Home and garden in Taiwan saw a stagnant performance in current value terms in 2023, in contrast to the modest growth recorded in the previous year. While the country’s inflation rate was relatively low compared to other markets in the Asia Pacific region, such as Singapore, spiralling food and energy prices, exacerbated by supply chain disruptions arising from the war in Ukraine, placed a squeeze on household budgets.
In 2023, Taiwanese consumers continued to cultivate their love for homegrown greenery. Individuals living in cities with limited outdoor space were drawn towards balconies and containers, as well as vertical gardening solutions.
The competitive landscape of home and garden in Taiwan remained highly fragmented in 2022, with overall leader Dairy Farm International Home Furnishings Taiwan Limited (which locally represents Swedish brand IKEA), retaining only a single-digit value share. IKEA’s popularity in Taiwan is underpinned by its wide range of affordably priced, well-designed and durable home furnishing solutions that cater to different customer tastes.
Bricks-and-mortar retailers, particularly, home product specialists, continued to dominate the market in terms of value sales, due to their convenient locations, flexible operating hours, and diverse product offerings that catered to customers' specific needs. Additionally, home product specialists were often able to impart specialised knowledge about the products they sell, which was valuable for consumers who were seeking guidance or recommendations.
Home and garden in Taiwan will struggle to see any perceptible growth in constant value terms (2023 prices) over the forecast period. While the country has not been subject to high inflation to the same extent as other countries in Asia Pacific, the economic outlook is looking uncertain, at least in the short-term, and consumers may be reluctant to spend their hard-earned money on discretionary purchases.
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Understand the latest market trends and future growth opportunities for the Home and Garden industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.
See All of Our DefinitionsThis report originates from Passport, our Home and Garden research and analysis database.
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