Taipei food and beverage industry insight

Market Sizing, Competition, Barrier of Entry, and Recommendation

11 Oct 2020


*all of the chart are interactive, hover your mouse and you can see data detail
*details about the number are in analysis folder
*details about the code (web scarping, data pipeline, etc) are in github page

Know more before starting a business

The opportunity is huge on around Mid area

Less competition in Mid, Mid-North, and Mid-East area

Good ROI on Mid-North and Mid-East area

Recommendation

Food industry is the most popular choice for Taiwanese young entrepreneur

"76% of young Taiwanese have either already started their own business or would like to do so... with nearly 91% of respondents who indicated they wanted to run their own business saying that they are interested in selling street food or local dishes"

Taipei Times, 2018

Entrepreneurship is not easy and good information could help

"... while 60% who have tried failed to turn a profit."

Taipei Times, 2018


"...common reasons new businesses do not make it: not knowing your market enough, client, competition, buying power..."

Forbes, 2019

This report try to help Taiwanese entrepreneur by informing important information
Especially in the food and beverage industry

*the term "restaurant" in here mean food and beverage business (could mean food stall or other)

This report will cover

  • Restaurant market size, the number of people that are likely to buy the product
  • Competitor per area, the number of existed restaurant in the area
  • Cost to open a restaurant in some area, give estimation of opening a restaurant cost
  • Recommendation for opening a restaurant, things that could be considered

Know more before starting a business

The opportunity is huge on around Mid area

Less competition in Mid, Mid-North, and Mid-East area

Good ROI on Mid-North and Mid-East area

Recommendation

Taipei Mid-Area have huge market size
About 5 times of the other area

Mid-West is crowded; Mid-North, Mid East pretty crowded
The other area have significantly lower passerby number

The buying power (per person) almost equal everywhere
With per meal budget about 200 NTD

Know more before starting a business

The opportunity is huge on around Mid area

Less competition in Mid, Mid-North, and Mid-East area

Good ROI on Mid-North and Mid-East area

Recommendation

Mid, Mid-North, and Mid-East, have less competition level
Less competition is a good factor to start business

Most restaurants concentrated around Mid area

Don't start business in non Mid, Mid-East area
The market size is divided with high number of restaurants

Know more before starting a business

The opportunity is huge on around Mid area

Less competition in Mid, Mid-North, and Mid-East area

Good ROI on Mid-North and Mid-East area

Recommendation

Taipei Mid-North, Mid-East are a good place to start business
Decent market size, Less competition, Less rent cost

The cost make Mid-West area unlikely profitable
They cost about 2 times compare to the other area

Know more before starting a business

The opportunity is huge on around Mid area

Less competition in Mid, Mid-North, and Mid-East area

Good ROI on Mid-North and Mid-East area

Recommendation

Mid North, Mid East are a good starting place
High market size, Less competition, and Decent Rent Cost

Sell average price-food in Mid-North, Mid-East
Or you could pick the area that fit your product pricing

Consider take away / delivery market
The market size is huge, especially in this Covid-19 situation

“We experienced 5,000% growth in the past 24 months,” Yu said. “That’s more than the previous six years combined.”

Discover Advanced Trends in E-economy Summit, 2020

Thank You

feel free to reach me via laurent.saerang@gmail.com