Asia Food and Beverage Innovation Summit 2024

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The Asia Food and Beverage Innovation Summit 2024 is a major gathering of representatives from international and Indonesia-based companies. This hybrid event combines both onsite live conference to be held in Jakarta, and a virtual event that will be livestreamed and watched by thousands of online views from around the world.

With a population of over 270 million people, Indonesia offers a wide market for its dynamic culinary heritage. The role of Food and beverage (F&B) industry is crucial in the Indonesian economy with an annual GDP growth rate of 6.47% in 2023. Its growth promises significant contribution in local job creation and the development of culinary culture. Investors recognize optimistic prospects in the industry, especially in the context of national economic recovery after the Covid-19 pandemic.

Factors influencing this dynamic industry are the easing of permits for international events, as well as the country’s push for the adoption of Industry 4.0 practices or integration of intelligent digital technologies into manufacturing and industrial processes.

While there is optimism on the F&B in 2023 and 2024, the industry is susceptible to global concerns. Global geopolitics, carbon concerns, deforestation, and the effects of climate change may pose challenges in the industry, including increased costs for energy, raw materials, and shipping. As a result, the stakeholders will need to consider both how the F&B industry can adopt the principles of industry 4.0 and how this sector can persevere in the face of upcoming difficulties.

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