Asia Pacific

Sportswear experienced a double-digit current value decline in 2020 due to the pandemic. Consumers could not go out to enjoy sports or go to gatherings for yoga, for instance, due to home seclusion. However, in 2021 consumers were able to return to…

In 2023, sportswear continues to post healthy growth, boosted by the full lifting of the mask mandate and consumers’ increasing participation in sports and outdoor activities. Some players stated that their manufacturing facilities struggled to keep…

Breathable and dry-fit fabrics have considerably gained in popularity in the Philippines due to the practical benefits of using such fabrics in the country because of its climate and because of the active lifestyles of its population today. Humid…

Retail sales of womenswear in Indonesia registered slower growth in both volume and constant value terms in 2023, when compared to the previous two years. While consumers became increasingly keen to travel, socialise and spend more time outside the…

Womenswear is set to see retail volume and current value growth in Japan in 2023, continuing the trend from 2022. Sales in the category experienced a significant decline in 2020, followed by a year of stagnation in 2021, as COVID-19 prevailed in the…

Overall womenswear continues to post solid growth in 2023. However, both retail volume and current value growth rates are notably slower compared to the dynamic performance by womenswear in 2022. This is likely due to the fact that consumers’ pent-up…

Women in the Philippines are displaying a growing interest in expressing an authentic self and in accepting themselves, which is being expressed particularly through fashion. One notable reflection of this trend is a growing diversity in the…

Demand for apparel accessories has notably increased in 2023 after three years of tepid sales during the pandemic. Following the reopening of Hong Kong’s border, international tourists have gradually returned. As tourist consumption historically…

Retail sales of apparel accessories continued to see healthy growth in current value terms in 2023. With consumers returning to their physical offices, there was a return to more formal clothing styles, with ties and belts seeing a particularly…

Demand for apparel accessories has been adversely affected by elevated inflation and a gloomy economy in 2023, with sales declining in both value and volume terms. However, it is important to note that a major factor behind the decline in sales of…

Apparel and footwear in Hong Kong is showing significant signs of recovery in 2023, with double-digit retail volume and current value growth. The local government gradually relaxed the city’s social restrictions from the second half of 2022 to early…

Sales of apparel and footwear saw dynamic growth in 2022, with constant value sales fast approaching pre-pandemic levels. As the country emerged from the COVID-19 pandemic, consumers became increasingly keen to travel, socialise and spend more time…

Vietnam's GDP is predicted to grow by approximately 4.5% by the end of 2023 according to the country’s General Statistical Office, which is less than the 6.5% predicted at the start of the year. Due to the impact of price inflation, consumers are…

With the removal of lockdowns and the reopening of Hong Kong’s border, sales of childrenswear have notably rebounded in 2023. However, local demand for childrenswear remains tepid. The declining birth rate in Hong Kong was already placing pressure on…

Compared to other areas of apparel and footwear, childrenswear saw relatively modest growth in current value terms in 2023. Sales of childrenswear were comparatively unaffected by the pandemic, as despite the lockdown, parents still needed to…

During the height of the pandemic era (2020 and 2021), sales of childrenswear plummeted in value and volume terms as children were required to stay at home, by government diktat, and schools were closed. However, the end of the pandemic, alongside…

Footwear is enjoying strong growth in 2023, with both retail value and volume sales rising by double digits following declines the previous year. On the other hand, sports footwear has been a more robust performer since 2021. Driven by the rising…

Footwear registered a second year of double-digit growth in 2023, with sales exceeding pre-pandemic levels in current value terms. Sales of both men’s and women’s footwear were boosted by the return of consumers to their physical offices, at least on…

Sales of footwear plummeted in 2020 and 2021 in response to the pandemic as people spent significantly more time at home and as such had less incentive to invest in new footwear. Sales saw a healthy recovery in 2022 as COVID-19 restrictions were…

As social restrictions have been removed in Hong Kong and consumers are gradually returning to their pre-pandemic routines, there has been a notable surge in demand for hosiery. After a period of reduced social interactions and remote working,…

Demand for hosiery improved significantly in 2023, continuing the trend of the previous year. The return of consumers to their physical offices boosted demand for sheer hosiery, as did an increase in the number of social outings, as tights tend to be…

Inflation has impacted consumer spending in 2023 in various categories across apparel and footwear. However, the impact has been less pronounced in hosiery with the category seeing healthy growth in retail volume terms in 2023. This has been backed…

There has been a noticeable shift in terms of preference for denim clothing, including jeans, as consumers prioritise comfort. Skinny jeans have been a wardrobe stable in Hong Kong for many years. However, in 2023, there has been a noticeable decline…

Sales of jeans continued to see healthy growth in current value terms in 2023. Premium jeans remained the largest subcategory in terms of value, having continued to benefit from the presence of many established brands, including the iconic Levi’s…

Jeans, like other apparel and footwear categories, has been negatively affected by elevated inflation and slower economic growth in 2023. This is despite the temporary reduction in VAT from 10% to 8% that was implemented by the government in June…

