Asia Pacific

Embedded finance is the critical factor to improve customer journey and drive transformation for services industries.. With travel recovery and sluggish volume sales of automotives, embedded finance is considered to have the most potential to build…

Cafés/bars saw another year of buoyant growth in current value terms in 2023, with independent outlets leading the way. This was consistent with the developing coffee drinking culture in the country, as consumers sought out visually appealing venues…

During 2023, cafés/bars recorded solid growth in terms of both current value and volume of transactions. This was driven to a large extent by an increase in consumer mobility, with locals being keen to make up for the time lost during the pandemic.…

The Indonesian tourism industry experienced a strong rebound in 2023, and this served to boost the number of transactions made in travel, lodging and leisure locations. According to official sources, more than 11 million international tourists…

Consumer foodservice through retail saw a strong performance in 2023, both in terms of current value growth and number of transactions. Sales were boosted by an increase in footfall in shopping malls and other retail establishments., as consumer…

Consumer foodservice in Indonesia saw another year of positive growth in 2023, although current value sales remained well below pre-pandemic levels. Demand slumped in 2020, as the Community Activities Restrictions Enforcement (PPKM) put in place to…

Despite persisting inflationary pressures, consumer foodservice in the Philippines recorded healthy growth in terms of current value and number of transactions in 2023, with the strong recovery of the economy being one of the main contributors to…

Full-service restaurants in Indonesia can generally be divided into two segments. The first refers to fine dining establishments with elaborately decorated interiors and higher-priced food menus, which cater to more affluent consumers. The other…

Full-service restaurants sustained positive growth in current value terms in 2023, albeit at a slower rate than the previous year. This was partially due to the normalisation of consumer behaviour, following the eat-in boom experienced in the…

Limited-service restaurants in Indonesia saw an impressive performance in 2023, with current value sales exceeding pre-pandemic levels. Growth was boosted by an increase in mobility, including the return of Indonesians to their physical offices, as…

Limited-service restaurants managed to sustain a strong performance in current value terms in 2023, although the rate of growth was slower than the previous year. This was a result of the normalisation of behaviour in the aftermath of the pandemic,…

Self-service cafeterias registered a stagnant performance in Indonesia in current value terms in 2023. With a high proportion of these outlets typically located in hypermarkets, the performance of the category is heavily dependent on this retail…

Street stalls/kiosks saw a second year of double-digit growth in current value terms in 2023. These small booths typically targeted low- to middle-income consumers, who remained highly price sensitive. With the return of on-site working and…

Street stalls/kiosks continued to experience buoyant growth in current value terms in 2023. Sales were boosted by an increase in foot traffic in shopping malls, where a high number of chained outlets are located. Standalone stalls also benefited from…

There has been a significant rise in the number of Malaysians taking up coffee drinking culture, with the country ranked third highest in terms of coffee consumption in Asia Pacific. With Malaysians becoming more coffee-savvy, there are notable…

Coffee is a daily ritual for most people in Taiwan, but especially office workers, with this benefiting cafés/bars. Convenience store cafés/bars play an important role in due to the wide coverage of these stores, which gives consumers easy access to…

Cafés/bars continued to enjoy healthy growth in current value terms in 2023. This was attributable to a rebound in international and domestic tourism, following the revival of the travel industry in the aftermath of the pandemic., Such establishments…

Stand-alone remained the most popular consumer foodservice location in the Malaysian market in 2023. Most consumer foodservice operators opt for stand-alone locations for their outlets. There has been an increase in the number of consumer foodservice…

Most Taiwanese office workers eat out for lunch during the weekdays, with this shaping sales of consumer foodservice by location. In the north, most office workers either eat out in restaurants, get takeaway or order food on delivery for dinner as…

With Vietnam having experienced a strong rebound in international and domestic tourism in 2023, this served to boost the number of consumer foodservice transactions made in travel, lodging and leisure locations. According to official sources, more…

In 2023, the Malaysian consumer foodservice market saw the continued strengthening of the country’s coffee drinking culture, which provided a notable boost to the performance of the specialist coffee and tea shops channel during the year. The end of…

Consumer foodservice has witnessed a strong recovery since the second half of 2022 in Taiwan, with robust growth continuing into 2023, albeit at slower pace. Menu prices have increased since the pandemic due to higher inflation. Many foodservice…

Consumer foodservice in Vietnam experienced positive growth in current value terms in 2023, albeit at a slower rate than the previous year. This was attributable to the elevated rate of inflation, which impacted household spending. With prices…

The full-service restaurants category is seeing growing consumer interest in Korean-influenced restaurants. The Muslim-dominated community in Malaysia is favouring Korean dining concepts, with food options such as Korean fried chicken, gaining…

Jhujian Catering Group is enjoying fast growth in full-service restaurants in Taiwan, due to the strong performance of its key brands Jhu Jian and Yakiniku Smile, which target younger generations. Many of their stores are in shopping areas frequented…

