Food Business Index 2024 Results

Overview

Ministry of Economy, Trade and Industry's latest statistics reveal that the 2024 Food Business Index (FBI) recorded an index value of 96.3, up 0.3% year-on-year, marking three consecutive years of increase. The FBI is an economic indicator that measures the activity level of the entire food and beverage-related industry by capturing food manufacturing, food distribution, and restaurant/food service industries through real indices excluding price change effects and calculating their weighted average. The 2024 increase was primarily driven by strong performance in "restaurants and food services," indicating continued recovery from COVID-19 impacts. The previous year 2023 also saw two consecutive years of increase due to rising "restaurants and food services," confirming steady progress in food-related industry recovery. While the first half of 2024 showed modest increases and decreases suggesting a pause in recovery, the full year maintained solid performance. The FBI serves as an important indicator for comprehensively understanding trends in food and beverage-related industries closely tied to daily life, regularly analyzed and published by METI's Economic Analysis Office. The Ministry of Economy, Trade and Industry plans to continue monitoring food-related industry trends and supporting sustainable industry development.