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Hazy growth in Taiwan’s baby food market attributable to low birth rate
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Thursday, 29 June, 2017, 08 : 00 AM [IST]
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Taipei
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The growth of the baby food market in Taiwan is comparatively small, hazy and strictly affected by the low birth rate in the previous years. This was stated by Ken Research’s market report, titled Baby Food in Taiwan.
The country’s economy is one of the richest in Asia, and is established on the imports and exports of the goods.
It has a well-built commercial code and open-market policies in the private sector and facilitates free flow trading.
A majority of the doctors recommend breastfeeding and advise new mothers to follow safety precautions while managing the attractive baby foods.
According to the report, the baby food market in Taiwan had been affected by a chain of food scandals over the past few years.Therefore, parents are opting for imported and expensive brands with better quality.
Soon after, the quality of products from the country improved, and attractive marketing was organised to attract consumers and improve market growth in baby food.
In the coming years, there will be a positive impact on the baby foods market with the improved consumer disposable income. The growing urbanisation and the increase in the number of working mothers also increase the growth of the baby food market.
In Taiwan, Nestle Taiwan Ltd, Mead Johnson Nutrition (Taiwan) Ltd, Standard Foods Corporation, Abbott Laboratories Services Corpand Hipp are the major competitors in the baby food market.
Nestlé Taiwan Ltd, Standard Foods Corporation, Abbott Laboratories Services Corpand Hipp offer many varieties of dried baby foods, milk formulae, ready-to-eat baby food and others.
However, Mead Johnson Nutrition offers a few limited brands of baby milk formula stage-wise. Standard Foods is the only multi-national company that currently manufactures baby foods in Taiwan. The baby food products are milk, cereals, ready-to-eat meals, finger foodsand drinks.
Geographically, the baby food market is segmented into North America (the United States, Canada and Mexico), Europe [Germany, the United Kingdom, France, Italy, Spain, Portugal, Scandinavia and Belgium, the Netherlands and Luxembourg (BENELUX)], Asia-Pacific (China, Japan, India, Australia, New Zealand and South Korea), the Middle-East and Africa [the Gulf Cooperation Council (GCC) and South Africa] and Latin America (Brazil and Argentina).
The global competitors in the baby food market are Nestle, Mead Johnson Nutrition, Danone, Meiji Holdings CoLtd, Abbott Nutrition, the Kraft Heinz Company, FrieslandCampina, Beingmate Baby & Child Food CoLtd, Pfizer and others.
The sales of convenient baby foods in Taiwan have decreased over the years. The slow birthrate and awareness in breastfeeding are expected to decrease the growth in the baby foodmarket in the coming years.
It is expected by the year 2022that there will be growth in the retail sales of baby foods in Taiwan, but the volume sales of baby foods may deteriorate.
The key topics covered in the report included the Taiwan baby food market research report, the Taiwan baby food market size, the Taiwan baby food market, online baby food sales in Malaysia, the Taiwan baby food retail market, the Taiwan baby food production output, the Taiwan baby food import volume, the Taiwan baby food export volume, the Taiwan baby food market future outlook, the Taiwan baby food market competition, the baby cereal market in Malaysia, the infant formula market in Malaysia, the Malaysia dry baby food market research and Malaysia baby food market regulations.
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