Locally brewed beer flavored with seasonal tropical fruits have sold “better than expected” recently, drawing attention from distributors overseas, Taiwan’s state-run brewer said.
The Taiwan Tobacco and Liquor Corp (TTL, 台灣菸酒公司) launched pineapple and mango beer in early April and the two products have become so popular that “the supply was unable to meet the demand,” the company said.
Late last month, the two beers accounted for 6 percent of Taiwan’s total fruity beer market, which the company described as an “accomplishment,” because there were hundreds of different brands on store shelves.
With the increasing popularity, TTL has raised its annual sales goal from 3 million dozens (21.6 million liters) to 6 million. The company expects to see its market share rise from about 5 percent to 10 percent.
It was not the first time the company had launched fruit beer. Last year, it released white grape and lychee flavors under a different name, “Sweet Touch,” but they were not as big a hit as the pineapple and mango flavors.
“Localization is the key,” one sales director said. “The flavors are something consumers are familiar with and really enjoy.”
In the meantime, the company is developing other flavors, including orange and grape, which will hit the local market next year.
Distributors in Singapore and China have also expressed interest in the popular beverage line, the company said, adding that once the supply is sufficient to meet local demand, the company will expand to overseas markets.
To cope with the unexpected demand, TTL has doubled its production, expanded its juice procurement and secured a stable supply, the company said.
Beer in Taiwan was dominated by Taiwan Wine and Tobacco Monopoly products until 2002, when free trade became law in the country. Taiwan Beer, brewed by TTL, remains the main domestic brand.
AI BOOST: Although Taiwan’s reliance on Chinese rare earth elements is limited, it could face indirect impacts from supply issues and price volatility, an economist said DBS Bank Ltd (星展銀行) has sharply raised its forecast for Taiwan’s economic growth this year to 5.6 percent, citing stronger-than-expected exports and investment linked to artificial intelligence (AI), as it said that the current momentum could peak soon. The acceleration of the global AI race has fueled a surge in Taiwan’s AI-related capital spending and exports of information and communications technology (ICT) products, which have been key drivers of growth this year. “We have revised our GDP forecast for Taiwan upward to 5.6 percent from 4 percent, an upgrade that mainly reflects stronger-than-expected AI-related exports and investment in the third
Mercuries Life Insurance Co (三商美邦人壽) shares surged to a seven-month high this week after local media reported that E.Sun Financial Holding Co (玉山金控) had outbid CTBC Financial Holding Co (中信金控) in the financially strained insurer’s ongoing sale process. Shares of the mid-sized life insurer climbed 5.8 percent this week to NT$6.72, extending a nearly 18 percent rally over the past month, as investors bet on the likelihood of an impending takeover. The final round of bidding closed on Thursday, marking a critical step in the 32-year-old insurer’s search for a buyer after years of struggling to meet capital adequacy requirements. Local media reports
TECHNOLOGICAL RIVALRY: The artificial intelligence chip competition among multiple players would likely intensify over the next two years, a Quanta official said Quanta Computer Inc (廣達), which makes servers and laptops on a contract basis, yesterday said its shipments of artificial intelligence (AI) servers powered by Nvidia Corp’s GB300 chips have increased steadily since last month, should surpass those of the GB200 models this quarter. The production of GB300 servers has gone much more smoothly than that of the GB200, with shipments projected to increase sharply next month, Quanta executive vice president Mike Yang (楊麒令) said on the sidelines of a technology forum in Taipei. While orders for GB200 servers gradually decrease, the production transition between the two server models has been
ASE Technology Holding Co (日月光投控), the world’s largest integrated circuit (IC) packaging and testing supplier, yesterday announced a strategic collaboration with Analog Devices Inc (ADI), coupled with the signing of a binding memorandum of understanding. Under the agreement, ASE intends to purchase 100 percent shares of Analog Devices Sdn Bhd and acquire its manufacturing facility in Penang, Malaysia, a press release showed. The ADI Penang facility is located in the prime industrial hub of Bayan Lepas, with an area of over 680,000 square feet, it said. In addition, the two sides intend to enter into a long-term supply agreement for ASE to