Jakarta - Indonesian food and beverage products succeeded in attracting visitors to the 2024 Summer Fancy Food Show (SFFS) exhibition held at the Javits Center, New York, United States (US) on June 23 to 25, 2024. During the three-day exhibition, the Indonesian Pavilion recorded potential transactions of USD44.45 million.
This year, the Indonesian Pavilion carries the theme "Trade with Remarkable Indonesia" which was officially opened by the Indonesian Consul General in New York, Winanto Hadi, the Chief Representative of Bank Indonesia in New York, Wahyu Agung Nugroho, and Trade Attaché Washington D.C., Ranitya Kusumadewi, on June 23, 2024.
"Indonesia's participation in the SFFS 2024 exhibition must be maximally utilized to strengthen Indonesia's branding as a quality food and beverage producer, build business networks with key players in the US food and beverage industry, and promote Indonesian food and beverage products to increase exports to the US market and international markets that have great potential," Consul General Winanto was quoted as saying in a Ministry of Trade press release that InfoPublik received on Friday (12/7/2024).
Trade Attaché Washington D.C., Ranitya Kusumadewi said that the potential transaction of USD44.45 million at the SFFS 2024 exhibition shows the great potential of Indonesian food and beverage products in the US market.
"A number of visitors appreciated Indonesia's unique and high-quality products. The exhibitors managed to build good connections with various key players in the US F&B industry," Ranitya said.
The Indonesian Pavilion was located in the international pavilion area and featured products from large companies and small and medium enterprises (SMEs). The five major companies featured in the Indonesian Pavilion included Indofood (Indomie), Mayora (Kopiko, Danisa, and Coffee Joy), Java Criollo (Indonesian single origin cocoa powder), If Chocolat (Indonesian single origin chocolate), and Exotique Foods (fruit chips, smoothies powder, and tempeh chips).
In addition, seven MSME players assisted by Bank Indonesia participated, namely Panda Food (seaweed snacks), Alam Scientia Asia (black onion and moringa powder), Centerindo Kurnia Tritama (herbal drink wedang uwuh and herbal candy), Rafins (fish skin chips), Bana Bee (banana chips), Sehat Herbs (herbal drink powder), and Yo Randang (rendang seasoning).
"By being on one floor with innovative products, including the startup pavilion, we see that innovation from Indonesia is not only in the type of product, but also in terms of processing and packaging," Ranitya added.
Ranitya added that the US F&B market is very competitive. Therefore, Indonesian F&B products need to pay attention to developing trends and continue to innovate. In addition, it is important to meet the standards of safety, transparency, and traceability of products consumed by the US public.
"Trends in the US F&B industry observed during the exhibition include products that emphasize aspects of convenience, community, curiosity, and products with a premium touch; fusion cuisine that uses authentic ingredients and techniques; high-quality healthy food; and products with small portions/packages as the trend of snacking increases," said Ranitya.
In addition, with the rise of millennial and Gen Z consumers and the decline of Baby Boomers, F&B sales through e-commerce is the main driver of F&B sales in the US market.
The Head of Representative of Bank Indonesia in New York, Wahyu Agung Nugroho, assessed that Indonesia's participation in SFFS 2024 could provide wide exposure for Indonesian F&B products in the US market.
"The US market is the largest market in the world and the center of international F&B consumption trends and lifestyles. This exposure is needed so that Indonesian F&B products can be increasingly recognized in the US market," Wahyu said.
SFFS is organized by the Specialty Food Association (SCA) and is in its 68th year. The exhibition serves as a platform for key players in the F&B industry to meet, such as buyers, manufacturers, distributors, importers, the hospitality industry, retail chains, supermarkets, associations, as well as supporting industries such as the packaging industry, media, international organizations, and certification bodies. Each year, the exhibition is attended by 30,000 visitors and 9,000 potential buyers, both from the US and other countries.
The products displayed at the SFFS 2024 exhibition have gone through a curation process by taking into account a number of conditions, including high quality products, unique added value, export-ready, and in accordance with US market trends. Attractive product visuals, product information including traceability aspects, and social and environmental impacts are also highlighted to attract potential buyers.
Consumption and imports of food and beverage products in the US show an increasing trend. Based on data from the United States Department of Commerce, in 2023 the value of US food and beverage imports from the world reached USD146.62 billion, representing 14.8 percent of total US imports. Meanwhile, in 2022, the value of US food and beverage imports from the world was recorded at USD199.80 billion and in 2021 at USD174.14 billion.
In 2023, the value of Indonesia's food and beverage exports to the US reached USD3.90 billion or represented 14.53 percent of Indonesia's total national exports to the US. In 2022, the value of Indonesia's food and beverage exports to the US was recorded at USD5.12 billion and in 2021 at USD4.20 billion.