Asia Pacific

In 2023, Laos is facing a new set of economic challenges attributed to the global surge in fuel prices, the devaluation of the Lao Kip, and rising inflation. As of April 2023, inflation increased significantly, primarily driven by the devaluation of…

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…

Political and economic repercussions, such as regional conflicts, inflation, and currency depreciation, resulting from the 2021 coup have cast a shadow on Myanmar's staple foods in 2023. Retail prices have persistently surged across various…

Pakistan’s economy continues to struggle and the government secured a further USD3 billion bailout from the IMF in July 2023, avoiding an impending default. Inflation continues to be very high and is being driven by several factors, including…

Staple foods in Singapore continued to experience marginally higher average unit prices from the lingering effect of the inflationary wave in 2022. Climate change and geopolitical risks further impacted global food production and supply chains,…

Staple foods, closely associated with economic conditions in South Korea, is experiencing slower growth rates in many categories due to recent external economic factors. Elevated inflation rates have led to an upward trend in retail value sales…

In 2023, staples in Sri Lanka witnessed a shift in consumer preferences. Baked goods like fresh bread and pastries have gained popularity as more prepare their meals at home. Health-conscious are consumers seeking diverse breakfast cereals.…

In 2023, staple foods in Taiwan was affected by the resumption of travel and eating out as key trends with the lifting of Coronavirus (COVID-19) restrictions. Thus, demand shifted back from retail to foodservice as a result of less time spent at…

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…

Retail sales of staple foods and alternatives in the Philippines recorded moderate growth in volume terms in 2023. This was in spite ongoing inflationary pressures, with food prices posting an upward trend, thanks to energy price hikes and…

After a very turbulent period for staple foods in 2022, with geopolitical changes in the region driving up prices on most grocery products, volume sales have picked up in 2023. The Uzbek economy has improved with retail prices in a number of…

Retail prices of staple foods in the Vietnam continued to rise in 2023. While inflationary pressures began to ease, the ongoing war in Ukraine had a major impact on the prices of key raw materials, due to the disruption of the global supply chain.…

In 2023, as local consumers return to more normal lifestyles, total volume sales of starchy roots are starting to recover from the previous year’s disruptions when pandemic-related restrictions in China were still in place, which negatively impacted…

Starchy roots is set to maintain slow and stable total volume growth in India in 2023, with increases expected by all measures. Potatoes remains by far the dominant category within starchy roots, but is set to see the slowest rate of growth in 2023.…

Total demand for starchy roots in Japan continues to improve in 2023, mainly driven by foodservice and retail channels. Like many categories of fresh food, foodservice volume sales of starchy roots experienced significant declines at the height of…

The unit prices of starchy roots increased significantly throughout 2022 and 2023 due to constant rises in the costs of production and unfavourable weather conditions throughout the year. Like other fresh food categories, the farming and production…

In 2023, an increased awareness of the importance of health and wellness contributed to the rise in demand for starchy roots in Vietnam. The nutritional advantages of eating these foods, such as high-quality carbs, dietary fibre, and crucial…

Store cards remains a negligible category in the country. The majority of establishments in India tend to offer loyalty cards (these can be used to add and store reward points as credit currency, a simpler solution without the threat of debt…

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…

Store cards in South Korea is experiencing a trend of stagnant growth. Despite the enduring appeal of store cards and their unique set of benefits, the growth rates in both 2022 and 2023 feature stabilisation rather than substantial expansion.…