Asia Pacific

In 2022 and 2023, independent self-service cafeterias demonstrated double-digit growth in retail value sales. The primary driver behind this success was the popularity of local Korean cuisine buffets, which provide a rich variety of options, and…

In 2023, tanghulu (sugar-coated fruits on a bamboo skewer) emerged as the most prominent snacking mega-trend in the entire food industry in South Korea. The popularity of tanghulu began with mukbang YouTubers who focused on ASMR content, creating…

In 2022, due to the resurgence of COVID-19 and the implementation of lockdowns, offline businesses were severely impacted, leading to a significant reduction in traffic and a high-single-digit decline in retail value sales of cafés/bars. Nonetheless,…

In the context of foodservice by location in 2023, there was a noticeable increase in the proportion of dining within retail, travel, leisure, and lodging locations compared with 2022. The primary reason for this shift was the impact of COVID-related…

In 2023, consumer foodservice in China saw a robust recovery in terms of value sales and transaction volumes, benefiting from the relatively low base of 2022, when consumer foodservice outlets were severely negatively impacted by prolonged periods of…

In 2023, full-service restaurants rebounded from the COVID-19 lockdowns experienced in 2022. However, there was a decline in the spend per transaction during the year, which can primarily be attributed to the overall economic downturn. The…

In 2023, limited-service restaurants in China saw a robust recovery in terms of both value sales and volume transactions, benefiting from the relatively low base of 2022, when consumer foodservice establishments were considerably impacted by…

In 2023, self-service restaurants experienced a revival of its growth rate, following the challenges posed by the COVID-19 lockdown the previous year. However, the average spend per transaction continued to decline, which was primarily linked to the…

Street stalls/kiosks benefited from the normalisation of consumers’ daily routine outside of the home in 2023, with chained tea street stalls leading the surge. While other formats of street stalls/kiosks, such as those offering braised snacks, fried…

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,…