Indonesia is on the road to becoming a global economic powerhouse, with 2045 the year this is predicted to come to fruition. Looking forward to a robust performance in 2024, the government expects about 5.2% economic growth rate in the coming years. The encouraging outlook is buoyed by progress in key non-oil and gas manufacturing industries, the largest of which is food & beverage. The F&B sector which accounts for the greater share of the CPG industry, accounted for 6.47% (USD20.78 billion) of GDP in the first quarter of 2023, the highest contributor based on recent reports from BPS Statistics. The government’s reforms to move the CPG industry forward have attracted local and foreign manufacturers to expand and set up their production hubs in Indonesia. More local brands are gaining market share across the region. But as any company knows, challenges remain in sight. To gain new perspective on this ever-growing industry, Ringier and Siemens recently collaborated on a
AS CONSUMER demands continue to rapidly evolve, China's food and beverage industry is experiencing unprecedented transformation. Innovations in healthy product formulations, eco-friendly packaging, rigorous safety testing and intelligent manufacturing processes are changing the industry landscape. This is apparent in the selection for the 2024 Food and Beverage Industry - Ringier Technology Innovation Awards. The awards program which marks its 18 th year, recognizes companies and their products that have made outstanding contributions to F&B and technologies, and encourages more companies to invest in technological innovation. This year, 82 products/technologies from 60 companies entered the final judging and votation for the following categories: Innovative Product of the Year (End Product) Food and Beverage Ingredients Food and Beverage Packaging Technology Food and Beverage Processing and Automation/Intelligent Manufacturing The judging criteria were based on four aspec