Food and Beverages Industry

Overview in Indonesia
July 2022

This report is co-created by Accelerice and Ravenry using publicly available information as
well as data proprietary to the authors. It intends to give readers high-level information
on Indonesia's overall F&B industry landscape, without going into details.
 Key Takeaways
• Indonesia’s F&B Industry records a 10.7% growth rate in 2021, the highest
growth rate we have seen in the past several years amid the COVID-19
pandemic.

• Specifically in the food category, wheat-based products category has the

largest market share with 19% of market share, whilst soft drinks dominate
the non-alcoholic drinks market with a 40.11 USD average revenue per
capita.

• Offline F&B outlets still dominate the way of shopping for Indonesians.
However, online platforms are showing significant growth and have become
the preferred way of shopping in the past two years, with at least five times
the growth rate of their offline counterparts.

• Indonesian consumers are entering the emerging era, as food’s hygiene and
safety has become a wide concern.

• The rise of the middle class in Indonesia increases buying power and
consumption habits, which means more spending on health-related
products, groceries, entertainment and food delivery.

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 Key Takeaways
• The domination of the younger Indonesian generation has led to a shift
in purchasing behavior, including decreasing brand loyalty due to the
vast array of choices.

• Rice platter with side dishes and vegetables remains the most desired
staple meal in Indonesia, as Indonesia’s love for snacking and
“unhealthy” food continues to rise.

• On Online Food Delivery platforms, chicken-based food, coffee, and

noodles are the most ordered food by Indonesian.

• Despite the fierce competition in Indonesia’s F&B market, especially

the FMCG sector, local players and products are still maintaining their
brands as household names.

• Indonesia’s F&B startups received the most funding compared to other

countries in SEA, with a concentration of funding in online groceries.

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Chapter 1:
Market Size and
Trends
The F&B market has consistently shown growth in the past 5 years despite the COVID-19 pandemic
that started in early 2020 globally.

Indonesia's Food & Beverage Market Revenue

(2017-2021)
300 12.0% Indonesia’s F&B industry continues to grow amid the
258.49
10.7% COVID-19 pandemic, and in 2021, its revenue reached
250 233.43 10.0%
226.72 a 5-year-high at USD 258.49 million. It is one of the 9
205.01 208.57
200
8.7%
8.0%
non-oil and gas sub-sectors that prevail to record
growth in 2021.
150 6.0%

One of the main drivers is the rising income and the

100 4.0%
surge of the Indonesian middle-class category,
3.0%
50 2.0%
resulting in increased demand for foods and
1.7%
beverages.
0 0.0%
2017 2018 2019 2020 2021 By 2026, the revenue is expected to rise to USD 360.5
Revenue (Billion USD) Annual Growth million.

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Wheat-based products remain the top revenue generator, followed by confectionery and snacks, with
a notable increase in vegetable and meat of more than 9.5%

1% 180
162.4
2%

Average Revenue per Capita in USD

160 148.6
5% 146.3
136.1 136.5
5%
19% 140
118.6
6% 120
106.6
102.7
90.57 93.47
7% 100

14% 80

8% 60

40

20
9% 12%
12%
0
2017 2018 2019 2020 2021

Wheat-based Products Confectionery & Snacks Meat Wheat-based Products Confectionery & Snacks Vegetables
Vegetables Fish & Seafood Fruits & Nuts Meat Fruits & Nuts Dairy Products & Eggs
Sauces & Spices Fish & Seafood Oils & Fats
Dairy Products & Eggs Baby Food Conveniece Food
Baby Food Spreads & Sweeteners Conveniece Food
Spreads & Sweeteners Sauces & Spices Oils & Fats
Pet Food
Pet Food

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Soft drinks’ revenue increased by 13% in the non-alcoholic drinks category, followed by bottled
mineral water with an increase of almost 11%
60

3% 50.1

Average Revenue per Capita in USD

50
43.8 44.25
40.11
40

30 36.82
20

10
2.24 2.4 2.52 2.39 2.65
0

45% 52% 2017 2018 2019 2020 2021

Soft Drinks Juices Bottled Water

Soft drink is defined as water-based, non-alcoholic, carbonated and non-carbonated

drinks. It also covers tea and coffee-based packaged drinks, which has become
Indonesia’s staple meal companion with popular brands such as The Botol, The Pucuk,
Fruit Tea, and YOU-C 1000.
Soft Drinks Bottled Water Juices

