Taiwan’s Frozen food Industry Growth | Opportunities and Upcoming Projects |
Market Entry - Frozen food Industry in Taiwan: Analysis of Growth, Trends and Progress (2017 - 2022)

PUBLISHED

DEC 2017

Market Entry - Frozen food Industry in Taiwan: Analysis of Growth, Trends and Progress (2017 - 2022)

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About the Market

Growing urbanization coupled with rising disposable income are the major factors resulting in the rapid expansion of fast food outlets in countries such as India, Singapore, Indonesia, Malaysia and China. Frozen, chilled beef import allowance from Australia by the Chinese government had a positive impact on high-end food services and retail customers. However, large unorganized industry participants, particularly in developing regions of Asia, such as China and South East Asian countries, face significant challenges regarding their price offerings and product quality as compared to large multinational corporations. The WTO has helped in creating opportunities for the market by reducing tariff barriers and promoting export subsidy measures for several products. Top few companies in the industry include General Mills Inc, Ajinomoto Co. Inc., Nestle, Unilever Plc, Allens Inc, Heinz, and Amy’s Kitchen Inc.

About the Geography

Taiwan has a dynamic capitalist economy with a semi-presidential government. Its economy is now the 26th largest in the world,as per the International Monetary Fund’s (IMF) World Economic Outlook Database. The island enjoys strong growth sustained by the dynamism of the entire region, a population with high purchasing power, and an economy focused on technology.

Taiwan has one of the lowest fertility rates in the world, which tells us that the country is about to face labor shortages. To counter this, new regulations provide preferential tax incentives to foreign professionals employed in Taiwan, aimed at improving the overall environment for recruiting and attracting professionals from other countries. The regulations, which address a general shortage of professional talent, are expected to benefit up to 3,000 foreign professionals. Currently, a proposal has been made to establish "free economic demonstration zones" (FEDZ). The goal of building up these zones is to position Taiwan as Asia-Pacific’s Free Trade Center. The first phase of the plan has been launched in August 2013 and the draft Special Act for EPZ is awaiting ratification.

The major drawbacks for conducting business in Taiwan are the lack of direct communication with China, certain weakness in the protection of intellectual property, and a limited domestic market. Still, Taiwan ranks very high in the ease of doing business and its strategic geographical location serves as an entryway to China and the ASEAN markets. The modern infrastructure and excellent innovation capabilities make it an attractive destination for investors.

 

Component Name

Unit

From Site

GDP

USD billion

524

GDP Annual Growth Rate

%

0.7

GDP Per Capita

USD

22044

Unemployment Rate

%

3.95

Wages

USD/Month

1,478.39

Inflation Rate

%

0.33

Consumer Price Index (CPI)

Index Points

105

Interest Rate

%

1.38

Loans to Private Sector

USD million/billion

313,463.33 million

Balance of Trade

USD million/billion

4374 million

Manufacturing PMI

Index Points

52.2

Ease of Doing Business

(No Units)

11

Competitiveness Rank

(No Units)

14

Corruption Rank

(No Units)

30

Consumer Confidence

(No Units)

78.66

Consumer Spending

USD million/billion

68,674.89

Bank Lending Rate (Consumers)

%

2.64

Corporate Tax Rate

%

17

Sales Tax Rate

%

5

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

 

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Frozen food Industry by Type (USD millions)

                4.1 Frozen fruits & vegetables

                4.2 Frozen ready meals

                4.3 Frozen meat products

                4.4 Frozen fish/sea food

                4.5 Frozen bakery proudcts

                4.6 Others

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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