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.
Following the decline during the pandemic and lockdown period in 2022, a current value resurgence was witnessed for toys and games in China in 2023, with growth for both traditional toys and games and video games. The lifting of lockdown policies…
The market for toys and games in Indonesia saw mid-single digit growth in current value terms in 2023, a slight improvement over the previous year. Sales were impacted by inflationary pressures, mainly due to higher food and energy costs. While the…
Toys and games in Japan saw low current value growth in 2023, with increases for both traditional toys and games and video games. In traditional toys and games, games and puzzles continued to be the largest category. It accounted for less than a…
The toys and games market witnessed current value growth in Malaysia in 2023. Construction and action figures were the two largest categories in traditional toys and games, with action figures proving to be a key growth driver during the year. IP…
Toys and games in Singapore saw solid current value growth in 2023, with increases for both traditional toys and games and video games. Toys and games has a dynamic landscape, being shaped by evolving consumer preferences, technological advances, and…
Toys and games in the Philippines saw steady growth in current value terms in 2023, albeit growth was more stable compared to the dynamism of the previous two years. Several factors shaped consumer purchasing behaviour and market trends in 2023.…
After a year of decline due to the pandemic in 2022, traditional toys and games in China saw a rebound to growth in current value terms in 2023. Dolls and accessories experienced a relatively high value growth rate in 2023, in the high single digits.…
The market for traditional toys and games in Indonesia registered a weak performance in current value terms in 2023, when compared to the previous year. Sales were impacted by inflationary pressures, mainly due to higher food and energy costs. While…
Traditional toys and games in Japan maintained dynamic current value growth in 2023. There were several trends that shaped this category; amongst them, purchases by adults continued to be a major growth driver and had a wide-ranging impact. These…
Overall, traditional toys and games saw current value growth in Malaysia in 2023. IP was a key driver of demand in action figures, dolls and accessories, and construction in 2023, with several movies, including The Super Mario Bros Movie, Guardian of…
Traditional toys and games in Singapore saw slow current value growth in 2023, maintaining the trend seen for a number of years, with low increases across all categories. In terms of the distribution of such products, traditional toys and games…
2023 was a tough year for sales of traditional toys and games in the Philippines with elevated inflation and a sharp rise in the cost of living forcing many households to exercise greater caution in their discretionary spending. Despite these…
In 2023, video games in China exhibited a strong rebound, with a double-digit growth rate in current value terms. This resurgence can be attributed to several key factors. First, the normalisation of new game licenses in 2023 injected new vitality…
Video games in Indonesia saw an improved performance in 2023, when compared to the previous year. However the rate of current value growth remained significantly below the heights achieved in 2020 and 2021, largely due to individuals returning to…
Video games in Japan saw slow current value growth in 2023, with growth driven by video games hardware. Thanks to PlayStation 5 finally seeing a significant boost to its sales, this category saw a double-digit current value increase in 2023. Sony…
Overall, video games saw current value growth in Malaysia in 2023. Sony’s PS4 and PS5 contributed to significant volume sales in static consoles in 2023, with sales supported by PS5 stock availability and also the availability of the newer version,…
Video games in Singapore maintained dynamic, although slower, current value growth in 2023, with stronger growth for video games software than hardware. In light of the relentless pace of life in Singapore, consumers are increasingly drawn to games…
Video games continued to outperform traditional toys and games in 2023, with the category continuing to record healthy growth in current value terms despite the challenging market conditions. Nonetheless, the picture varied between the performance of…
After many years of growth, in 2023 toys and games in South Korea witnessed a notable current value decline, with traditional toys and games seeing only a slight fall in sales, and video games a stronger decrease. Toys and games witnessed a decrease…
After seeing a fairly steep decline in 2022, traditional toys and games in South Korea saw a further small fall in sales in current value terms in 2023. Only half the categories within traditional toys and games showed growth in 2023, with just four…
In 2023, video games in South Korea experienced a notable current value decline. This turnaround, after years of growth, was propelled by various factors, foremost among them being the waning impact of COVID-19, which led to a resurgence in outdoor…
Gardening in China experienced another remarkable surge in sales in current value terms in 2023, primarily driven by the significant rise in urbanisation, and scarcity of green spaces, which led consumers to seek a connection to nature, and thereby…
After a year of decline in 2022, home and garden in China witnessed low current value growth in 2023, fuelled by increasing urbanisation, rising disposable incomes, and a growing middle-class with a penchant for home improvement and lifestyle…
After seeing a notable decline in 2022, home furnishings in China experienced minimal growth in current value terms in 2023. This limited rebound was primarily due to economic uncertainties, including fluctuations in the housing market and changes in…
In 2023, home improvement in China experienced a slow current value increase, primarily owing to a resurgence in demand after a sluggish year in 2022. This was mainly because of the boom in real estate in China, and the renewed interest in home…
