Updated Aug 31, 2022 23:02

Hop Market in Taiwan (Chinese)

Market Overview
The Taiwanese hop market declined to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a pronounced slump. Over the period under review, the market reached the peak level at $ in 2007; however, from 2008 to , consumption failed to regain momentum.


Consumption
In , the amount of hops consumed in Taiwan (Chinese) contracted to tons, shrinking by -% on . Over the period under review, consumption continues to indicate a pronounced curtailment. Hop consumption peaked at tons in 2007; however, from 2008 to , consumption failed to regain momentum.

The size of the hop market in Taiwan (Chinese) fell to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a noticeable setback. Hop consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for hop in Taiwan (Chinese), the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Hop market in Taiwan (Chinese) consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.


Trade Balance
Taiwan (Chinese) remains a net importer of hop; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.