F&B sales up 21.8% YoY in January

The Chinese New Year celebration partly contributed to the increase in sales.

The sales in Singapore’s food and beverage (F&B) services sector rose 21.8% year-on-year (YoY) to around $1b in January 2023, partly due to the celebration of the Chinese New Year by the end of the month.

Data from the Department of Statistics Singapore showed that of the total sales, online F&B services accounted for 23.3%, slightly lower than the 23.4% in December 2022.

All F&B services industries sector posted growths led by food caterers with 110.2% growth due to the demand for both event and in-flight catering with the easing of restrictions on large-scale events, international travel, and social gatherings.

Sales in restaurants were up by 21.7% YoY, followed by fast food outlets at 18.7%, and cafes, food courts & other eating places (11.5%).

On a seasonally adjusted basis, the department said the sales rose 2% compared to the previous month. 

Restaurants (6.5%), cafes, food courts & other eating places (0.6%), and fast food outlets (0.4%), posted month-on-month increases on a seasonally adjusted basis, whilst the food caterers sector dipped 7.7%.