Boston, MA -- (ReleaseWire) -- 06/12/2014 -- The tea drinking culture appeals to tourists travelling to Taiwan. The significant growth in arrival of mainland Chinese tourists has contributed to a rising demand for on-trade tea. Chinese, Japanese, Hong Kong and Macau tourists account for the bulk of visitor arrivals in Taiwan. These tourists traditionally drink tea in their home culture. Jiufen and Maokong in northern Taiwan are popular tourist attractions, famous for their teahouses, and places like these help boost tea consumption in Taiwan. Also, Taiwanese restaurants serve tour groups which also increases demand for on-trade tea.
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Ten Ren Tea Co led tea sales with an 18% retail value share in 2013. The company owns chained foodservice outlets directly, offering both meals and tea. The company's foodservice outlets and tea are perceived to be high quality by the Taiwanese, allowing the company to build the brand image of Ten Ren and increase its presence and sales. The company's extensive distribution network in Taiwan has helped the brand become a clear leader in tea.
Tea is expected to grow by a 4% CAGR in total volume terms over the forecast period, faster than the 2% CAGR recorded over the historic period. Health and wellness should continue to drive growth. An expected increase in tourist arrivals will continue to help fuel demand for tea both as a souvenir, and for consumption in tea houses. Foodservice will strongly help fuel tea sales, as chained bubble tea shops and tea houses continue to increase in popularity.
Discover the latest market trends and uncover sources of future market growth for the Tea industry in Taiwan with research from Euromonitor's team of in-country analysts.
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The Tea 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
Our market research reports answer questions suchas:
- What is the market size of Tea in Taiwan?
- What are the major brands in Taiwan?
- Is loose leaf tea available in Taiwan?
- Is there a shift from unpackaged to packaged tea in Taiwan?
- Is there a market for tea pods in Taiwan?
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