regain their confidence in dining out as the threat of the pandemic wanes. With less than dynamic growth prospects, the category will welcome expansion in the form of smaller players which could offer greater differentiation and offer competition to prominent local players such as Standard Foods, Uni-President and Kuang Chuan Dairy.
Plain yoghurt is predicted to continue to record the strongest performance in retail and foodservice terms. Although volume growth will not be as impressive compared to the review period, value growth (at constant 2021 prices) will outperform volume due to a further increase in the average unit price, as the category continues to expand with premium options.
The dominant drinking yoghurt is set to stagnate in retail volume terms over the forecast period. The category traditionally offered sweet and mostly fruit flavours, driven by on-the-go consumption with many Taiwanese consumers purchasing these products to alleviate thirst, or as an indulgence that differs from the healthy perception linked to spoonable plain/flavoured yoghurt.
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This report originates from Passport, our Yoghurt and Sour Milk Drinks research and analysis database.
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