Sweet Success
Forbes Indonesia|December 2021
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Ulisari Eslita
Sweet Success

The global confectionery sector is expected to grow from $341.61 billion in 2020 to $360.11 billion in 2021, a CAGR of 5.4%, according to the Sugar and Confectionery Products Global Market Report 2021 published by The Business Research Company. As was the trend last year, Asia Pacific is expected to be the primary driver for demand in this sector, accounting for 48% of the global confectionery market, followed by Western Europe at around 18%.

United Family Food, or Unifam, is one of the key players driving the confectionery industry's growth in Indonesia and throughout the region. While many businesses have been impacted by the pandemic, Unifam has outperformed the FMCG industry, which grew by only 1.5% last year.

COVID-19 has changed our business. We have experienced the greatest growth during this pandemic. We have grown by 21% year-to-date and expect to grow by 27% next year, says Steven Erwin, CEO of Unifam, one of the largest confectioneries, food, and beverage companies in the country. Although Steven declined to disclose sales figures, he stated that the company aims to generate at least Rp3 trillion in revenue next year.

The COVID-19 pandemic has created difficulties for confectionery producers, as students, who are the largest consumers of confectionery products, have been unable to attend school since the pandemic began early last year. Without a doubt, the circumstances presented attractive opportunities for those players, like Unifam, who could gain and leverage a better understanding of consumer behavior changes and therefore become more agile and flexible in their marketing strategies.

This story is from the December 2021 edition of Forbes Indonesia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the December 2021 edition of Forbes Indonesia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM FORBES INDONESIAView All
BACK ON TRACK
Forbes Indonesia

BACK ON TRACK

Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.

time-read
10+ mins  |
December 2021
Championing Locals
Forbes Indonesia

Championing Locals

The wave of social commerce is enabling inclusive digital economies beyond urban areas.

time-read
6 mins  |
December 2021
Boys in the Bubble
Forbes Indonesia

Boys in the Bubble

Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.

time-read
6 mins  |
December 2021
Enduring Relations
Forbes Indonesia

Enduring Relations

The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.

time-read
6 mins  |
December 2021
Sweet Success
Forbes Indonesia

Sweet Success

Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.

time-read
5 mins  |
December 2021
Marathon Man
Forbes Indonesia

Marathon Man

Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.

time-read
5 mins  |
December 2021
Gold Rallies on Inflation Fears
Forbes Indonesia

Gold Rallies on Inflation Fears

During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.

time-read
2 mins  |
December 2021
Set Off to A New Start
Forbes Indonesia

Set Off to A New Start

Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.

time-read
5 mins  |
December 2021
The Daily Intake
Forbes Indonesia

The Daily Intake

YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.

time-read
4 mins  |
December 2021
THE CROESUS OF CRYPTO
Forbes Indonesia

THE CROESUS OF CRYPTO

FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.

time-read
10+ mins  |
November 2021