Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
The reduced-salt trend, as backed by the government, is influencing patterns in sauces, dips, and condiments. According to reports from the Ministry of Health, Vietnamese consumers are cited to eat an average of 9.4g per day of salt, compared to the…
Store cards are often referred to as “Gaisho cards” in Japan. Gaisho is a department most often found in department stores, positioned somewhat like direct selling. Gaisho are elite staff members with high levels of skill and experience, and these…
In 2022, due to the COVID-19 pandemic and the corresponding lockdown measures, which affected consumers’ in-store shopping, and led to disruptions in product transportation for e-commerce platforms, sweet spreads experienced retail volume and current…
Alongside the home café trend, a notable shift has occurred in bakery products, transcending the long-held bias that bread cannot serve as a meal replacement - often referred to as the “breadcrumbs prejudice”. This shift emphasises the savoury,…
Sweet spreads is benefitting from consumers’ return to out-of-home lifestyles, notably with children back to school and employees back to work. In this sense, chocolate spreads and nut and seed based spreads are seeing healthy volume and value…
Healthy eating trends are influencing sweet sauces, such as seen with the rising popularity of nut and seed based spreads, as evidenced by the subcategory showing the most robust value growth and with volume also on an upwards trajectory. A further…
Charge cards continue to struggle to appeal widely, and consumer demand is set to remain relatively low at the end of the review period. This situation is confirmed by the limited supply of charge cards from banking institutions in Malaysia. Indeed,…
During the COVID-19 pandemic, the charge card category declined significantly due to restrictions on all activities such as traveling, dining and entertainment, which impacted normal patterns of expenditure. In the post-pandemic era, consumers have…
Cooking ingredients and meals is witnessing greater stability in 2023 following the price shocks of 2022, which created much upheaval for the category. There was a significant increase in prices across the cooking ingredients and meals category in…
In 2023, a surge in living costs has driven price increases of 20-60% in cooking ingredients. As a result, demand has declined, especially among lower-middle-income consumers. To combat this, manufacturers have been focusing on smaller packs. On a…
The cooking ingredients and meals market in Kazakhstan has almost fully recovered from the negative impact of the COVID-19 pandemic. In 2023, inflation in the country slowed and prices declined in a number of categories compared to 2022, including…
Consumers continued to dine out more often in the aftermath of the COVID-19 crisis in 2023 as the return to busy lifestyles left them with limited time to cook from scratch at home and drove down in-home consumption. However, consumers continued to…
The cooking ingredients and meals industry in Pakistan is navigating a challenging landscape shaped by inflationary pressures. As inflation rises, consumers are becoming increasingly price-sensitive, prompting a shift towards more cost-effective…
Cooking ingredients and meals has almost completely recovered from the negative impact of the COVID-19 pandemic in 2023. At the same time, it is being affected by geopolitical changes in the region caused by the war in Ukraine. In 2023, inflation in…
The resumption of daily routines as the country emerges out of the Coronavirus (COVID-19) crisis has sparked spending on both personal and commercial credit cards. In 2023, the number of commercial credit cards in circulation is rebounding, following…
Thai consumers have been spending more on credit cards in 2023 in line with an increase in the consumer confidence index and a marked improvement in the Thai economy. Expenditure on various products and services, including shopping, restaurants,…
According to the Credit Card Association of the Philippines (CCAP), the Q1 2023 growth rate in credit cards, the highest since the outbreak of the Coronavirus (COVID-19) pandemic in 2020, reflects local consumers’ resurgence in terms of shopping,…
Wider acceptance is boosting the use of personal debit cards in Malaysia. The rising popularity of personal debit cards underpins the growth in the number of cards and volume and value transactions. The increased numbers of POS terminals is widening…
The adoption of digital payments in Thailand is growing, backed by the central bank policy to shift towards a less cash-reliant society which is free of charge transactions. The banking industry has launched cardless withdrawals to bring greater…
Debit cards in the Philippines have largely been known and treated as ATM cards only. Prior to the outbreak of Coronavirus (COVID-19), the use of debit cards was primarily for making cash withdrawals. This was because most people were either unaware…
In 2023, sunflower oil is witnessing moderate growth in retail volume terms compared to 2022 as unit prices fall. By some distance, it is the largest type of edible oil and is traditionally the cheapest oil per unit in Azerbaijan. The decrease in…
Sunflower oil dominates edible oils and consequently determines the overall market performance. Following price increases for sunflower oil in 2022 due to a rise in the cost of raw materials and logistics, prices declined in 2023 in the global…
Olive oil saw retail volume sales decline in 2023 at the same time as witnessing current value growth as unit prices continued to rise significantly. Most of the brands operating in the category, including Bertolli, Colavita, Naturel, and Filippo…
Consumers in Pakistan are gradually shifting towards premium and branded edible oils. This trend is driven by the perception of higher quality and safety associated with branded products. Premium oils, such as extra virgin olive oil, are becoming…
On aggregate, edible oils continued to record strong growth in Uzbekistan during 2023, despite the turmoil that has been seen in edible oils at regional and global levels, and the threat of inflation that has put pressure on spending power at local…
