In-Depth Analysis of the COVID-19 Impact on Indonesia Dairy Food Market Product Segments: Ken Research

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The COVID-19 outbreak has been declared a pandemic by the WHO, causing a huge impact on people’s lives, families, communities, and businesses. Within Indonesia, the economic impact is apparent through the fall of the Indonesian stock exchange and Rupiah. Meanwhile, the government has followed certain countermeasures that were previously implemented by other affected countries; it has caused numerous businesses to turn to online-based platforms to currently survive.

Businesses will face a long road to recovery after being constantly hungry for profits for an unknown period of time. The infection has spared only a few businesses, mostly offering healthcare products-services, while many other businesses, for instance, travel and tourism, hospitality, and food & beverage industries experienced major disruptions. Supply chains are in turmoil and many offline businesses (no matter how big in size) is further getting closed. Many Indonesians (particularly in the informal sector) survive on limited wages of USD 100-200 per month. The country is competing in a public health war against COVID-19 alongside facing recession due to limited financial resources.

The COVID-19 pandemic has also brought everyday human activity to a grinding halt, with economies across the world taking a hit, Indonesia is no exception. Multiple sectors felt the blow in the form of interferences in the cash flow & business operations as the outbreak caused forcing employees to work from home, while others contribute to unemployment levels in the country. Apart from that, startup investments in China and other Asian countries broadly faced a decline since the onset of the COVID-19 crisis. The potential growth trajectories of start-ups and small businesses are already hurting because of forced closure and falling sales/demand.

Most businesses are focusing on survival as the markets have become highly uncertain and are socially distant. With the increasing restrictions, consumers continue to stock up on essentials thus, making grocers, delivery services, and E-commerce companies adopt a rapid pace to meet consumer demand. Amongst Southeast Asia, Indonesia is one of the leading countries with 175.4 million internet users (64.0% penetration) and 338.2 million mobile phone connections, therefore, highlighting the growing digital base which has enforced more significance & greater participation of E-commerce activities in the retail and food & beverages segment.

Impact on Dairy Food Business:

COVID-19 pandemic has been changing the behavior of Indonesian consumers in terms of spending and lifestyle choices to distribution/shopping channels used and media consumed. However, it could benefit the dairy industry as consumers could shift from meat-based to dairy-based protein amid supply chain disruptions. During initial phases of the restrictions imposed by the Indonesian government, both milk procurement as well as sales of milk was collectively impacted in several cities of the country. The decline in liquid milk sales further caused interruptions in the manufacturing of dairy by-products such as condensed milk, cream, butter, cheese, and others. Trade halts from neighboring countries such as China, Vietnam, Singapore, and others also created roadblocks in the supply of milk raw materials and finished goods.

In order to tackle the situation, dairy food manufacturers firstly initiated home delivery of milk and milk-based products via mobile carts, vans and E-commerce. Government of Indonesia, as well as the dairy cooperative, is working on providing subsidies to dairy farmers alongside emphasizing on regular feeding and health care of dairy-based cattle to have no impact on reproductive efficiency and productivity.

Impact on Retail and F&B Segment:

In accordance with the data from PT Moka Teknologi Indonesia, i.e. a local startup that provides digital cashier services to more than 30,000 merchants in Indonesia, multiple industries had experienced losses due to the pandemic, including the service and retail industry, with F&B segment had seen the largest impact. Surabaya in East Java and Bali saw the leading decline that was approximately 26.0% and 18.0% fall in daily earnings respectively. As a result of which, major restaurant chains in Indonesia have chosen to temporarily shut down operations including the Ismaya Group - 20 restaurant brands with more than 60 outlets and the Boga Group – 150 restaurants in the country.

