Taiwan: Food Processing Ingredients
Link to report:
Report Highlights Throughout 2020, Taiwan remained essentially unimpacted by the COVID-19 pandemic thanks to the Taiwan authorities’ swift, effective response in managing this global crisis. Rather, the island enjoyed its status as Asia’s top performing economy in 2020 with 3.11 percent growth. Taiwan’s food processing industry produced an estimated $22.1 billion of processed food and beverages in 2020, up 3.4 percent compared with 2019. Prevalent consumer concerns about food safety and heightening civic awareness about sustainability have influenced the industry to develop transparent traceability programs, clean labels, and plant-based protein initiatives. In addition to currently strong demand for dairy products, the growing market of products for elderly consumers is poised to demand more quality proteins. Products like oat milk, veggie meat, soybean ingredients, seafood, and other products are showing sales growth potential in the next decade.