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Due to the geographic uniqueness of Indonesia, the F&B market is still dominated by traditional
groceries and wet markets

% Contribution to Total F&B Outlets (2021)

Supermarkets,
0.03%
Hypermarkets, • In 2021, there were over 4.5 million traditional stores across the
0.01%
country, approximately 35.000 convenience stores, 1.500
supermarkets, and 350 hypermarkets.
Convenience
Stores, 0.77%
• Supermarkets and hypermarkets are located mostly in urban
areas and big cities. These are the main distribution channels
for imported products. Some of the large hypermarket chains in
Indonesia include Transmart, Lotte Mart, Superindo, and The
Grand Lucky, while big supermarket brands include Foodmart,
Ranch Market, Foodhall, Farmers Market, and Papaya.
Traditional
Stores, 99.19% • In addition, convenience stores (FamilyMart, Lawson) and e-
commerce platforms (Tokopedia, Shopee) have grown in
Traditional Stores popularity in recent years.
Convenience Stores
Supermarkets
Hypermarkets

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Full-service restaurants are the largest foodservice type, accounting for around 50% of the total
outlets in 2020

Number of Indonesia’s Foodservice Establishments by Type

(2019-2020)

Total 217,693
216,048
• The number of food service establishments in
Indonesia did not change significantly from
Full-service Restaurants 106,128 2019-2020.
104,819
• Street stalls and kiosks are the second most popular
Street Stalls/Kiosks 98,226
97,810 channels for Indonesians. Thus, F&B businesses,
especially foreign players looking to enter the market,
Limited-service Restaurants 7,081
7,161 have clear strategies put in place to utilize these
channels.
Cafes/Bars 5,632
5,634

Self-service Cafeterias 626

624

2020 2019

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The consistent growth of Online Food Delivery over the past years is in line with the rise of fintech
and digital payment as well as the impact of COVID-19 on customer behaviors

Market Size of Online Delivery

of F&B Industry (2017-2020)
2
1.8
1.6 • Indonesia’s e-commerce transaction value reached USD 27.5
billion in 2021, equivalent to 48.5% year-on-year growth. One
1.4
of the beneficiaries that recorded the highest growth is the
1.2
F&B industry.
1
1.76
0.8
1.43 • Online channels in the F&B industry have been growing at
0.6 1.13 least 5 times more than offline channels.
0.4 0.85
0.2
0
2017 2018 2019 2020
Online Delivery (Billion USD)

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Compared to the other countries in SEA Region, Indonesia had a more significant adoption of Online
Food Delivery (OFD) even before the pandemic

120%

Revenue of Restaurant vs Online Platform to Consumer Delivery (in

100% Million USD)
17%
26% 500
436.8
80% 450
400
366.3
60% 350
216.2
300 256.1
40% 83% 250
74%
200 94.86
20% 150 50.53 114.5
28.94
100 61.08
50
35.39
0%

SEA Indonesia 0
2017 2018 2019 2020 2021
Users of OFD before Covid-19 Restaurant-to-Consumer Delivery Platform-to-Consumer Delivery

The user penetration rate of the OFD segment is expected to reach 8.9% by 2022, with the average revenue per user (ARPU) projected to reach USD
45.66 by 2022. With the establishment of online food delivery services in Indonesia, the revenue of the OFD segment has reached USD 366.3 Million
in 2021 and is predicted to reach USD 788.3 Million by 2026.

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Indonesia’s FoodTech and AgriTech landscape is growing as startups emerge to solve the issues in
Indonesia’s declining agricultural sector, despite its growth potential.

Challenges Current Focus

Indonesian farmers are still operating under inadequate Indonesian startups like eFishery, TaniHub, and ChiliBeli are trying to bring solution
working capital, preventing them from being efficient. to the current state of Indonesia’s agriculture and food sector by providing
According to the Global Food Security Index, which technology that helps to assist farmers so they can operate more effectively.
considers the food affordability, availability, quality & Solution provided includes giving connection to consumers or other businesses,
safety, natural resources, and resilience of a country, improving their overall operational process, and more.
Indonesia is ranked 69th out of 113.