Top cities that were majorly affected in the retail sector constitute of West Jakarta, South Tangerang, Depok, Central Jakarta and Bandung regions, with biggest daily earnings decline recorded in West Jakarta i.e. close to a 32% fall in daily earnings per outlet. The total number of visitors to shopping malls drastically decreased, causing several malls to also temporarily shut their doors but still opening to access to tenants serving basic needs, such as supermarkets and pharmacies. In accordance with the Indonesian Shopping Center Tenant Association, the number of mall visitors dropped by 50% in the month of March following the announcement of positive COVID-19 cases. The particular the number is further expected to go down in Indonesia as the government urged people to stay as well as work from home.

Efficient Strategies Adopted by the Market Players:

Local companies are increasingly adopting spraying of disinfectants in order to stop the entry of coronavirus from any external medium. Apart from that, safety standards are being laid into place for factory workers and other employees for the prevention of COVID-19. Alongside the termination of consumption outside home, the global crisis also caused an increase in sales of foods at home which greatly affected the impulse ice cream business of major international players such as Unilever. Apart from product innovation, local manufacturers will continue to generate sales by expanding product distribution to multiple regions that have relatively showcased limited sales in past few years. They would continue to launch a variety of new product variants that would also sit well with the affordable price needs of price-sensitive Indonesian consumers.

Aice Group Holdings seems to be positive in expanding by setting up the 3rd factory in Sumatra region amid pandemic effects. In addition, they will launch approximately five new products that will be adjusted to current market needs.

Increased consumption of dairy products i.e. either fermented by lactic acid bacteria or fortified with prebiotics/probiotics was also encouraged in the interest of improving gut health among Indonesians. However, procurement and supply issues persist. The coronavirus pandemic represents a further challenge to the country’s coffee-producing sector which was already suffering a prolonged period of inefficient production as well as low prices. As a result, a negative impact was seen towards the demand for cream and NDCs (coffee whiteners) in Indonesia.

Domestic demand for cheese has not always been fully met in Indonesia by the local companies. As a result, numerous international players such as Kraft Foods entered the market. Kraft Heinz factories were observed to work a total of 3 shifts a day in order to meet the increased demand for its products as stockpiling for a pandemic has left many grocery stores shelves empty. The sales for 2020 would clearly record a dip due to the low production and availability of cheese and cheese related products in the market.

Panic buying has left grocers with empty trolleys therefore, increasing a burden for the yogurt producer to fill the supply-demand gap during COVID-19. During the pandemic situation, people are expected to carry out clean as well as healthy behavior by keeping the body stamina strong. Various methods are being used in order to maintain strong stamina including increasing consumption of diverse & nutritious foods such as yogurt and sour milk.

 Domestic demand, as well as B2B demands for margarine, is largely affected due to the global lockdown situation causing a decline in terms of production capacity. As a result, Fonterra was observed to establish a partnership with Lazada Indonesia to bring changes in the retail concept and digitalizing sales while Upfield plans to further launch a new product “New Flora Plant”. The impact of coronavirus has still been haunting the domestic industry that was specifically indulged in the online buying & selling process for imported goods in Indonesia. Major focus is also being given on marketing the products in a safe & sanitized manner across Indonesia to regain the confidence of the consumers.

Shifts in the Industry Practices:

Businesses in Indonesia is bracing for a longer recovery period of around 5 months as revenues are reportedly being down since the start of the pandemic’s impact on the market. Hiring, BTL campaigns, and research budgets have taken substantial cuts while there has been a shift in focus to E-commerce selling and an increase in digital media budgets. The digital wave is supposed to have a cascading effect on the offline business of the suppliers & many of them will now focus on leading a digital life with ease of services & enhanced product portfolios and will realize the importance of digital presence and tools in expanding their market reach and revenue.

Coronavirus is expected to change the way we people shop, travel and work over the long term thus, ushering a new era where work from is an increasing part of people’s regular schedule. On the supply side, international manufacturers are being forced to reevaluate where to produce and sell goods, caused by an accelerating shift after the US-China trade war increasing import dependency for dairy raw material.

