The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMay 2013
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Though often overshadowed by China and India, Southeast Asian markets represent major foodservice opportunities. The region’s six largest countries have a collective US$118 billion in total value, with chained value expected to grow at a CAGR of 5% between 2011 and 2016. They are also home to young populations of confident consumers, established dining-out cultures and growing interest in chains, suggesting they could be particularly fertile ground for growth over the long term.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Any operator looking to make headway in Southeast Asia will have to find a way to resonate with young local consumers. Consumers under the age of 30 make up the majority of the combined population, and they are drawn to exciting dining experiences, varied menus, strong branding and innovative technology.
Despite the region’s emerging market status, 24% of its population is on Facebook and many participate in a growing culture of online food-sharing. This lends operators the opportunity to market their brands and interact with consumers on their own terms.
Street food dominates Southeast Asian consumer foodservice, claiming 55% of regional transactions in 2011. Chained operators can compete for this demand using menu innovations that target snackers and multi-format outlet strategies that maximise appeal.
Thailand’s convenience store market has thrived on the backs of a culture of constant snacking throughout the day, and rapid expansion by Japanese chains. Now, all the major players are looking to increase their outlet density significantly in the hopes of claiming share. Fierce competition and saturation should be a long-term concern.
Just as international operators are scrambling to gain traction in Southeast Asia, local operators are setting their sights abroad. Jollibee is cementing its presence in the US and Middle East through strategic expansion and China through acquisitions, while Thai chain 5 Star Chicken is testing the international waters with a presence in India.
Chicken foodservice is set to offer significant growth opportunities in various formats, and so far the competitive landscape is relatively thin. KFC, Mang Inasal and 5 Star Chicken are battling for share, leaving room for new concepts in a range of categories.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.