Strength Prominent Players

Indonesia is blessed with an abundance of natural
resources, being at the line of active volcanoes with a
supportive climate for agricultural production

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Indonesian F&B Trend on Consumer-Packaged Goods highlights sustainability concerns and easy-to-
prepare packaged foods

Sustainability Concerns
Indonesia’s consumers are preferred to buy Example of Trend Application
environmentally friendly products. In recent
research, 72% of respondents focused on the Aqua, a bottled water brand in
environmental impact, and 68% on the social Indonesia, introduced a 100%
impact of their purchasing decisions. Brands recyclable bottle as an option, and
should be able to position themselves as F&B brands and convenience stores
sustainable products to win customers in the are significantly reducing single-use
long run. plastic by charging customers and
limiting the use of plastic straws

Easily Prepared Foods

Brands like Fiesta are launching their
Customers’ interest in easy-to-prepare meals to ready meal products, and
enhance the home cooking experience is convenience stores like Indomaret,
growing as an ongoing impact of months of FamilyMart, and Lawson are providing
lockdowns and social restrictions. Food microwavable meals.
producers are encouraged to diversify pre-
packaged foods, ready-to-eat, and easy-to-cook
meals, to name a few.

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Indonesian F&B Trend on Warm Food Services is supported by the tourism sector recovery and the
growing number of foreign businesses in Indonesia

Tourism Sector Recovery Example of Trend Application

After a long period of social and travel
restrictions to curb the pandemic, tourism is
back in business. As the growth of the tourism
and food service industries are interdependent,
catering services businesses benefit from the
increasing number of tourists.

International brands like Subway, Hai Di Lao, and Taco Bell are
Increase of Foreign Businesses trending and making their way into the market. Nowadays, it is
Indonesia is an attractive market for also easier to review foods and for brands/products to go viral
international foodservice companies. Over the over social media contents.
past few years, more foreign F&B brands and
companies have entered the Indonesian market, However, currently these brands are only available in Indonesia’s
especially in the restaurant and hotel sector, metropolitan cities such as Jakarta and Surabaya
which will significantly stimulate the industry
and foreign investment.

NOTE: Warm food refers to food that is served ”warm” e.g., served in restaurants, street stalls and catering

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Indonesian F&B Trend on locally resourced food includes the modernization of local F&B Brands and
the emerging interest in healthy foods

Modernization of Local Brands

F&B brands specialized in local Indonesian
cuisine have become popular among young Example of Trend Application
generations. Unique selling points of these
brands include high-quality, affordable, beautiful
design, and readily available on delivery
platforms.

Emerging Interest in Healthy Food Brands selling local Indonesian food with modern design,
Indonesian consumers have increasingly branding, and packaging are trending (HaloBali, Se’i Sapi
preferred healthy products, and together with Lamalera, Mangkokku), which are also available on Online
stricter governmental regulations and standards, Delivery platforms.
this could mean F&B producers need to upgrade
their production technology and standards to
stay competitive.

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Healthy food trend has a significant impact on Indonesia’s F&B Landscape, as healthy brands emerge,
and big brands are shifting to introduce healthy menu variant.

Big brands such as KFC and Starbucks are now offering More independent, healthy F&B brands such as SaladStop and
healthy alternatives. KFC opened its first healthy food branch Burgreens opened new branches in Indonesian cities. They
in Jakarta, “Naughty by Nature” and Starbucks collaborates offer a wide range of healthy foods, such as gluten-free and
with Indonesia’s alternative protein brand, Green Rebel. vegan foods, with price range from Rp50,000 – 150,000.

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The entrance of well-known international F&B brands coupled with exposure into the country is very
well received by the Indonesians

The Long Lines of Subway on their Launching Days The Beach Road Scissor-Cut Curry Rice
Level of interest over time
Source: Google Trends

Subway Indonesia officially opened its branch in October 2021, making a The Beach Road Scissor-Cut Curry Rice opened its first branch in Jakarta in
comeback after being absent in the Indonesian market for almost 20 years. February 2022 and has gained virality from TikTok and other social media content
When it opened, the eager customers had to queue for more than 1.5 posted by consumers. From Google Trends data, we can see that the brand has
hours to get their hands on the sandwiches. Due to the long queue, Subway several moments of virality, but the interest level has been wildly fluctuating.
had to limit the purchase of only two sandwiches per person.