Menswear is experiencing a strong rebound, recording high double-digit retail volume and current value growth in 2023, although overall demand remains significantly below pre-pandemic levels. With Hong Kong’s border reopening, tourists are gradually…

Menswear saw another year of healthy growth in current value terms in 2023, with sales exceeding pre-pandemic levels. The return of Malaysians to their physical offices supported demand in a number of product areas, with items such as men’s suits,…

Elevated inflation and other economic challenges have resulted in a large number of job losses in Vietnam which has had a negative effect on the recovery of menswear in 2023 in both value and volume terms. Although the government has introduced a…

Sportswear in Hong Kong continues to experience strong growth momentum in 2023, and is expected to maintain a solid sales performance over the forecast period. Domestic demand for sportswear remains high due to rising health and wellness awareness,…

A return to more active lifestyles fuelled growth in sportwear in 2023, with performance apparel and performance footwear, in particular, benefitting from the resumption of outdoor sporting activities. The reopening of the country’s borders to…

Sportswear continues to see double-digit growth in current value terms in 2023, although this is largely based on elevated inflation rather than a significant recovery in demand. The gloomy economy has negatively affected the recovery of sportwear in…

Womenswear is experiencing double-digit growth rate in 2023, following notable declines the previous year. Tourist consumption historically accounted for 20-30% of pre-pandemic sales in Hong Kong, and the return of tourists is set to become the main…

Sales of womenswear registered a second year of robust growth in 2023, with current value sales edging even closer to pre-pandemic levels. As the country emerged from the COVID-19 pandemic, Malaysian women became increasingly keen to socialise and…

Due to elevated inflation and a dismal economic outlook, people have been looking to save money and have been more cautious when it comes to spending on womenswear in 2023. Although the Vietnamese government temporarily reduced the VAT rate from 10%…

Demand for apparel accessories saw strong growth in the past few years. In 2020, this was mainly driven by other apparel accessories. This category includes products such as face masks, which were largely in demand due to government regulations and…

Most categories within apparel accessories are reporting double-digit growth in current value terms in 2023, with the one exception being “other” apparel accessories. This growth has been supported by the ongoing recovery in domestic and…

2023 has seen life return to normal in Singapore, with consumers resuming all their pre-pandemic activities. The return to normalcy is set to help drive retail volume and current value sales of apparel and footwear in this year, with consumers…

Apparel and footwear in Thailand continues on the path to recovery in 2023, albeit sales have not yet returned to pre-pandemic levels in current value terms. Even though the country continues to record COVID-19 cases, Thai consumers have learnt to…

Baked goods is set to return to growth in retail volume and current value terms in 2023. In this year, leavened bread, which is the main category within bread, is set to see mid-single-digit retail current value growth in China, mainly driven by the…

Baked goods in Japan is set to continue to see growth in retail current value terms in 2023, largely driven by unit price increases. Although many manufacturers had already implemented price increases several times in 2022, the costs of production…

Heightened consumer interest in health continues to be a prominent trend following the pandemic in South Korea. It has played a pivotal role in shaping the current baking trend of reducing sugar and oil content, while emphasising natural fermentation…

Despite continuing inflationary pressures, baked goods saw a solid performance in volume terms in 2023. This was led, to a large extent, by foodservice, which saw double-digit growth for the second consecutive year in 2023, thanks to a return to…

Volume sales of baked goods saw positive growth for the second year in 2023, supported to a large extent by the continued recovery of foodservice. With the easing of pandemic restrictions, including a return to office-based working patterns,…

In 2023, retail current value sales of breakfast cereals are expected to return to growth after decline in 2022. However, value growth is set to be negligible, and retail volume sales are set to see a slight decline, partly due to the return to…

Breakfast cereals in Japan is set to suffer a significant retail volume decline in 2023, due to the normalisation of sales from the strong growth seen during COVID-19 in 2020. Breakfast cereals, which had been suffering from a declining trend from…

While retail volume sales of both children's breakfast cereals and family breakfast cereals continue to decline in 2023 due to greater mobility following the easing of restrictions in South Korea, demand remains above pre-pandemic levels. Players in…

The increasingly hectic lifestyles of consumers propelled the expansion of breakfast cereals in retail volume terms in 2023. Due to their ease of preparation, such products emerged as a convenient morning meal option for many consumers, although the…

Demand for breakfast cereals remained very limited in Vietnam in 2023, due to the overwhelming importance of traditional specialities such as xoi (sticky rice), pho (a broth containing rice noodles, meat and herbs), bun bo (a spicy broth associated…

Charge card transactions have demonstrated a consistent upward trajectory in terms of transaction volume and retail value in 2023, coinciding with the resurgence of travel activities in Southeast Asia as pandemic-related restrictions have been…

Despite Singapore experiencing a declining birth rate, with a record decline seen in 2022, childrenswear is set to maintain growth in both retail volume and current value terms in 2023. These increases can primarily be attributed to the lifting of…