).png){kind=spacer}
New Open | 顧問專欄 圖片 | 經濟部統計處
In May 2024, Taiwan's food and beverage industry showed a year-on-year growth of 4.1%, reaching NT$84.9 billion.
The global economic recovery remains influenced by inflation and high interest rates. The retail and catering industries benefited from the business opportunities brought by the Dragon Boat Festival holidays, mid-year sales, and graduation season, which helped boost sales growth. The growth rate is expected to continue rising. Below is a structured analysis prepared for you:
Restaurants and Beverage Stores
Restaurants and Beverage Stores: In May, the sales of restaurants and beverage stores increased by 2.9% and 5.1%, respectively. This was mainly due to operators successfully seizing the business opportunities of festivals by launching limited-time activities and festive packages, attracting a large number of customers. For example, during holidays like Mother's Day and the Dragon Boat Festival, many restaurants offered special packages and promotional activities, attracting family gatherings and friends' parties. In addition, the aggressive expansion of outlets by catering operators expanded market coverage, further driving sales growth.
Strong Growth in Catering and Group Meal Contracting Industry
Catering and Group Meal Contracting Industry: In May, the sales increased by 19.3%, showing significant growth. This was mainly driven by the increased demand for airline meals, particularly the expansion of in-flight meal sales. As international travel gradually recovers, airlines' demand for meals has increased, boosting the performance of the catering and group meal contracting industry. Additionally, the demand for group meals from businesses and schools has rebounded, promoting good growth in this field.
Consumer Price Index (CPI) YoY Increase of 2.24% in May
The main reasons include rising prices of vegetables and fruits due to unstable weather, as well as increases in dining out expenses and rent. Moreover, some medical institutions raised registration fees. However, the decrease in egg prices due to reduced demand and last year's high base effect offset some of the increase. Excluding vegetables, fruits, and energy, the CPI rose by 1.84%.
Comprehensive Evaluation by New Open Consultants
From January to May, the total sales of Taiwan's catering industry reached NT$429 billion, a record high for the same period in previous years, with a year-on-year increase of 4.8%. This data shows that Taiwan's food and beverage industry can maintain stable growth despite various challenges. Many operators have achieved growth through innovative marketing strategies and aggressive outlet expansion, providing more diverse services; for example, by focusing more on market demand in consumer experience and product selection and launching special activities during holidays to boost sales. With the further recovery of domestic and international travel demand, continuous innovation and market expansion by operators, Taiwan's food and beverage industry is expected to maintain stable growth. However, operators still need to pay attention to market changes and flexibly adjust their business strategies to respond to potential challenges and opportunities.
How to Focus More on the Right Strategies? Keep Your Efforts on the Essential Matters.
Comments