Business Monitor International


Taiwan Food & Drink Report

Published 02 January 2014

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Taiwan Food & Drink Report

BMI View : In terms of the growth prospects for the Taiwanese economy looking into 2014, we expect supportive pressure from the tech sector and Chinese demand to wane as the year progresses. Additionally, we highlight two factors - the structural rebalancing of China's economy and increasing incidence of political deadlock in Taiwan - which we believe will hurt its economy in the long term. We have consequently downgraded our 2013 and 2014 real GDP projections from 3.0% and 4.0% to 2.1% and 3.0% respectively. Therefore, we remain relatively pessimistic about the performance of Taiwan's food and drink market in the short- to medium term, although we caution that select individual (premium) sectors are likely to outperform the overall market.

Headline Industry Data (local currency)

? 2013 per capita food consumption (value): +1.07%; forecast compound annual growth rate (CAGR) 2013 to 2017: +2.45%.

? 2013 alcoholic drinks sales (volume): +1.69%; forecast CAGR 2013 to 2017: +1.66%.

? 2013 soft drinks sales (value): +4.18%; forecast CAGR 2013 to 2017: +3.92%.

? 2013 mass grocery retail sales: +4.51%; forecast CAGR 2013 to 2017: +3.71%.

Key Company Trends

Hey Song Invests I n Healthier Drinks : In early 2013 Taiwanese soft drinks manufacturer Hey Song announced plans to invest at least TWD1bn in building a new production line in Zhongli City, expected to be operational by 2014, and which will cater for new, healthier drinks. The new aseptic production line will be the first of its kind in Taiwan and will allow the company to add vitamins, milk and other nutritional elements to its drinks.

Uni-President Accelerates In vestment I n China : In early 2013 Taiwan-based Uni-President announced plans for a US$100mn investment to set up a bottled water and food factory at different locations in China. Uni-President indicated that the prospects for China's consumer market are extremely promising. In order to capitalise on the substantial business opportunities, the...