Well-known international brands like Subway and Scissor-Cut usually become popular quickly and “viral” only for a few months following their launch.
However, in the Indonesian market, the real challenge remains to sustain their business and make their products a staple or primary choice.

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Chapter 2:
Consumer Preference &
Behavior
Shifting from the incubation to emerging era: Consumer behaviour has changed following COVID-19
pandemic and businesses need to adapt

The Incubation Era The Emerging Era

(2015 - 2020) (2020 - 2025)

Consumers are seeking quicker access to F&B In response to the pandemic, consumers are being
products, and a more efficient way to order food in more attentive to the foods’ hygiene and safety
terms of time and resource. from food processing to payment method.

Shifting from traditional dine-in food experience, With consumers having a wide array of choices,
consumers are looking for a more contemporary brands are doing collaborations and creating
experience on F&B, which affects the products’ seasonal menus to stay on the consumers’ top-of-
branding and differentiation. mind.

F&B merchants and companies need lower Merchants are looking for a more efficient way to
overhead cost which leads to the need of space operate their business, starting from the order and
efficiency. inventory management.

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With the domination of the digitally savvy population, there is a shifting behavior in terms of
purchasing behavior, and this is no exception to F&B products.

Indonesians by Population (2020 Data) Indonesians Purchasing Behavior: What’s Changing?

2%
Post Gen Z (2013 - now) Indonesians' digital literacy rate is increasing, and online platforms
have been the preferred way to shop hence it is important for
11% 11%
Gen Z (1997 - 2012)
brands to navigate into omni-channel strategy.

Millennial (1981 - 1996) Being faced with a vast array of choices, consumers brand loyalty are
28% decreasing and the desire to try out new, exciting brands/products
22% are increasing.
Gen X (1965 - 1980)

Baby Boomer (1946 - There’s a more diverse option on how consumers would like to enjoy
1964) their foods such as eating out, dining in own house, and self-pick up.
26% Pre-boomer (before A survey conducted on 2,000 people shows that 37% of respondents
1945) prefer to eat outside for lunch compared to breakfast (23%) and
smaller 15% for dinner.
*It is known that Millennials, Gen Z, and
Post Gen Z are more digitally savvy
compared to the previous identified
generations.

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The rise of the middle class in Indonesia: Increase in buying power and consumption habits means a
shift in dietary patterns and health consciousness

4,760.65

4,751.94

4,716.73

4,695.60
75,6% of Indonesia’s population classifies as middle class – this
4,673.65 means a higher expectation of dietary requirements and demand
for a more diversified diet with balanced nutrition value.

2017 2018 2019 2020 2021

Indonesian Purchasing Power Parity (National Currency per USD)

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More than 50% of the middle-class population spends an average of USD 150-200 per month on daily
expenditure

66.3 67.6 68.7 Indonesian Socioeconomic Status (SES) Middle

Characteristics and Behavior
15% 15% 16%

Daily Expenditure (Average)

IDR 2-3 Million (USD 150-200)
Universe Household

55%
(in Mio)

55% 56%
Electricity (Modus)
450 – 1300 Watt

Source of Drinking Water (Modus)

Refilling Water
30% 29% 28%

Fuel for Cooking (Modus)

2018 2019 2020 LPG 3 KG

SES Lower SES Middle SES Upper

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For generations, Indonesians have been using the “4 sehat 5 sempurna” (4 healthy 5 perfect)
philosophy to balance out their meal and diet

4 Sehat 5 Sempurna
Composition

50% Fruits and Veggies

30% Carbohydrates Indonesian mixed-rice dish typically contains a bowl of rice (white, sometimes red/brown
rice) with a side dish and protein, as staples include an affordable option such as tofu,
tempeh, and anchovies. Typical Indonesian meals like this can be found in Warung Tegal
(Warteg), with a price range of Rp10,000 – 17,000 per plate.
20% Protein (Side Dish)

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While following the 4 sehat 5 sempurna philosophy is adopted by most, Indonesians still widely and
knowingly consume “unhealthy” foods

