Market Analysis of the Halal Food & Beverage Industry in Indonesia
Spire COO, Jeffrey Bahar presented on the development and outlook of Indonesia’s halal F&B industry and connectivity with the banking industry at a national webinar.
In a national webinar conducted on 26 September 2022, Spire Chief Operating Officer Jeffrey Bahar discussed the outlook of the domestic halal food and beverage (F&B) industry after the pandemic. According to the Global Islamic Economy Indicator 2020, Indonesia’s halal food industry positions fourth globally.
The F&B sector plays a crucial role in Indonesia’s economic recovery. In 2020, it grew positively by 1.58%. Jeffrey explains that the F&B industry has immense opportunities to expand, specifically on its halal food offerings.
Jeffrey also revealed the shift in consumer behaviour since the Covid-19 pandemic. While traditional retail is still the main destination for consumers to shop, there has been an increase in consumption of frozen foods and health foods. The industry is becoming increasingly integrated and digitized in the supply chain process. These include developments in sales channels through e-commerce, digital platforms, and the use of digital payments.
On connectivity with the banking industry, Jeffrey commented that fintech are starting to provide similar services. He recommends providing banking services that are comprehensive, cheap, easy, and fast, both in terms of financing and transaction management to business to reduce the impact of disruption.
Watch the webinar – https://youtu.be/ubxLIBbGb7o
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Manager, Group Corporate Communications
Spire Research and Consulting
Phone: (65) 6838 5355