Table of Contents

Executive Summary
7
SWOT Analysis
8
Taiwan Food Industry SWOT
8
Taiwan Drink Industry SWOT
9
Taiwan Mass Grocery Retail Industry SWOT
10
Business Environment
11
BMI's Core Global Industry Views
11
Table: Core Views
19
Asia Pacific Food & Drink Risk/Reward Ratings
20
Table: Food & Drink Risk/Reward Sub-Factor Ratings, Q113 (score out of 10)
21
Table: Asia Pacific Food & Drink Risk/Reward Ratings, Q113
24
Taiwan's Food & Drink Business Environment Rating
25
Macroeconomic Outlook
26
Table: Taiwan - Economic Activity
29
Industry Forecast Scenario
30
Consumer Outlook
30
Food
36
Food Consumption
36
Table: Food Consumption Indicators - Historical Data & Forecasts
36
Canned Food
37
Table: Value/Volume Sales of Canned Food - Historical Data & Forecasts
38
Confectionery
38
Table: Value/Volume Sales of Confectionery - Historical Data & Forecasts
39
Drink
40
Alcoholic Drinks
40
Table: Taiwan Alcoholic Drinks, Value/Volume Sales - Historical Data & Forecasts
41
Soft Drinks
41
Table: Taiwan Soft Drinks, Value Sales - Historical Data & Forecasts
42
Hot Drinks
42
Table: Taiwan Hot Drinks, Value Sales - Historical Data & Forecasts
43
Mass Grocery Retail
44
Table: Taiwan Retail Indicators - Sales Value by Format - Historical Data & Forecasts
48
Table: Sales Breakdown by Retail Format Type
48
Trade
49
Table: Taiwan Food & Drink Trade Indicators - Historical Data & Forecasts
50
Food
51
Key Industry Trends And Developments
51
Taiwanese Restaurant Operator Targeting China in 2013
51
Wei Chuan Foods Setting Up Joint Venture
51
Branding And Diversification To Strengthen Uni-President's Prospects
51
Mainland Chinese Companies Increasingly Interested in Taiwan
53
Market Overview
54
Food Production
54
Food Processing
54
Agriculture
55
Leading Players
55
Drink
57
Key Industry Trends And Developments
57
Demand for Scotch Whisky Remains Considerable
57
Taiwanese Companies Increasingly Targeting Mainland China
57
Market Overview
58
Alcoholic Drinks
58
Soft Drinks
58
Hot Drinks
59
Mass Grocery Retail
60
Key Industry Trends And Developments
60
Far Eastern Looking to Expand Its Footprint in China
60
Innovation Remains Key to Growth
60
Taiwan Not as Attractive as Other Asian Markets
61
Market Overview
61
Table: Structure of Taiwan's Mass Grocery Retail Market by Estimated Number of Outlets
63
Table: Structure of Taiwan's Mass Grocery Retail - Sales Value by Format (TWDbn)
63
Table: Structure of Taiwan's Mass Grocery Retail - Sales Value by Format (US$bn)
63
Table: Average Sales per Outlet by Format - 2012
64
Competitive Landscape
65
Key Players
65
Table: Key Players in Taiwan's Food & Drink Sector
65
Table: Key Players in Taiwan's Mass Grocery Retail Sector
66
Company Analysis
67
Food
67
Uni-President Enterprises
67
I-Mei Foods Co Ltd
68
Want Want Holdings Ltd
69
Drink
70
Hey Song Corp
70
Swire Pacific Ltd (Coca-Cola Taiwan)
71
Taiwan Tobacco & Liquor Corp - Beverage Arm
73
Mass Grocery Retail
74
Taiwan FamilyMart Co
74
Carrefour
75
Risk/Reward Ratings Methodology
76
Table: Rewards
76
Table: Risks
77
Weighting
77
Table: Weighting
77
BMI Food & Drink Industry Glossary
78
Food & Drink
78
Mass Grocery Retail
78
BMI Food & Drink Forecasting & Sourcing
80
How We Generate Our Industry Forecasts
80
Sourcing
81
BMI Methodology
82
Food & Drink Business Environment Ratings
82
Table: Rewards
83
Table: Risks
84
Weighting
84
Table: Weighting
85
BMI Food & Drink Industry Glossary
86
Food & Drink
86
Mass Grocery Retail
86
BMI Food & Drink Forecasting & Sourcing
88
How We Generate Our Industry Forecasts
88
Sourcing
89

The Taiwan Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's Taiwan Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Taiwan.

Key Benefits

  • Benchmark BMI's independent food and drink industry forecasts for Taiwan to test other views - a key input for successful budgeting and strategic business planning in the Taiwanese food and drink market.
  • Target business opportunities and risks in Taiwan through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.

Business Environment Rankings

BMI's Food & Drink Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors, food and drink manufacturers and mass grocery retailers.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.

Food Forecasts

BMI's food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market's food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:

Industry Forecast Scenario - Historical data series and forecasts to end-2018 for growth of key indicators within a market's food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.

Industry Developments - A summary of corporate developments, including news on M&As, FDI, expansions, closures and financial results, in addition to analysis and explanation of the latest industry events and how these could influence further investment.

Market Overview - An overview of the structure of the market, introducing the key players and discussing underlying trends.

Drink Forecasts

Segmented the same way as BMI's food chapter, the drink section provides insight into the market's drink industry, centred on a forecast to end-2018 for the sector. Forecast indicators include alcoholic and soft drink sales by value, volume and sub-sector and tea and coffee sales, among others.

Mass Grocery Retail Forecasts

Segmented the same way as BMI's food and drink chapters, the mass grocery retail section provides insight into a market's grocery retail industry, centred on a forecast to end-201 for the sector. Forecast indicators include mass grocery retail sales by format (including supermarkets, hypermarkets, convenience and discount stores) and a breakdown for the organised retail sector versus the traditional sector, among others.

Competitive Landscape & Profiles

Illustration of the industry via rankings tables comparing revenues, number of outlets and number of employees. BMI analyses each company's market position, business strategies and investment potential.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc