Taiwan: Food Service - Hotel Restaurant Institutional Annual

In 2023, Taiwan's Hotel, Restaurant, and Institutional (HRI) industry reached a record sales figure of one trillion Taiwanese dollars, equivalent to around 30.9 billion U.S. dollars. Although sales are soaring, the number of businesses in this sector only increased slightly by around one percent, underscoring the fierce competition within the industry. Taiwan’s market reflects a growing westernized palate, bolstered by a high per capita GDP of US$34,430. This indicates not only a willingness but also a robust capacity among consumers to explore foreign cuisines. The United States continues to be the leading supplier of various food ingredients for the market, such as beef, poultry, and vegetables.