Financial cards and payments in Malaysia in 2023 exhibited significant continuation with 2022 in terms of the direction of travel in the post-Coronavirus (COVID-19) period. The strong moves towards a cashless society in Malaysia, pushed by the…
In 2023, the Thai economy is witnessing an economic recovery following the harsh impact of the pandemic and consumer confidence is on the rise. Private consumption is gathering momentum aided by the government program “Shop Dee Mee Kuen” (Shopping…
While the initial surge in spending and reopening of the economy, with the easing of the threat of Coronavirus (COVID-19) and lifting of related restrictions, has started to stabilise, the Philippines continues to experience robust growth in both…
In 2023, the ready meals category is showing growth in both retail volume and current value terms, mirroring the trends seen in the broader meals and soups category. Demand patterns are returning to normal cycles as employees embrace everyday life…
Ready meals is recording further double-digit value growth in 2023, driven by an increase in the price of raw materials and logistics; however, growth is more moderate than it was in 2022. Retail volume sales are also growing steadily as consumption…
Around the world, a rising number of consumers are looking to cut down on their consumption of meat due to concerns about health, the environment and animal welfare, and manufacturers are increasingly targeting this trend with new product…
With the increasing pace of life in urban areas, consumers, including a significant population of working women, are seeking meal and soup options that can be prepared quickly and with minimal effort. Products that offer easy preparation, such as…
In 2023, the meals and soups category showed sales growth in volume and value terms, spurred by the return to normal lifestyles post-pandemic and the return of employees to the workplace. The general increase in the number of working women in…
Despite increased competition from other payment methods, pre-paid cards retains the potential for growth as Malaysia continues to shift towards a cashless society. With the use of cash in long-term decline, a trend accelerated by the Coronavirus…
Pre-paid cards are largely used for commuting and travelling in Thailand, with a considerable amount of closed loop pre-paid card usage accounted for by electronic ticketing on the Thai capital’s public transportation systems BTS and MRT. During the…
The Coronavirus (COVID-19) pandemic led to a series of government aid initiatives distributed through pre-paid cards. This contributed to rising awareness among consumers about these financial products and their convenience, especially for…
Following the sharp price rises seen in 2022, retail prices of sauces, dips and condiments moderated in 2023 due to a slowdown in general inflation. Overall, ketchup remains in higher demand than mayonnaise in 2023, with retail volume sales rising at…
Ketchup and mayonnaise are recording further volume growth in 2023. Ketchup is a well demanded product in Kazakhstan and with plenty of meat dishes being a part of the local cuisine, spicy versions such as zhelanyja “for shahshlyk” are popular. Sales…
With consumers having returned to normal, busy lifestyles and COVID-19 related restrictions having been lifted, dining out was once again a popular option for consumers in 2023. In the midst of hectic schedules, consumers only cooked at home…
Among all the products in the category, ketchup is the most consumed in Pakistan. It is purchased by consumer households, as well as foodservice outlets, and there is no apparent distinction between urban and rural consumers. Its popularity has led…
In 2023, the sauces, dips and condiments category is witnessing a more moderate pace of current value growth compared to 2022. Falling unit prices have curbed current value growth in 2023, but are supporting overall volume sales. Overall, the fastest…
At the beginning of 2023, the Thai government launched the Shop Dee Mee Khuen (Shop and Pay tax deductions program) allowing a personal income tax deduction of up to THB40,000. This programme covers a variety of goods and services such as fuel, food…
Retail volume growth has picked up in jams and preserves, aided by the slowdown in retail price inflation in 2023. In 2022, there was a significant price jump in this category due to the rising cost of sugar, fruits and berries. The most popular…
There was a significant price increase in the sweet spreads category in 2022 due to a rise in the cost of import-dependent raw materials and logistics. In 2023, however, prices stabilised as a result of a decline in inflationary processes in the…
Retail volume sales of sweet spreads declined significantly in 2023. Sweet spreads such as jams and preserves, as well as nut and seed based spreads, are mainly consumed with bread for breakfast, with local consumers preferring artisanal bread with…
Rising inflation and a shift towards the purchase of essential food items has resulted in a conservative approach to spending in 2023, leading consumers to opt for more cost-effective options. As a result, chocolate spreads, which are considered more…
The sweet spreads category is witnessing a recovery in volume sales in 2023 as retail prices stabilize relative to 2022 levels. Retail prices had soared in 2022 due to the rising cost of raw materials (sugar, fruits), as well as logistics and…
Swift population expansion in Malaysia in 2021-2040 will be mainly driven by natural increase, though positive net migration after 2022 will also contribute. Ageing will be a key theme, affecting consumer trends and putting further pressure on the…
While current value sales are expected to increase, constant value sales are expected to fall. Rising costs hit profitability, as inflation is still an issue, though the rises in prices is easing. That being said, volume sales are expected to…
Breakfast cereal is expected to register moderate constant value and also volume growth. Breakfast cereal is still an immature product, with relatively low value sales, and as such has plenty of room for growth. Locals traditionally eat bread, with…