Respondents Healthiness Perception Respondents Healthiness Perception

Type of Food Type of Food
Consuming Rate Rate Consuming Rate Rate

Rice platter with side Fruit 23.5% 4.73

83.5% 4.45
dish + veggies

Fries (Gorengan) 62.1% 2.37 Dessert 17.3% 3.66

Cake/bread 60.5% 3.66 Various Meat Soup

16.4% 3.70
(Beef/Mutton)
Rice platter with side
57.3% 3.68
dish (no veggies) Mutton Satay 14.8% 3.37

Bakso/Soto 54.1% 3.14

Vegan Food 10.8% 4.24
Instant Noodles 53.3% 2.07
Innards 7.8% 2.95
Fried Noodles/Rice 44.8% 3.00
•n: 2,003 Respondents
Fast Food 40.3% 2.45

Pecel Lele 37.2% 3.59 Healthiness Perception Rate

•1: very UNHEALTHY
•5: very HEALTHY
Padang Cuisine 23.7% 3.34

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Indonesians love snacking, with chips as the nation’s most preferred form of snack and most are
willing to spend Rp5.000-15.000 for snacks

What kind of snacks do Indonesians usually How much would Indonesians be willing to spend
consume? (n=10.000) on snacking products?

Chips 40.00% 37.50%

Biscuit or Cookie 35.00%

30%
Bread and Cakes 30.00%
22%
Chocolate Bar 25.00%
22%
Fresh Fruit 20.00% 13%
Candy 11% 15%
15.00% 13.5%
12%
Yogurt 10.50%
10.00% 7.50%
Protein Bar 6%
5.00%
Chocolate Bar
0.00%
Vegetable or Salad Up to 5.000 5.000 - 15.000 - 25.000 - 35.000 - More than
15.000 25.000 35.000 50.000 50.000
0 200 400 600 800
Female Male

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As an archipelagic country with diverse culture, Indonesia offers different dishes with various flavors,
but spicy food seems to unite the country

Bali
Savory and Spicy
Semarang (Central Java)
Sweet, Less Spicy Kalimantan
Savory, Sour, and Spicy

Yogyakarta (Central Java)

Sweet, Less Spicy 62.6% of 500 Indonesians mentioned they love
spicy food, and 31% moderately like spicy food.
Meanwhile, only 6.4% are not fond of spicy food.

Padang (West Sumatra) Sulawesi

Papua
Savory and Spicy Spicy and Sour
Savory

Surabaya (East Java)

Savory and Spicy

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Chicken-based foods and coffee have become the most popular dishes ordered by customers via
online food delivery applications

Chicken-based Coffee Noodles Milky Drinks Dimsum

Price Range Rp15.000 – 35.000 Rp13.000 – 25.000 Rp12.000 – 24.000 Rp20.000 – 31.000 Rp16.450 – 27.405

Trending Brands

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Chapter 3:
F&B Supply Chain
Ecosystem Mapping
Indonesia’s FMCG market is dominated by long-established local and international players, with local
brands domineering the purchased products

YTD 2017 Value Share of FMCG in Indonesia Most Purchased Food & Beverage Products
(Indonesian FMCG Category in 2021)
Indofood 10.20%

Unilever 10.10%

Wings Group 9.70% 2.190 Billion 1.799 Billion

Units Units
Danone 5.10%

Mayora 4.40%
1.243 Billion 1.209 Billion
Kapal Api Group 4.20% Units Units
Nestle 3.90%

FFI 2.70%
955 Billion
KO 2.20% 1.101 Billion
Units
Units
Unicharm 2.20%

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 The Big Brands - FMCG

Despite the fierce competition, local players still maintain their brands as household names and
remain prominent in Indonesia’s F&B scene for generations

Founded 1990 1977 1948 1958

Yearly Revenue
42.62 million IDR 7.3 million IDR 7 million IDR 1.62 million IDR
(2021)

