The GDP of Southeast Asia (SEA) has skyrocketed over 30% over the past 10 years, reaching US$ 3.11 trillion in 2020 even amidst the global pandemic.
A Spire study finds that years of sustained economic prosperity has fundamentally altered the palates of SEA consumers, shifting preferences towards health-conscious and locally produced food, even at higher prices. With 69% of SEA consumers preferring products made with fresh, natural and organic ingredients, the region is touted as the “organic market of the future”, eyeing the almost US$130 billion global organic market.
Where are the opportunities for F&B businesses in SEA’s changing appetite?
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For media enquiries, please contact:
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355