The full-service restaurant industry continued to experience positive growth in current value terms in 2023, despite continued inflationary pressures This can be partly attributed to favourable government policies, such as the reduction in the VAT…

The Israel-Hamas War had an impact on limited-service restaurants in Malaysia from October 2023. In the majority Muslim country of Malaysia, the outbreak of the Israel-Hamas War led to a series of boycotting events aimed at multinational chains such…

Within limited-service restaurants in Taiwan, McDonald's collaborated with the famous Japanese manga series Dragon Ball, featuring its illustrations on exclusive packaging, meals and trading cards for fans to collect. This iconic anime successfully…

Limited-service restaurants in Vietnam experienced positive growth in current value terms in 2023, albeit at a slower rate than the previous year. This was attributable to the elevated rate of inflation, which impacted household spending. With prices…

Chained self-service cafeterias continued to see low levels of popularity in Malaysia at the end of the review period. The Ikea Restaurant brand maintained its dominant position in the market. Indeed, there are no other players with a significant…

The Taiwanese are keen on eating all-you-can buffets, as the diverse range of options caters to a variety of personal choices, with this benefiting self-service cafeterias. Since the COVID-19 pandemic, there has been a strong desire for more social…

The self-service cafeterias channel is not present in Vietnam and there are no signs that it will emerge over the forecast period.

Jom Cha by Farm Fresh is one of the latest street stalls/kiosks serving varieties of drinks such as bubble tea. One of the marketing tactics employed is the use of renowned fresh milk, Farm Fresh, which is produced locally and enables the player to…

There was a major shift in street-stalls/kiosks in Taiwan at the end of the review period. After a three-year pandemic, the re-opening of the Taiwanese border in October 2022 led to a surge in tourism, which resulted in crowding at tourist spots,…

Street-stalls/kiosks registered a marked slowdown in growth in terms of both current value and number of transactions in 2023. Such outlets are especially popular with lower-income segments, which were particularly impacted by the elevated rate of…

Cafés/bars in Thailand registered buoyant growth in current value terms in 2023. Growth was driven by the revival of normal pre-pandemic lifestyles, including the return of consumers to their physical workspaces and more regular contact with family…

In response to the revival of eat-in dining, foodservice players resumed their outlet expansion strategies in 2023. As in the previous year, retail was the most dynamic location in terms of growth in number of outlets, as operators looked to…

Consumer foodservice in Thailand registered a buoyant performance in 2023, with current value sales exceeding pre-pandemic levels. Growth was driven by the revival of normal lifestyle patterns, including the return of consumers to their physical…

Full-service restaurants in Thailand registered healthy growth in current value terms in 2023, alongside the strengthening of the economy. The revival of international tourism also had a positive impact on footfall and revenue within these…

Limited-service restaurants in Thailand experienced buoyant growth in current value terms in 2023, with current value sales exceeding pre-pandemic levels. Growth was driven largely by the revival of inbound tourism, following the lifting of all…

Self-service cafeterias is a relatively niche category in Thailand, with Ikano (Thailand) Co Ltd being the only player. During 2023, the company registered healthy growth in current value terms, thanks to the revival of normal shopping behaviour in…

Street stalls /kiosks in Thailand witnessed healthy growth in current value terms in 2023, with sales approaching pre-pandemic levels. This was driven to a large extent by the recovery of both domestic and inbound tourism, as both locals and…

After a difficult year in 2022, cafés/bars saw a significant rebound in current value terms in Hong Kong in 2023, although sales remained well below the pre-pandemic level. The coffee scene has become increasingly diverse in Hong Kong, with a wide…

Bars/pubs in Singapore continued to record sustained value growth in 2023, following a spike in 2022 as pandemic-related movement restrictions were relaxed. Renowned for its cocktail culture, Singapore is home to a diverse array of drinking…

Consumer foodservice through standalone experienced a strong rebound in current value terms in Hong Kong in 2023, with growth primarily driven by price increments. As the economy rebounded and consumer confidence returned, foodservice establishments…

Consumer foodservice through lodging in Singapore continued to record strong double-digit value growth in 2023, driven by a growing number of inbound tourists. The emergence of hotel-led food and beverage concepts reflects a notable trend within the…

Consumer foodservice saw growth in outlet numbers and transaction volumes in Hong Kong in 2023, along with significant current value growth. 2023 was a year of recuperation for consumer foodservice players in Hong Kong. The previous few years,…

In 2023, consumer foodservice in Singapore recorded moderate current value growth, signifying a marginal slowdown since the spikes of 2021 and 2022 when pandemic-related restrictions were first eased. The industry has had to contend with a number of…

After a challenging year in 2022, in 2023 full-service restaurants saw dynamic growth in volume transactions and current value sales in Hong Kong, even though outlet numbers remained fairly stagnant. However, amongst consumer foodservice players in…

In uncertain economic times marked by consumers’ rising budget concerns, chained full-restaurants in Singapore are implementing various strategies to enhance the perceived value of dining out for consumers. One common approach is to offer…