1、Experts in what consumers want and whyKey opportunities and consumer groups for brands to focus sustainable efforts on in the food industry.*This is a highlight of Mintel Insights report,for the full content,please reach out to your account manager or drop us an email: How SEA food consumers expect
2、brands to be sustainableWhy the Southeast Asian market is now ripe with sustainable food opportunities.Southeast Asia is experiencing strong foreign investments despite global economic uncertainty.The regions favourable investment climate,growing regional integration and stable GDP growth are key fa
3、ctors supporting this.In Q2 of 2024,foreign direct investment(FDI)net inflows in Southeast Asia saw a slight growth of 2.2%,reaching$42 billion.The region is also set to outpace China in GDP and FDI growth,with the SEA-6 countries(a group of six Southeast Asian nations)having grown their FDI by 37%b
4、etween 2018 and 2022.The International Monetary Fund(IMF)projects a regional growth rate of 4.6%for 2024,reflecting strong performance in the first half of the year.According to forecasts,the number of middle-income and affluent households in the region may grow 5%annually to 2030.The broader Asian
5、middle class could grow from 2 billion in 2020 to 3.5 billion by 2030.Southeast Asias favourable economic future3Source:National Statistical Offices/Asian Development BankFuture growth in SEA is forecast to be strongly positive:as consumers get wealthier,they will likely trade up to more sustainable
6、/ethical options.Southeast Asia s positive growth perspective20212022202320242025202620272021-2027Philippines5.77.65.65.96.16.36.36.1Vietnam2.68.05.07.16.06.06.06.0Indonesia3.75.35.15.25.05.15.15.1Median of the region3.46.55.15.34.74.84.64.8Malaysia3.18.73.75.34.44.44.04.4Singapore9.13.85.64.03.02.5