Indonesia Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Indonesia foodservice market is forecasted to grow at a CAGR of 7.06% during the forecast period (2021-2026).
Key HighlightsIndonesia ranks among the top ten countries in the world and first in South-East Asia with the fastest growing tourism sector. According to the Central Bureau of Statistics, the country witnessed a Year on Year growth of 8.16% in 2018 in the number of tourist’s visits accounting for 1.15 million visits in the respective year. Owing to this flourishing sector the foodservice business is experiencing a top-notch growth in the country. Moreover, dishes such as Rendang, Rawon, Oxtail soup, and Siomay offered by Indonesian cuisine has been gaining considerable preferences by the tourists.
Rising Preferences for Online Food DeliveryWith the increasing urbanization, there has been a surge to seek services with the best possible convenience. Attributed to which the online channel in the country is growing at the fastest pace. The food delivery apps such as Go-Jek's ‘Go-Food’ is involved in offering a much more seamless delivery service which has gained a significant number of users in recent years. By 2018, the app claimed to have registered 100,000 users ordering food from small stalls to premium class restaurants. Witnessing the growing demand through delivery apps, many restaurant owners and family-owned businesses are increasingly looking forward to operating through this platform in order to increase sales. Hence, the online channels are frosting the foodservice sector in the country.
Competitive LandscapeIndonesia foodservice market is highly fragmented owing to the presence of the number of unorganized players dominating the market. Major players are investing to launch new outlets to increase market penetration. Some of the prominent players in the market are Top Food Indonesia PT., McDonald’s, Starbucks Coffee Company, Dominos Pizza, Yum! Brands, Sederhana Citra Mandiri PT, A Great American Brand, LLC, Wendy's Co., and Dunkin' Brands Group Inc.
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