Asia Pacific

Demand for home laundry appliances is growing in 2023 following a marginal dip in retail volume sales the previous year. The category’s performance is mainly attributed to a significant increase in demand for automatic dryers, while retail volume…

In keeping with the pattern witnessed over the latter part of the review period, sheer hosiery in Taiwan is set to contract in volume terms in 2023. Falling demand is partly explained by changing fashion preferences, with many younger women inclined…

Despite persisting inflationary pressures, volume sales of hot drinks in the Philippines recorded healthy growth in both retail and foodservice channels in 2023, with improving economic conditions and the greater mobility of Filipino consumers…

Vietnam is predicted to see GDP growth of 4.5% by the end of 2023, compared to the initial forecast of 6.5% at the beginning of the year, as per the General Statistical Office study. Soft labour markets and concerns about an impending global…

Jeans has shown another healthy performance in volume terms in 2023, with overall growth set to equal that recorded in 2022. Solid demand is partly explained by the fact that these garments are perennially in fashion and have a broad appeal among…

Volume sales of juice saw relatively modest growth in 2023, with demand remaining below pre COVID-19 levels. Juice drinks, the largest product area, came under pressure during the pandemic, when the closure of schools throughout the Philippines…

Sales of juice have been negatively impacted by the impact of inflation on the cost of living and by the gloomy economy with growth through both the on-trade and off-trade channels slowing in volume terms in 2023 as people have been forced to save…

Demand for large cooking appliances continues to experience decline in 2023, resulting from economic instability and a real estate slowdown that has persisted from the previous year. Local consumers are choosing to continue using their existing large…

While menswear in Taiwan is poised to record an improved performance in total volume sales terms in 2023, growth has been tempered by changes in consumer behaviour. Demand is now stabilising in the wake of the rapid rebound facilitated by the lifting…

South Korea experienced a 3.7% inflation rate in September 2023, the highest in five months since April. This increase follows a peak inflation rate of 6.3% in July 2022, which then gradually decreased to 2.3% by July 2023. As the cost of living…

Other hot drinks continued to grow in retail volume terms in 2023., supported by the greater mobility of consumers. With children returning to school, and employees going back to their physical workplaces, consumers showed a growing interest in…

Sales of other hot drinks have continued to decline in retail volume terms in 2023 which is in part due to consumers spending less time at home now that the pandemic is over and consumers have returned to work and school. Retail sales of other hot…

As pandemic-related social distancing regulations have been largely lifted in South Korea, and consumers have resumed activities such as returning to the workplace, there has been increasing demand for personal care appliances. The return to normalcy…

Sri Lanka is grappling with multiple issues including weak economic freedom, corruption, and denial of human rights. Furthermore, an economic crisis led to political instability and trigged hyperinflation, although prices have fallen fast, and output…

Retail volume sales of refrigeration appliances continue to decline in 2023, following the trends of a post-pandemic era, inflation, and reduced consumer spending. The volume decline is not as steep as the previous year, and overall demand remains…

Off-trade volume sales of RTD coffee continued to expand at a moderate rate in 2023, thanks to the increased mobility of Filipino consumers. Primarily sold in convenience stores and supermarkets (and to a lesser degree, small local grocers and…

RTD coffee has continued to see steady growth in off-trade volume terms in 2023. Although RTD coffee is a relatively niche category, especially when compared to similar products such as RTD tea, it nonetheless appears to still have plenty of…

Building on the momentum of 2022, volume sales of RTD tea recorded healthy growth in off-trade channels in 2023. This was largely due to the return of normal, fast-paced lifestyles, which led to an increased incidence of impulse purchases through…

RTD tea continues to post steady growth in off-trade volume terms in 2023, while in on-trade volume terms sales continue to post a strong recovery. The strong performance from RTD tea is thanks to the burgeoning health and wellness trend in Vietnam,…

Economic instability is reducing consumer spending on non-essential items such as small cooking appliances. Consumers are concerned about their financial situation and have become increasingly conscious of their expenditure, reducing their propensity…

Despite continued inflationary pressures, volume sales of soft drinks in the Philippines recorded moderate growth in both on-trade and off-trade channels in 2023. Building on the momentum of 2022, the greater mobility of Filipino consumers…

Vietnam is predicted to see GDP growth of 4.5% by the end of 2023, compared to the initial forecast of 6.5% at the beginning of the year, as per the General Statistical Office study. Soft labour markets and concerns about an impending global…

Sports drinks saw minimal growth in volume terms in 2023, despite the health and wellness trend. This was due to intensified competition from other types of soft drinks, such as functional bottled water, which were seen as healthier sources of…

In 2023, there were a number of large sporting events that were organised across several Vietnamese cities, including Hanoi, Ho Chi Minh City, Can Tho, Da Nang, and Lao Cai. This forms part of the government's strategic strategy to encourage sports…

Despite substantial price hikes amidst rising inflation in Taiwan, growth in sportswear current value sales in 2023 is set to be slower than in 2022. This is mainly because falling purchasing power and heightened economic uncertainty have led most…