Key Segments Covered: -

Product Type

Drinking Milk Product

Flavoured Milk Drinks

Dairy only Flavored Milk Drinks

Flavored Milk Drinks with Fruit Juices

Powdered Milk

UHT/Fresh/Liquid Milk

Shelf Stable Milk

Full Fat Shelf Stable Milk

Semi Skimmed Shelf Stable Milk

Fresh Milk

Full Fat Fresh Milk

Fat Free Fresh Milk

Semi Skimmed Fresh Milk

Milk Alternatives

Soy Drinks

Other Milk Alternatives (Almond Milk, Cashew Milk and Rest)

Condensed Milk Products

Plain Condensed Milk

Flavoured Condensed Milk

Yoghurt and Sour Milk Products

Yoghurt

Drinking Yoghurt

Plain Yoghurt

Flavoured Yoghurt

Sour Milk

Ice Cream and Frozen Desserts

Impulse Ice Cream by Type

Single Portion Dairy Ice-Cream

Single Portion Water Ice-Cream

Impulse Ice Cream by Format

Sticks

Cones

Others (Single Serving Cups, Family Pack Tubs, Ice-Cream Cakes and Rest)

Take Home Ice Cream

Bulk Dairy Ice Cream

Multi-Pack Dairy Ice Cream

Take-Home Water Ice Cream

Cheese

Processed Cheese

Spreadable Processed Cheese

Reconstituted Cheese

Cream Cheese

Other Processed Cheese

Unprocessed / Packaged Hard Cheese

Cheddar Cheese

Others (Mozzarella, Provolone, Parmesan, Emmental, Romano, Ricotta and Rest)

Cream

Fresh Whipped Cream

Fresh Half/ Single Cream

Long Life/ UHT Whipped Cream

Butter and Spreads

Butter

Margarine and Spreads

Coffee Whiteners

Product Form

Concentrated/ Thick liquid nondairy creamer

Powdered nondairy creamer

Liquid non-dairy creamer

Fat Type

Medium Fat

Low / No Fat

High Fat

Application

Coffee

Tea

Baking Items

Other Applications (Drinks, Candy and Remaining Concentrated Beverages)

Distribution Channel

Hypermarkets

Supermarkets

Independent Small Grocers

Convenience stores

Other grocery retailers

Non store retailing

Health and beauty specialist retailers

Key Target Audience

Dairy food manufacturers

Milk Processors

Dairy Association

Milk Importers, Distributors and Manufacturers

Condensed Milk Manufacturers and Distributors

Ice-Cream Manufacturers

Frozen Dessert Manufacturers

Yoghurt Manufacturers

Sour Milk Manufacturers

Butter and Spreads Manufacturers

Cheese Manufacturers and Distributors

Dairy Cream Manufacturers

Coffee Whiteners Producers

Time Period Captured in the Report:

Historical Period: 2013-2019P

Forecast Period: 2019P–2025F

Companies Covered:

