BMI Taiwan Food and Drink Report 2011.pdf
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1、 2011 food forecast to 2015:+13.7% ? 2010 alcoholic drinks sales (value): +5.0%; forecast to 2015: +20.9% ? 2010 soft drinks sales (value): +7.4%; forecast to 2015: +38.4% ? 2010 mass grocery retail sales: +9.91%; forecast to 2015: +36.1% Key Company Trends Taiwanese Companies Increasingly Interest
2、ed in China, and Vice Versa The improvement in the political and economic ties between China and Taiwan are providing a base for a more dynamic collaboration in terms of their food and drinks markets. To this end, some Taiwanese alcoholic drinks producers are branching out to mainland China, with Un
3、i-President in November 2010 kicking off the construction of its beverages plant in Changsha, Hunan Province, in the citys Jinxia Economic Development Zone. Around the same time, Gourmet Master, the operator of Taiwans largest coffee- shop chain, raised TWD2.39bn (US$79mn), with those funds to be us
4、ed to increase the number of its outlets in China to 1,000. Key Risks to Outlook Political and Currency Strengths The risks to our consumer outlook are largely to the upside. Having emerged victorious from the municipal elections in November 2010, Taiwans ruling Kuomintang (KMT) is expected to accel
5、erate the improvement of ties with mainland China. Although competition from lower- cost Chinese imports will threaten local firms performance on the domestic market, high quality Taiwan- made products are likely to find a receptive audience in mainland China, which could translate into better overa
6、ll economic performance and consumer confidence improvements. We also reiterate our view that the Taiwanese dollar remains one of our favourite currencies going into 2011, especially as it looks cheap relative to both the Chinese yuan and the Japanese yen. Taiwan Food and Drink Report 2011 Business
7、Monitor International Ltd Page 6 SWOT Analysis Taiwan Food Industry SWOT Strengths ? The food processing industry is large and well developed ? Taiwan has numerous highly-developed, competitively-run food sub-sectors, including instant noodles ? High disposable incomes encourage consumer spending on
8、 non-essential food and drink items Weaknesses ? Neighbouring China is a disadvantage in terms of Taiwans ability to attract investment, due to Chinas cheaper workforce and the greater long-term growth opportunities that turn potential investors heads ? The geographical limitations of Taiwan represe
9、nt a weakness, as they limit the opportunities available in terms of both audience size and expansion opportunities ? Taiwans entry to the WTO has had a negative impact on many small food processors, as their price competitiveness is being eroded by a flood of cheaper imports ? Taiwans import-depend
10、ency is a particular weakness during this period of volatile input prices and uncertainty over food availability Opportunities ? Taiwan has one of the highest per capita food spends in the region, fuelled by relatively high disposable incomes and a strong preference for convenient, healthy and hygie
11、nic produce, which comes at a higher cost ? There are growth opportunities for premium-brand products in the confectionery sector, especially for those companies willing to invest heavily in product innovation and marketing initiatives ? Taiwan will remain an excellent testing ground for innovative,
12、 but often expensive, new product launches as manufacturers wait for emerging markets to develop sufficiently to accommodate such items ? Improved cross-Strait ties will allow manufacturers to target the mainland without having to invest heavily in new production facilities and without having to wai
13、t for sufficient demand to warrant new plant investment Threats ? The diversity of Taiwans food sector is under threat from the entry of major multinationals; those companies that cannot compete financially, or cannot form partnerships to enable them to compete, will be forced out of the sector ? Im
14、proved trade relations with China leave domestic food manufacturers at risk of competition from low-cost mainland exports ? Uncertain commodity costs will threaten manufacturers margins, with higher costs unable to be passed on to consumers in such a competitive market ? A slower than expected econo
15、mic recovery would dampen domestic demand and severely hurt global export opportunities for Taiwanese manufacturers Taiwan Food and Drink Report 2011 Business Monitor International Ltd Page 7 Taiwan Drink Industry SWOT Strengths ? The beverage industry is large, dynamic, well developed and chiefly f
16、ocused on the domestic market ? Taiwan has numerous highly-developed beverage sub-sectors, including spirits and soft drinks ? High disposable incomes encourage consumer spending on non-essential fast-moving-consumer-goods items ? The scale and dominance of Taiwan Tobacco hypermarkets and convenienc
17、e stores will remain the fastest growing retail formats, backed by the high spending and experienced market leaders that operate in these sectors ? Hypermarkets in particular are benefiting from the increased range of services, such as home delivery and in-store bakeries, that they can offer as a me
18、ans of furthering sales growth without the need for significant expansion ? All modern retail formats benefit from a regionally-relative high level of consumer spending on food and beverages Weaknesses ? Taiwans MGR market is mature, with further expansion likely to take place largely through expens
19、ive mergers and acquisitions rather than greenfield investments ? Supermarkets share of the retail market is declining in the face of competition from hypermarkets and convenience stores, with retailers forced to offer a range of services to attract consumers and supermarkets lacking the size to acc
20、ommodate such services ? Carrefours takeover of Tescos assets has heightened the French firms dominance in the hypermarket sector, giving it a network almost twice the size of that of its closest rival ? Taiwans independent retail sector continues to account for over a fifth of local grocery sales a
21、nd represents a major competitor to modern retail in price terms Opportunities ? Despite the increasing maturity of the Taiwanese retail market, retailers continue to announce expansion plans, suggesting that opportunities still exist for existing players at least ? Private label products are provin
22、g increasingly popular, with many retailers extending the range of items offered as a means of improving their offering without having to increase sales space ? Innovative retail concepts no matter how obscure tend to prove popular with young Taiwanese consumers in particular, with OKs new Qshop un-
23、 manned, vending machine outlets being one such example ? Added-value services continue to act as a means of boosting consumer loyalty, with local consumers particularly susceptible to convenience and premium services Threats ? A slower than expected economic recovery could hurt the mass grocery ret
24、ail sector, particularly those segments that have focused heavily on high- end premiumisation in an effort to achieve growth ? Future uncertainty over operating costs energy, distribution and real estate etc poses a threat to retailers with increased costs unable to be passed on to consumers in such
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