Retail volume sales of tea saw accelerated growth in 2023. This was supported by a growing consumer emphasis on health and wellness, a trend that was facilitated by the pandemic. This supported the expansion of green tea, consumption of which is…

Sales of tea have continued to recover in retail volume terms and foodservice volume terms in 2023. Despite the economic pressures facing many households tea has continued to see stable demand in 2023 with sales backed by the end of the pandemic and…

Retail volume sales of vacuum cleaners as a whole are falling in 2023, despite another dynamic performance by robotic vacuum cleaners with robust double-digit volume and value growth. Standard vacuum cleaners are relatively mature in South Korea,…

Total volume sales growth for womenswear in Taiwan in 2023 is expected to be down slightly on the previous year. This is partly explained by the normalisation of consumption patterns following the impressive rebound that accompanied the easing of the…

The briefing examines how the pulp commodity performs globally and in the largest countries in terms of supply and production. The report also provides data and analysis on pulp price dynamics, as well as trends across key commodity-consuming…

Baked goods, such as packaged leavened bread, packaged cakes and packaged pastries, are considered essential foods by Malaysians, being typically consumed for breakfast or during tea breaks throughout the day. Packaged baked goods are also widely…

Baked goods manages to achieve positive growth in both retail value and volume terms, despite the return of foodservice heralding stronger growth in on-trade terms. The resumption of tourism, following the era of pandemic restrictions, is attributed…

Bangladesh will experience rapid population expansion in 2021-2040, driven by natural increase. Rapid ageing will be a key theme, though the country will remain younger in terms of median age than the region overall. As well as a substantial and…

Retail sales of breakfast cereals in Malaysia recorded continued growth in volume terms in 2023. This was in spite of the weakening of the local currency, the ringgit, against the US dollar, which brought about higher import costs. With Malaysia…

Breakfast cereals maintain demand due to convenience as a nutritious breakfast meal. In this sense, products such as RTE cereals and muesli and granola are proving a success, thanks to the ongoing health and wellness trends. Players in RTE cereals…

As processed fruit and vegetables are commonly used ingredients in foodservice, the continued recovery of foodservice industry in 2023 had a positive impact on demand. Indeed foodservice volumes grew much faster than their retail counterparts, thanks…

The rebound of tourism after the pandemic era restrictions is helping to boost sales of processed vegetables, because such products are usually consumed by tourists or expats. On the other hand, Thai consumers do not often consider frozen vegetables…

Retail volume sales of processed meat, seafood and alternatives saw modest growth in 2023, continuing the trend of the previous year. Products such as chilled processed meat have a low level of demand in Malaysia, due to an overwhelming consumer…

Processed meat, seafood, and alternatives to meat benefits from lower prices compared to its fresh variants. Additionally, due to inflationary pressures overall and the cost-of-living crisis, many consumers prefer to cook at home instead of dining…

Retail sales of rice saw continued growth in volume terms in 2023. This was in spite of the rising price of imported rice, thanks to the depreciation of the local currency, the ringgit, and disruptions to the global supply chain. Malaysia imports a…

Sales of rice, pasta, and noodles benefit from such products being affordable staples, especially during a time of economic uncertainty, when consumers are cooking at home regularly. In particular, rice is seeing the highest growth as rice continues…

Retail sales of staple foods in Malaysia recorded continued growth in volume terms in 2023. This was in spite of rising food prices, thanks to the weakening of the local currency, the ringgit, against the US dollar, which brought about higher import…

Staple foods in Thailand is seeing an overall positive performance, in both value and volume terms. That said, the category continues to be affected by inflationary pressures which are pushing up prices, alongside the cost-of-living crisis which is…

Consumer purchasing power fell in 2023 due to devaluation of the local currency against the dollar. This has made many staples unaffordable to a large swathe of the population. Most middle income demographics tend to do a minimum shop to cover their…

The majority of Chinese consumers try to positively impact the planet, leading to a rise in Meat Avoidance, with most of these consumers willing to pay more for sustainable products. As such, the largest industry of Dairy Products and Alternatives is…

While reducing food waste and recycling are well-established green habits, many consumers are apathetic, believing their actions make no difference. This creates opportunities to focus on actionable sustainable claims and campaigns, highlighting…

While the majority of consumers in Hong Kong try to positively impact the planet, apathy has risen, with under half believing their actions can make a difference. Despite this, almost 40% of consumers identify as being Meat Avoiders. This creates…

Reducing plastic use and reducing food waste is well-established in Indonesia, with over 40% of consumers identifying as Zero Wasters. This creates substantial opportunities, as half of these consumers are willing to pay more for sustainable goods.…

The majority of Japanese consumers reduce food waste and plastics, making Zero Waste claims and Sustainable Packaging well-received. Climate concerns are rising in the country, making locally sourced goods appealing while meat avoidance is…

The majority of consumers in Singapore try to positively impact the planet, leading to a rising amount of Meat Avoiders, who are willing to pay more for sustainable options. Utilising the vegetarian claim would appeal to these consumers, while…