After seeing a decline in 2022, homewares in China experienced a rebound to slight growth in current value terms in 2023. Value sales of beverageware experienced a notable upswing in this year. In addition to being a rebound from 2022, growth was…
Toys and games in Thailand experienced a slowdown in retail value growth in 2023, amid factors like a gradually slowing birth rate and falling 0-14-year-old population and economic pressures in an inflationary climate. Video games continued to…
Traditional toys and games in Thailand saw a slight increase in retail current value sales in 2023, although this equated to a marginal drop overall at constant 2023 prices. This reflected the tendency of new generations of younger consumers to seek…
Video games in Thailand significantly outperformed traditional toys and games in retail value sales and growth terms in 2023, continuing the trend witnessed during the review period. Interest spiked in the wake of the Coronavirus (COVID-19) pandemic.…
Value sales of garden care in Hong Kong continued to grow in 2023 due to a combination of factors. Increased urbanisation and housing development in Hong Kong have led to a greater need for green spaces and gardens, driving demand for garden care.…
Following considerable expansion of 6.4% in 2021, annual real GDP in Hong Kong shrank by 3.5% over 2022. The city's economic environment deteriorated during the year, due to a combination of factors, including a fifth wave of COVID-19 and sluggish…
In 2023, value sales across much of home furnishings in Hong Kong recorded a further decline. The local market is becoming saturated with a variety of durable bath textiles, for instance, reducing the need for frequent replacements. Economic…
Value sales of carpets in Hong Kong grew in 2023, primarily due to the evolving preferences of homeowners towards enhancing interior aesthetics and comfort. As many local citizens continue to spend significant time at home, even post-pandemic, there…
Value sales of homewares in Hong Kong experienced further decline in 2023 despite remaining above pre-pandemic levels. Nevertheless, economic uncertainty due to the ongoing war in Ukraine and the lingering impact of the pandemic led to cautious…
Asian speciality drinks in China continued to see declines in both on-trade and off-trade volume and current value sales in 2023, due to the weak performance of the major product type, fruit vinegar. Fruit vinegar is a traditional beverage that…
In 2023, bottled water in China registered low off-trade volume growth, and slightly higher current value growth. The average unit price of bottled water trended upwards in 2023, as an increasing number of consumers opted for mid-range or even…
Off-trade volume and current value sales of carbonates continued to see dynamic growth in China in 2023. Brands were able to maintain growth through innovations in areas such as sugar reduction and flavours. Sugar reduction (the use of sweeteners)…
Concentrates in China saw off-trade RTD volume and current value declines in 2023. Nevertheless, liquid concentrates maintained solid growth by both measures in this year, driven by coffee liquid concentrates, which are being increasingly popular in…
Energy drinks in China registered dynamic off-trade volume and current value growth in 2023, with growth rates exceeding those of most other soft drinks categories. Growth in energy drinks was driven by three main factors. The first was the recovery…
Juice in China saw off-trade volume and current value declines in 2023. This was mainly due to increasing health awareness amongst consumers, and therefore a decline in the popularity of juice drinks and nectars, which often have high sugar content…
As full reopening after COVID-19 was seen in the country in 2023, RTD coffee in China recorded single-digit growth in both off-trade volume and current value terms; however, sales remained below the 2021 level. RTD coffee experienced a decline in…
RTD tea in China saw slow off-trade volume growth in 2023, along with a stronger current value increase. Reduced sugar still RTD tea led growth in the category in this year, despite still only capturing a minor share of sales of overall RTD tea…
In 2023, soft drinks in China maintained low off-trade volume growth, and a stronger current value increase. Meanwhile, although on-trade volume sales of soft drinks continued to decline, it was at a much slower rate, and current value sales saw a…
Sports drinks in China saw significant off-trade volume and current value growth in 2021 and 2022, and growth continued in 2023, although at slower rates. This dynamism was due to comprehensive consumer education on the hydration benefits of…
Toys and games in Hong Kong recorded low current value growth in 2023, fuelled by the challenges from the global economic situation as well as local consumers spending elsewhere. Traditional toys and games, in particular, experienced a notable…
The popularity of scientific/educational toys in Hong Kong continued to grow in 2023. These types of toys are designed to be both educational and entertaining, and encompass a broad range of academic topics. They have proven popular with families…
Static consoles in Hong Kong recorded further growth in 2023, supporting leading brand Nintendo Switch. This was due to the commercial success of popular game titles such as Pokémon: Scarlet and Violet, and Animal Crossing: New Horizons, which have…
In 2023, baby food in Hong Kong finally returned to positive growth, recording a strong rebound in its packaging unit volumes, following the end to the pandemic and the lifting of all COVID-19 restrictions. The sharp recovery of baby food owes much…
There was some volume growth of cigarettes in Azerbaijan in 2023. While the government has imposed policies to reduced prevalence, including increasing excise taxes, banning advertising and imposing restriction on smoking in public places, smoking…
Overall, cigars, cigarillos and smoking tobacco registered healthy volume growth in 2023 in Azerbaijan. That being said, in terms of cigars, value sales were still low, Cigars appeal to a niche consumer base and are considered expensive by the…