Boston, MA -- (ReleaseWire) -- 06/13/2014 -- Other hot drinks manufacturers have launched healthier products, with reduced sugar being the most common development. Taiwanese consumers are increasingly health-conscious and frequently seek natural and healthy beverages. Other hot drinks, such as 3-in-1 cereals, have habitually been taken as meal alternatives, especially at breakfast and are considered a necessity by some local consumers. For example, Milo and Ovaltine are common breakfast beverages for children and students. For some, they are also substitutes for drinking milk products with the content of calcium and other nutrients. Oat-based hot cereals on the other hand appeal to many adults due to the calcium content, ability to lower cholesterol and also the fibre content which helps digestion.
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Standard Foods Corp lead other hot drinks with an 18% retail value share in 2013. Its Quaker brand enjoys the leading position due to the company's large resources in being able to innovate and launch marketing campaigns. Other plant-based hot drinks are traditionally perceived to be for older consumers, yet attractive packaging, local celebrity endorsement and interesting innovation in flavours, such as savoury flavour oat hot cereal, has allowed the company to successfully appeal to younger consumer groups.
In line with the rising health and wellness trend in Taiwan, other hot drinks is expected to record a CAGR of 1% in total volume terms over the forecast period, similar to its performance in the review period. Manufacturers are expected to continue developing new products in a mature and competitive market. However, higher retail sales prices may be moderated by price promotions during a product launch, in order to capture consumers.
Discover the latest market trends and uncover sources of future market growth for the Other Hot Drinks industry in Taiwan with research from Euromonitor's team of in-country analysts.
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The Other Hot Drinks in Taiwan market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
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