Two companies in Singapore have collaborated to offer local F&B businesses "plug & play" options to help expand and digitise their operation. TiffinLabs, which operate 15 digital restaurant brands, is working with Nestlé Professionals Singapore to provide the plug & play restaurant brand options for F&B operators. The offering aims to provide more choices for restaurants' dine-in guests and online delivery consumers on top of their existing brands. TiffinLabs explained this strategy would enable F&B operators to become a cloud kitchen themselves and tap into the burgeoning delivery market to earn at least 10% incremental revenues and over 25% total profits.Meanwhile, Nestlé is offering its new plant-based and meat-free products from its Harvest Gourmet range. These plant-based products are already part of the menu in TiffinLabs' digital restaurant brands.
According to data from Momentum Asia, Singapore's food delivery market charted US$2.4 billion in gross merchandise value in 2020, and the global cloud kitchen industry will reach $1 trillion by 2030. Plant-based food consumption is also rising, and data from Euromonitor said growth accelerated during the onset of the COVID-19 pandemic. Conscious consumption in Singapore also doubled in 2020, and demand for plant-based alternatives is growing, as revealed by research firm Abillion and Enterprise Singapore. (Compiled by Kristy Tan; Image from Unsplash)
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