According to a report by BMI, A Fitch Solutions Company, rapid economic growth and growing urbanisation in Asia are translating to a growing number of dual-income households with higher disposable incomes. However, these households are becoming more time-constraint especially when it comes to preparing their own meals.
This has indirectly fueled demand for packaged and convenience RTE foods, as households cut down on eating out to save costs. As an example, in Vietnam, per capita consumer spending on packaged food has risen from US$12.10 in 2019 to US$17.20 in 2025, and it will further grow at a CAGR of 7.4% in the future.
BMI forecast that Indonesia has one of the highest per capita spending in the region rising from US$31.60 in 2019 to US$45.80 in 2025. It is expected to grow to US$50.60 by 2028.
The following Chart 1.0 showed the per capita spending on packaged food in selected countries in Southeast Asia.