Drinking Milk Products –

Nestlé SA

Royal FrieslandCampina NV

Ultrajaya Milk Industry & Trading Co Tbk PT

Indofood Sukses Makmur Tbk PT

Greenfields Indonesia PT

Diamond Cold Storage PT

Cisarua Mountain Dairy PT

Fonterra Cooperative Group Ltd

Condensed Milk Products –

Royal FrieslandCampina NV - Frisian Flag Indonesia PT

Indofood Sukses Makmur Tbk PT

Indofood Sukses Makmur Tbk PT

Yoghurt and Sour Milk Products –

Yakult Honsha Co Ltd

Cisarua Mountain Dairy PT

Asahi Group Holdings Ltd

Royal FrieslandCampina NV

Salim Group

Yummy Food Utama PT

Diamond Cold Storage PT

Heavenly Nutrition Indonesia PT

Ice-Cream and Frozen Desserts –

Unilever Group

Campina Ice Cream Industry PT

Alpen Food Industry PT

Diamond Cold Storage PT

Indofood Sukses Makmur Tbk PT

Cheese –

Kraft Heinz Co

Mulia Boga Raya PT

Rokko Butter Co Ltd

Megsnow Milk Brand Co Ltd

Mondelez International Inc

Bel, Groupe

Cream –

Sukanda Djaya - Roselle Whipped Cream

Fonterra Brands Indonesia PT - UHT Anchor

Greenfields Indonesia PT - Whipping Cream

Haan Indonesia - Wippy Cream

Savencia Fromage & Dairy - Elle and Vire - Crème Liquid - Whipping Cream

Pondan Food Creations - Whip Cream

BrookFarm - Whipping Cream

ConAgra Brands - Reddi Wip

Kraft Foods - Cool Whip

Organic Valley - Heavy Whipping Cream

Butter and Spreads –

Upfield Holdings BV / Unilever Group

Indofood Sukses Makmur Tbk PT

Fonterra Cooperative Group Ltd

Golden Agri-Resources Ltd

Wysman & Zonen BV, HJ

Coffee Whiteners –

Sari Incofood Corp PT - Max Creamer

Nestle Indonesia - Coffee Mate

Santos Premium Krimer / Kapal Api - Fire Boat Kream Café

PT Lautan Natural Krimerindo - Fiber Crème

Key Topics Covered in the Report: -

Indonesia Frozen Desserts Market Share

Indonesia Cream Market Share

Coffee Whitener Producers in Indonesia

Cheese Manufacturers and Distributors

Dairy Food Hypermarket Indonesia

Indonesia Health and beauty specialist retailers

Indonesia Convenience stores Market

Scope in the Dairy Food Market Indonesia

Indonesia Dairy Food Market Sales Value

Cross Comparison of Dairy Products in Indonesia

Popular Dairy Product Brands Indonesia

Major Dairy Product Categories Indonesia

Popular Take-Away Ice-Cream Market Indonesia

Brand Share in Condensed Milk Market

Major Distribution Centers in Indonesia

Grocery Retailers in Indonesia

Drink Milk Product Sales Indonesia

Indonesia Milk Consumption per Capita

For More Information on the research report, refer to below link: -

Indonesia Dairy Food Industry Growth

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Prevailing And Emerging Trends In Payment Market Outlook: Ken Research

The market payments have significantly increased more progressively on the surging trends in the worldwide scenario during the recent years. In the recent trend, the populace of the increasing admittance of the digital marketing by the young populace and the augmenting acceptance of the cashless payment modes such as debit and credit cards are few other aspects which influence the market growth of the digital money transfer around the world.

The speedily augmenting the digital payments industry size across the Asia has scaled up hurriedly over the last few years which has led to an augment in credit card utilization. The augment of inexpensive smartphones and succeeding internet and mobile penetration has led to momentous growth in the digital payments space. The individuals in these mature markets are cognizant of digital payments and have increasingly incorporated non-cash methods over the years. Competition within the Asia credit card market was observed as concentrated, showcasing the late growth stage. The competitive growth in the credit card industry of Asia was propelled by the deep client partnerships, durable cross-border growth, noteworthy long-term growth opportunities, and personalized strategies. The foremost operatives in the Asian credit card industry were UnionPay International Co. Ltd., Visa Inc., MasterCard International Inc., JCB Card Co., and Shinhan Financial Group Co. Ltd. in terms of entire cards in circulation and total transaction value throughout the year 2018. Industrial and Commercial Bank of China Ltd conquered in terms of total cards in circulation during the recent past years. It was followed by China Merchants Bank Co Ltd, China Construction Bank Corp and Bank of China Ltd.

The market premeditated is predicted to embellish more significantly, due to the vigorous propagation of the internet. The internet dissemination rate has been recording a strong growth over the past few years, and is anticipated to endure criss crossing the similar trajectory, owing to the growing investments by the internet service providers. Safety is of the dominant prominence in the digital payments. Along an assembly of digital transactions taking place with the help of smartphones, the probabilities of a safety breach exist, exclusively when the most of the mobile wallets and banking presentations do not consolidate the hardware-level security, to generate the online transactions more protected.

