2024 Taiwan Industrial Outlook-The Food Industry in Taiwan
In 2023, the operations of Taiwan’s food, retail, and food service industries gradually stabilized. Although inflationary pressures remained, the active consumer market and demand for Lunar New Year stockpiling contributed to growth in production value. Taiwan’s food and beverage manufacturing industry continued to perform well. In 2023, the total production value of Taiwan’s food industry reached NT$986.45 billion, a 3.7% increase over the previous year, and accounting for 5.6% of the overall manufacturing industry.
Changes in the global environment and fluctuations in the supply and price of raw materials have continued to affect food trade performance. In 2023, the export value was NT$113.21 billion, with the main export items being frozen food products, miscellaneous food products, and non-alcoholic beverages. The products were primarily exported to the United States and Japan. The import value was NT$334.03 billion, with the main import items being frozen food products, alcoholic beverages, miscellaneous food products, and dairy products, with products mostly imported from the United States, the United Kingdom, Thailand, Japan, and New Zealand.
In 2023, most new food and beverage products launched in Taiwan were entirely new products. Key features included fewer additives, a focus on the use of local ingredients, innovative packaging and flavor combinations, and enhanced interaction with social media. These remain important characteristics for new product appeal. Policies continue to promote industry innovation through collaboration with research institutions (such as the Food Industry Research and Development Institute) and industry associations. Examples include the selection of senior-friendly foods, Fun Food Taiwan selection campaigns, staple food products made from domestic grains, and digital transformation for the food industry. Technological collaboration in the industry continues to invest in purer and healthy ingredients with enhanced texture and flavor, as well as the development of sustainable key ingredients, optimizing operations and capacity through smart technology. The food service industry has incorporated a variety of prepared meals and canned food development, offering opportunities for diverse innovation. Digital tools are used in the food service and distribution sectors to reduce labor needs and improve operational efficiency.