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.
Notwithstanding the decline in the birth rate and the contraction in the infant population, which has had a direct negative impact on categories such as milk formula, it has not depressed demand for upgraded consumption in paediatric consumer health.…
Demand for paediatric consumer health remains strong and rising in 2023, driven by increasing attention to children’s overall health and wellbeing, and consistent consumer education in Vietnam. An increasing mindset of prevention is prompting some…
Sleep disorders were already in the spotlight after the outbreak of COVID-19, and demand for sleep aids rose, given the disruption to daily routines, coupled with long screen hours during the lockdowns. However, despite the easing of COVID-19…
Having already recovered to pre-pandemic levels the previous year, demand for sleep aids in Vietnam continues to grow in 2023. Although both retail volume and value growth rates are slower compared to 2022, demand remains healthy. The waning impact…
As individuals are adapting to the new normal as restrictions have been lifted, and are seeking to regain a sense of normalcy, the return to outdoor activities and sports engagements has become a prevailing trend in 2023. This shift holds promising…
In 2023, further consumer interest in sports nutrition is being driven by the growing health and wellness trend, particularly in terms of looks and fitness. Traditionally, the category’s main customers are young people who like to work out and care…
Vitamins enjoyed a surge in demand throughout the COVID-19 wave which started after the lifting of COVID-19 restrictions in December 2022, and lasted during the first half of 2023. Products with the purpose of immune support, such as vitamin C, which…
Despite a noticeable slowdown in growth following a dynamic performance in 2020 and 2021 at the height of the pandemic, demand for vitamins in Vietnam continues to rise in 2023, driven by greater awareness among local consumers of their health and…
Despite the lifting of COVID-19 restrictions at the end of 2022, in 2023 consumers have not fully emerged from the shadow of COVID-19. Lingering health concerns and illness have led to an increased focus on health and immunity. This heightened…
Demand for weight management and wellbeing continues to rise in Vietnam in 2023. Consumers' sedentary lives and lack of exercise during the pandemic have resulted in significant weight gain, which has become a primary driver of category growth.…
China has been investing significantly in its healthcare infrastructure, including hospitals and clinics, which has been positively impacting the demand for medical supplies, including wound care products. In 2023 overall, an intriguing phenomenon is…
The pandemic fostered a heightened sense of health consciousness among local consumers, prompting them to engage in various forms of exercise once restrictions were eased as they were able to spend greater time outside of the home. Popular outdoor…
The year 2022 saw significant price increases in baby food leading to a dynamic rise in current value sales, although demand was hampered as a result. As the inflation rate slows somewhat in 2023, current value growth has also abated, although…
In 2023, baby food in Hong Kong is set to experience significant retail volume and current value rebounds, following the end to the pandemic and the lifting of all COVID-19 restrictions. The sharp recovery of baby food owes much to the reopening of…
Milk formula is set to see a decline in retail volume terms in Japan in 2023, due to the continuous decline in the number of new born babies. Although the birth rate in Japan has been continuously declining for decades, the pandemic accelerated the…
Milk formula in Singapore is set to see a continued decline in retail volume sales in 2023, impacted by the resumption of travel across the Singapore-Malaysia land borders. From 1 May 2022, cross-border public bus services (SBS Transit Ltd, SMRT…
Baby food is set to continue to exhibit growth in retail current value terms in South Korea in 2023, with some variations observed at the category level. This increase in value sales can be attributed to inflation-induced p rice rises, as when…
Baby food is seeing positive value and volume growth in 2023, supported by the return to normality following the era of the COVID-19 pandemic and, in turn, consumers’ return to out-of-home lifestyles – despite the sluggish birth rates in Thailand…
Butter and spreads are seeing retail prices fall in 2023, following a period of dynamic price increases in 2022. Current value sales have been pushed into decline as the inflation rate slowed in Azerbaijan and logistical supply chains were adjusted…
The consumption of butter in Hong Kong experienced robust total volume growth following the initial pandemic disruption. Over the course of recent years, butter consumption in Hong Kong has been consistently influenced by a variety of lifestyle…
Butter is set to decline in retail volume terms in 2023, due to the impact of inflation, which has been driving up unit prices. The price of butter had been stable over the last few years, as many products, such as Meiji Hokkaido Butter, are locally…
Butter and spreads is set to continue to record a decline in retail volume sales in 2023, due to normalisation of sales following a spike in 2020, when home seclusion during pandemic lockdowns promoted home cooking and baking. Following the lifting…
In 2023, overall butter and spreads in South Korea is expected to continue to show positive growth in retail current value terms, although the growth rates vary across different categories. While inflation has contributed to the overall sales…
Butter and spreads is benefitting from the resumption of tourism following the reopening of society after the pandemic years. Indeed, Thailand’s tourism trade is again booming, which positively impacts sales via foodservice channels. Many sales of…
Retail price inflation slowed down in 2023 and this had a positive effect on the cheese category, with retail volume sales rising at a steady pace. Still, the cheese category remains import-dependent, a factor that also influences pricing. The war in…