Rp2.100 – 5.900 Rp500 – 6.650 Rp2.842 – 3.000 Rp5.500 – 19.700

Top 3 Products & Rp3.500 – 3.700

Rp3.000 – 18.200 Rp6.500 – 9.000 Rp2.100 – 9.000
Price Range

Rp18.000 – 20.000 Rp2.000 – 34.000 Rp2.990 – 3.500 Rp2.700 – 5.000

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However, F&B startups are on the rise. In 2021, Indonesia received the largest funding amount in the
region in the F&B category, particularly in the online groceries sector
Median Funding Value per Category & Type (FY 2021)
Total of Funding Value in Indonesia’s F&B Industry (FY 2021)
Note: Kopi Kenangan raised a $96m Series C funding at Unicorn Valuation
48.5
Indonesia 644

Singapore 152 16.6 16.6

7.8 10.5 9 11
5 3.2
0.4 n/a n/a 1.4 0.1 0.5 0.9
Malaysia 44
Food Delivery Fresh F&B Food Discovery App Online Grocery

Philippines 38 Seed Series A Series B Series C

Vietnam 36
List of Investors

Thailand 31

0 100 200 300 400 500 600 700

Funding Value (in Million USD)

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 Emerging Brands – FMCG

Emerging startups are shaking the FMCG market by introducing healthy packaged products that can
be grabbed over the counter

Founded 2015 2017 2019

An Indonesian startup focusing on healthy Originally an individual store coffee chain, Indonesian alternative protein startup
Description and lifestyle FMCG products. Kopi Kenangan is expanding to the FMCG selling healthy packaged and ready-to-eat
segment with packaged coffee products. meals.

Funding Value & Round $72 million USD – Series C $333 million USD – Series C $7 million USD – pre-series A Round

Alpha Wave Global, Horizons Ventures,

Sequoia Capital India, Sofina, Alpha JWC
Investors KUNLUN, Falcon Edge India, Tybourne Unovis and Better Bite Ventures
Ventures, Unifam Capital, East Ventures
Capital Management, etc.

Healthy Instant Noodles, Snacks, Oils and Alternative protein and ready-to-eat
Product Range Packaged Flavored Coffee
Fats meals/products.

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 The Big Brands (International) – Food Services

Indonesian incorporated companies (PT) with international brands license dominate the food services
segment with a focus on providing fast food services

PT Rekso Nasional Food PT Fast Food Indonesia PT Sari Melati Kencana PT Sari Coffee Indonesia
Company Name
(McDonald’s) (KFC, Taco Bell) Tbk (Pizza Hut) (Starbucks)
Established in
1991 1978 1984 2002
Indonesia

312.3 million IDR 241.54 million IDR 60.77 million IDR 30 million IDR
Yearly Net Revenue (2020) (2019) (2022) (Q1 2018)

Price Range Rp15.000 – 42.727 Rp12.000– 68.182 Rp26.000 – 123.000 Rp25.000 – 80.000

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 The Big Brands (Local) – Food Services

Whereas locally originated brands mainly focus on the lifestyle and provide local experience, or high-
end lifestyle targeting middle to upper-middle class

PT Mitra Selera Bersama

Company Name PT Ismaya Group Sejahtera PT Citarasa Prima Indonesia
(UNION Group)

Established 2003 2013 2013

Ismaya Group is a hospitality-focused CRP Group is a multi-brand F&B UNION Group focuses on giving high-
company with several lifestyle product company focusing on Indonesian quality food and experience, mainly
Description segment such as restaurants, bars, and culinary and taste. targets middle to upper class
music concerts/festivals. consumers.

Skye, Djournal Coffee, Kitchenette, Nasi Goreng Rempah Mafia, Warunk Benedict, Bistecca, Caffè Milano,
Brands Sushigroove, Social House, The People's Upnormal, Bakso Boedjangan, Ayam Cork&Screw, Loewy, ROMA, The
Cafe Bersih Berkah Dutch, Union, Pierre

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 Emerging Brands – Food Service

Public figure affiliated brands are emerging as well as multi-brand companies and cloud kitchens to
solve the problem of high overhead cost

Founded 2018 2019 2019 2019 2019

Indonesian beverages brand Culinary startup built by

started by a public figure, renowned chef Arnold An Indonesian culinary An Indonesian on-demand Indonesian startup with
Description Gibran Rakabuming, selling Poernomo, Gibran, and startup with cloud kitchen startup with online multi- Food Tech Cloud Kitchen and
Indonesian-traditional Kaesang offering various forms and multi-brand concept. brand concept. Online Catering concept.
beverages with a modern touch of rice bowls.
Cloud Kitchen with Own Cloud Kitchen with Own Cloud Kitchen Partnering
Type of Company Indonesian Beverages Brand Rice Bowl Restaurant Brand
Brands Brands with Other Brands