The Contactless payment is an alternate payment channel. It utilizes the short-range wireless technologies, namely radio frequency identification (RFID) or near field communication (NFC), to strongly complete payments amongst the contactless card and contactless-empowered PoS terminal. The aspects that propels the usage of the contactless payment involve, but are not restricted to, superfluity of use, speed, and incorporated and seamless appreciative. For instance, it is predicted that the contactless transactions take adjacent to 1/10th of the time taken by the traditional electronic transactions.

The mobile contactless user base amplified more expressively throughout the current past years. Thus, with the growing reception of the mobile and digital payments, contactless payments are predicted to record the growth more significantly. Not only has this, the implementation of the contactless cards is predicted to transmute the landscape of traditional payments, as these cards act as momentous threats to EMV cards and the compelling stripe technology.

Additionally, the E-commerce sales across the region are also significantly augmenting, with the advancement of the digital payment experience. This increment also reflects the consumers’ growing comfort with the online shopping, coupled with their growing the usage of mobile and hand-held devices.

However, the foremost advantages of the digital money transfer are that it often mechanisms 24/7 hours, so it has the unrehearsed user interface. Therefore, in the near future, it is estimated that the Payments Market will augment across the world more immensely over the recent few years.

For More Information on the research report, refer to below link:-

Global Payments Market Size

Related Report:-

Global Cards and Payments Market Analysis 2013-2018 and Forecast 2019-2024

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

India Online B2B Platform Industry Outlook to 2025: Ken Research

Analysts at Ken Research in their latest publication "India Online B2B Platform Industry Outlook to 2025: Driven by Intuitive Vendor Discovery & Increasing Digitalization in Retail Sector of India" observed that the fast-growing Indian retail industry needs to focus on key areas such as logistic infrastructure, market forces of demand & supply, quality checking procedures, SaaS adoption along with innovative ways to enable better vendor discovery  with a view to promote the growth of the sector in a more structured & organized way. The report further talks about the online B2B industry segmentation & the eco-system, detailed profiles of various players in the market along with their service portfolio. It provides an operational analysis of the different business models in the industry & an operational view of the traditional & modern value chain of the retail space in India. Government focus to promote FDI & acquire investments have been thoroughly discussed along with digital penetration & case studies, success stories of various online B2B platforms and the future way forward & analyst recommendation for establishing an online B2B platform in India.

Industry Overview

There are ~25 B2B platforms catering only to the manufacturing MSME’s across India. The industry is at a nascent stage and holds high potential for growth in the future. The highest user penetration is of online listing platforms as many of MSME’s use this service to generate business leads. SaaS has not been able to gain much traction & is very rarely used as of now. Digitization in the supply chain ecosystem, especially with regard to traders, wholesalers, dealers, retailers and consumers using apps and other platform-driven methods hold the key to stickiness and growth in the space. Other major drivers propelling the B2B e-commerce in India would be increased usage of Mobile platforms which are providing app-based solutions for customers problems, development of Artificial Intelligence and Machine learning algorithms to identify buyer’s behavior and segmentation of categories and social media marketing and analytics which will drive traffic and increase user penetration in the market.

Industry Segmentation

The report explores the industry segmentation of online B2B platform players on the basis of demand arising from different regions (Tier-1, Tier-2 and Tier-3 Cities) & basis the nature of platforms (Listing platform and marketplace platform). It further discusses the revenue share of each segment, the major players of those segments & the growth facilitators of the future. The competition is not very high in the industry as there is a lack of vertical platform players in the market, but it is expected with emergence of new players in future, the industry competition would become fierce. In online listing segment, the players compete on the basis of listing charges & subscription rates. IndiaMART is the biggest player in term of users & suppliers and controls a significant share in the online listing platform market. On the other hand, highly invested platforms are focusing on providing business enablement services from SaaS services to logistics services to lending facilities and are focusing on building technology focused services to boost operational efficiency and achieve top line & bottom line benefits. Udaan, Bizongo, Beldara are few examples of such platforms who are offering business enablement services to MSME‘s in India.

