Business Opportunities in Food for Aspiring Entrepreneurs This 2023
Want to start a food business this year? Here are some opportunities you might want to explore based on 2022 trends in the food service and food delivery industry.
With the market expected to grow by 7.89% annually over the period of 2022 to 2027, the food industry is definitely booming!
In fact, as of 2021, accommodation and food service activities account for 14.10% of the total number of micro, small, and medium enterprises (MSMEs) in the country. What's more, it’s the second largest industry sector when it comes to MSMEs—as it accounted for 99.58% of the 1,080,810 business enterprises operating in the country in 2021 alone!
Given these numbers, aspiring entrepreneurs, franchisers, and business owners such as yourself may want to consider possible business opportunities in food. But it all starts with knowing what will sell.
To help you out, we put together some ideas for business opportunities in food based on trends—not just in the food service industry, but in the food delivery industry, too!
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