$5 million USD – Series $24 million USD – Series A & $19.8 million USD – Series B
Funding Value & Round $9 million USD – Series A $13 million USD – Series A
Unknown B Funding Extension

Alpha JWC Ventures, Atlas BRI Ventures, Palm Drive

Alpha JWC Ventures, Cakra Led by Vertex Ventures SEA,
Investors Alpha JWC Ventures Pacific Capital, SALT Capital, Softbank Ventures
Ventures, and Emtek Group and Kinesys Group
Ventures, Heyokha Brothers Asia, and others

Indonesia-culinary Inspired Moon Chicken, Kopi

Product Range Rice Bowls Dailybox, Shirato, BreadLife 50+ Brands Partner
Beverages Daripada, San Gyu, etc.

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 Emerging Brands – Online Groceries

Online Groceries brands attracted many venture capitals as demand is high, especially during the
Covid-19 period, and have continued to be able sustain their consumers’ habit

Founded 2014 2015 2016 2020

TaniHub focuses on becoming a

Indonesian online shopping
HappyFresh is one of the first online B2B platform that connects As an e-grocery startup, Segari
platform experience offering a
Description groceries brand that aims to provide farmers and businesses such as offers fresh food products and
wide range of groceries from
easy access to grocery shopping. hotels, restaurants, high-quality produce.
vegetables to fresh meat.
supermarkets and small kiosks.

Funding Value & Round $95 million USD – Series D $94.5 million USD – Series B $192.2 million USD – Series C $116 million USD – Series A

Led by Naver Financial Corp and Led by MDI Ventures, with Led by Northstar Group, with Led by Go-Ventures, with
Gafina, with participation of Singha participation of Tenaya Capital, participation of Astra participation of Susquehanna
Investors
Ventures, Mirae Asset-Naver Asia, Flourish Ventures, BRI Ventures, International, Global Brain Corp, International, AC Ventures,
etc. etc. Sygenta Ventures, etc. Saison Capital, etc.

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The following government organizations play a vital role in providing relevant licenses and
gathering information for F&B players looking to enter the market, export goods, or launch new
products.

National Agency of Drug Ministry of Religious Ministry of Trade Ministry of Industry

and Food Control Affairs

The BPOM is responsible for Halal Product Assurance Agency The Ministry of Trade plays a The Ministry of Industry is
standard and quality control of is now under the surveillance of significant role in managing the responsible for managing
edible and usable products in Indonesia’s Ministry of Religion policy and practice of import and commodities’ prices and
Indonesia, especially food and Affairs since 2017. Halal export activities, including the food strategizing how industry-
drugs. BPOM issues safety certification, where relevant, is and beverages sector, as manufactured products,
certificates, and brands can apply essential in a Muslim-dominated commodities like vegetable oil is one including food and beverages
through their official website. country such as Indonesia. of the nation’s largest export. in Indonesia, can be improved.

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 References
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• Ayuningtyas Nur Paramitasari (2021). Stable Outlook for Food & Beverage Industry.
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triple-in-southeast-asia-by-2025/.
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• McKinsey (2022). Survey: Indonesian Consumer Sentiment during the Coronavirus Crisis. https://www.mckinsey.com/business-functions/growth-marketing-and-
sales/our-insights/survey-indonesian-consumer-sentiment-during-the-coronavirus-crisis.
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Tenet Value from an Ethical Perspective.
• The Jakarta Post (2020). GoFood sees double-digit increase in transactions during pandemic. https://www.thejakartapost.com/news/2020/05/14/gofood-sees-
double-digit-increase-in-transactions-during-pandemic.html.
• Widhi Luthfi (2021). Sederet Produk Kemasan yang Paling Diburu Konsumen Indonesia. https://www.goodnewsfromindonesia.id/2021/07/27/dari-kapal-api-
hingga-indomie-inilah-sederet-produk-fmcg-yang-paling-banyak-dibeli-masyarakat-Indonesia.

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Thank You!

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