Food Tech & Services market in Malaysia is forecasted to experience rapid growth with a projected 15.2% CAGR, aiming to achieve a value of USD 1.8 billion by 2027. this expansion is propelled by the widespread use of the internet and smartphones, an increase in disposable incomes, and the burgeoning popularity of online food delivery services. Notable categories within the Malaysian market encompass online food delivery, food discovery platforms, kitchen rental spaces, and other innovative food tech services like meal kits and solutions for reducing food waste.
In parallel, the food tech & services market across Southeast Asia is anticipated to surge at a 16.3% CAGR, targeting a value of USD 11.2 billion by 2027. Similar driving forces observed in the Malaysian market, such as escalating internet usage, rising incomes, a flourishing preference for online food delivery, and government support for food technology, shape the trajectory of the broader regional market. The key segments in the Southeast Asian market mirror those in Malaysia, including online food delivery, food discovery platforms, kitchen rental spaces, and a variety of other food tech-driven services.
Cultivate success in the burgeoning food tech & services market of Malaysia and Southeast Asia! Harness the potential of cutting-edge technology, align with evolving consumer preferences, and position your brand at the forefront of innovative dining solutions. Leverage the opportunities to capitalize on this dynamic and expanding market, setting your business on a trajectory for growth and success.