Sales of cheese in Hong Kong are expected to experience a significant retail current value boost in 2023, mainly due to a substantial rise in the average unit price. The overall unit price of cheese is set to increase by over 10% compared with the…
Cheese is set to see solid growth in retail current value terms in Japan in 2023, largely driven by unit price increases due to inflation and the rising cost of raw materials and energy. Major dairy players such as Megmilk Snow Brand, Meiji Co Ltd,…
In 2023, the High Court of Singapore ruled that the term “Parmesan” is a translation of the Italian term “Parmigiano Reggiano”. According to the ruling, only Parmigiano Reggiano DOP (Denominazione di Origine Protetta) cheese produced in a particular…
In 2023, cheese in South Korea is expected to continue to thrive in retail current value terms, building on the positive growth observed in the previous year. However, a notable opposite trend has emerged in volume terms, as all cheese categories…
As cheese in not typically a main ingredient in Thai cuisine, tourism is an integral factor towards sales and, thus, cheese was affected by the event of the COVID-19 pandemic due to the lack of tourism during this time. As such, cheese manufacturers…
Dairy products and alternatives are witnessing significant growth in current value terms, due to inflation and higher production costs, which is placing upward pressure on retail prices. Consumer price sensitivity remains strong with a high…
Retail volume sales of dairy products and alternatives in Hong Kong showed a slight resurgence in 2022 as the pandemic subsided, and this is set to continue in 2023, benefiting from the restoration of local consumption and the return of tourists.…
Dairy products and alternatives is set to continue to grow in current value terms in Japan in 2023, largely driven by unit price increases, due to inflation and increases in production costs. Most of the categories within dairy products and…
In 2023, retail volume sales of dairy products and alternatives in Singapore are set to see a slight decline after the pandemic-led boom in 2020, which was an exceptional year in which several categories, such as fresh milk, saw a spike in retail…
In 2023, dairy products and alternatives in South Korea is set to experience growth in retail current value terms, primarily driven by inflationary factors, which have been affecting the global dairy market. The country’s unique milk pricing system,…
Inflationary pressures continue in 2023, although to a lesser extent than seen in 2022. Within this context, various players decided to increase their prices in order to protect their margins from their own higher costs – especially so in drinking…
Price growth in drinking milk is stabilizing in 2023 following the rapid increase in prices of drinking milk products. Still, milk is a staple product in the country and consumption therefore remains on an even keel, even in periods of high…
The retail volume demand for drinking milk products in Hong Kong has gradually stabilised, subsequent to an unprecedented surge witnessed during the height of the pandemic, followed by a strong decline. Over the course of the pandemic, retail sales…
In 2023, drinking milk products in Japan, which includes flavoured milk drinks, milk, and powder milk, is set to remain at almost the same level of sales as the previous year in current value terms. However, retail volumes are set to suffer a notable…
In Singapore, inflation has been on the rise in milk, primarily due to global supply chain disruptions caused by the COVID-19 pandemic. As a result, dairy farmers are struggling to meet the growing demand for milk, leading to higher prices for…
In 2023, drinking milk products in South Korea is expected to continue to thrive in current value terms, building on the positive growth seen in the previous year. However, this growth trajectory varies significantly at the category level, and the…
Milk is one of the products in dairy which has been strongly affected by associative price hikes seen in raw materials and ingredients, labour, and logistics. Therefore, a number of players were forced to increase their prices, whilst other kept…
Retail prices for other dairy products have moderated in 2023 after the sharp hikes seen in 2022. Current value sales remain positive for most essential other dairy products, including cream and fromage frais. The latter is by far the most popular…
The demand for and retail volume sales of other dairy products experienced decline even before the pandemic, primarily driven by a shift in consumer preference. Despite a year of respite in 2020, this shift was largely unaffected by the COVID-19…
In 2023, other dairy is expected to suffer a significant decline in retail volume terms in Japan, as consumers have been tightening their belts in response to higher living costs. Other dairy manufacturers had already implemented price increases in…
Consumers in Singapore have access to a wide variety of cream. These include fresh and long-life whipping cream, light cream, sour cream, and speciality creams such as clotted cream. These products are available in different fat content options to…
Overall sales of other dairy products are set to continue to decline in both retail volume and current value terms in 2023. Amongst the various categories within dairy products and alternatives, other dairy was the least affected by the pandemic’s…
Thailand’s return to out-of-home lifestyles, following the era of the pandemic, has and continues to benefit sales through foodservice channels. Indeed, tourism is reviving, and consumers’ busier, on-the-go lifestyles mean both dine-in and…
Retail volume sales of soy drinks have been growing at a slow but stable rate over the years, due to consistent consumer demand and the maturity of the category, with this trend set to be maintained in 2023. Soy drinks have been popular in Hong Kong…
Plant-based dairy is set to see a decline in retail volume terms in 2023, largely due to the decline in soy drinks, which accounts for nearly 85% of overall sales in retail value terms in plant-based dairy. Over the review period, soy drinks saw…