Taiwan: Food Service - Hotel Restaurant Institutional
Link to report:
As elsewhere, the Taiwan food service sector suffered a major setback with the COVID-19 pandemic. Despite recording no domestic cases until March 2021, Taiwan food sectors were impacted by a lack of tourists as strict border controls limited travel. Additionally, the weaker consumer sentiment toward dining out caused a 3.9 percent and 9.9 percent decline in Q1 and Q2 2020 respectively but rebounded later in the year. Overall transactions during year 2020 were -4.19 percent year-over-year, the first recession since 2003. Among all food service sectors, catering was among the industries that was hit the hardest. Nevertheless, Taiwan’s food service operations were speedily restructured to where profound adjustments are leading to a success in delivering fresh and frozen ready meals.
