F&B Services Index
Food & Beverage Services Index (Jan 2023)
Sales of food & beverage (F&B) services grew by 21.8% in January 2023 on a year-on-year basis, extending the 13.9% increase in December 2022. The higher sales of F&B services was due partly to the Chinese New Year being celebrated in end January this year. It was celebrated in early February last year. On a seasonally adjusted basis, sales of F&B services increased 2.0% in January 2023 over the previous month.
The total sales value of F&B services in January 2023 was estimated at $1.0 billion. Of this, online sales of F&B services made up an estimated 23.3%, compared to the 23.4% recorded in December 2022
Year-on-Year Change (At Current Prices)
All F&B services industries recorded year-on-year growths in sales in January 2023. Food Caterers registered the largest growth in sales of 110.2%, due mainly to higher demand for both event and in-flight catering with the easing of restrictions on large-scale events, international travel as well as social gatherings. Similarly, turnover of Restaurants, Fast Food Outlets and Cafes, Food Courts & Other Eating Places increased between 11.5% and 21.7% during this period.
Month-on-Month Change (At Current Prices, Seasonally Adjusted)
On a seasonally adjusted month-on-month basis, sales of Restaurants as well as Cafes, Food Courts & Other Eating Places and Fast Food Outlets increased 6.5%, 0.6% and 0.4% in January 2023 respectively.
In contrast, turnover of Food Caterers fell 7.7% during this period
Read the latest report (in full) here: Monthly F&B Services Index
Food & Beverage Services Index (Jan 2022)
Sales of food & beverage services increased 9.5% in January 2022 on a year-on-year basis, compared to the 7.3% increase in December 2021. On a seasonally adjusted basis, sales of food & beverage services fell 3.5% in January 2022 over the previous month.
The total sales value of food & beverage services in January 2022 was estimated at $829 million.
Of this, online food & beverage sales made up an estimated 29.1%, compared to the 28.6% recorded in December 2021.
Read the latest report (in full) here: Monthly F&B Services Index