Bottlenecks Faced in the Industry

Bad quality of leads along with low conversion rates, high commission charges leading to loss of margins, lack of end to end solutions, lack of quality checking procedures on platforms leading to loss of repetitive business & stringent payment terms and often there is a lack of good credit facilities in the industry, all above factors are considered as major bottlenecks in the industry by online B2B platform players as well as by MSME manufacturers. To overcome such bottlenecks, government is facilitating growth of digital literacy in rural & backward areas to literate the MSMEs of those regions in terms of use of technology and its benefits. Many online B2B platform players are also putting in more money & efforts to get the MSME on-boarded by teaching them about the various services and by providing customizable solution for their businesses to increase revenue and reduce cost.

Future Strategies-The Way Forward

Special focus on vertical marketplace platforms needs to be given in order to acquire expertise. Competition from foreign players with better technological solutions and investment capability could be seen in the industry in the years to come. Development of new categories of retail & wholesale would be leading the innovation scenario, while cost optimization across various service streams will become important along with harnessing Artificial Intelligence, Data Analytics as well as Deep Learning Algorithms to facilitate and identify demand and trend analysis in advance for exploiting future growth opportunity. In future, India online B2B platform industry is expected to grow at a CAGR of ~20.0% during the period FY’2019-FY’2025.

Key Segments Covered:-

By Final Consumption Expenditure in India

Retail Spending on Goods

Other Expenditure (Travel, Real Estate, Auto & More)

By Retail Industry

B2B Retail

B2C Retail

By B2B Retail Industry Entities

Un-Organized B2B Stores

Brand/Distributor Led Stores

Cash & Carry Stores

E-B2B Platforms

By Online B2B Retail Industry Segments

FMCG & Grocery

Consumer Durables & Electronics

Beauty & Personal Care

Fashion & Accessories

Others

By Online B2B Platform

Region of Demand (Tier-1, Tier-2 and Tier-3 Cities)

Nature of Platforms (Listing Platforms and Marketplace Platforms)

Key Target Audience:-

OEM Manufacturers

Online B2B Platforms

3PL Firms

FMCG Industry

E-Commerce Companies

Lending Firms/Companies

Industry Associations

Government Associations

Private Equity and Venture Capitalist Firms

Time Period Captured in the Report:-

Historical Period: FY’2014-FY’2019

Forecast Period: FY’2019-FY’2025

Companies Mentioned:-

Online B2B Platform Competitive Ecosystem

IndiaMart

Trade India

Bizongo

Udaan

Industry Buying

Moglix

Power 2 SME

Shop X

Ninjacart

Jumbotail

Alibaba

Other Players include Tradeford, Wydr, Amazon Business etc.

Key Topics Covered in the Report:-

Present Day Pain Points of MSMEs in B2B Retail Industry of India

Market Sizing Analysis of B2B Retail in India

Market Sizing Analysis of Online B2B Retail in India

Industry Segmentation of Online B2B Retail in India

Ecosystem of E- B2B Platforms in India

Service Portfolio of Indian Online B2B Platforms

Online B2B Marketplace Business Models

Traditional Retail Value Chain & Pain Points Analysis

New Retail Value Chain of Online B2B Players

Digital Penetration of Indian MSMEs in various Online Services/Platforms

Margin Impact of online B2B platform Players on MSME’s Revenue

Major Challenges Faced in Digital Adoption by MSMEs & the Way Forward

Vendor Choosing Criteria for Online B2B Platform Industry

Government Initiatives for Online B2B Platform Development

Case Studies on Online B2B Platforms including Operating Outlook, Financial Analysis and Business

Model, Services, and Investment Analysis & Shareholding Pattern

Feasibility Report on an Online B2B Platform in India

For More Information on the research report, refer to below link:-

India Online B2B Platform Market

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Taiwan E-Commerce Market Outlook To 2023 - Online Retail (By Product Categories, By Desktop And Mobile, By Gender); Online Travel (By Intermediary And Direct Online Sale And By Desktop And Mobile); Online Payment Gateway Market

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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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+91-9015378249