With a weak economy and low spending power, a large portion of the Taiwanese population is highly price-sensitive. This situation has led to consumers favouring very cheap dining options, in addition to less regular but more expensive meals for a special experience or for social gatherings.
Convenience stores limited-service restaurants have strengthened their position within consumer foodservice in Taiwan. Taiwan has a high density of these outlets, with numbers continuing to grow and their influence on daily life ever more significant.
Two leading, long-established, multinational brands changed management ownership in 2017/2018, with control shifting into local hands in both cases. Both McDonald’s and Burger King had been losing their once highly regarded appeal, as consumers now have the option of choosing from a plethora of other fast food brands, many of which are much more conversant with ongoing trends.
The Taiwanese have long had an affinity for Japanese culture and cuisine. With the proliferation in low-cost carriers operating between Taiwan and Japan, Japan has become a regular and inexpensive place to visit for many, especially younger, Taiwanese people.
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This industry report originates from Passport, our Consumer Foodservice market research database.