Asia Pacific

Value sales of pet products in Hong Kong continue to show consistent growth due to increasing demand for evolving and convenient products that promote co-sharing between pets and owners. Technological innovations, such as smart cat litter systems,…

According to travel data, domestic tourism is expected to show double-digit growth in the number of trips in 2024, given consumers are able to travel to explore different places thanks to faster and more efficient transport systems, and the greater…

Sales in pet products maintain positive sales in Indonesia in 2023, albeit with growth rates slowing down compared to the boom seen during the pandemic lockdowns. Notably, pet products are very much tied to the pet humanisation trends which arose…

Within pet products in Japan, hygiene-related items such as cat litter and toilet sheets continue to drive sales growth, although the impact from inflation is also driving up price increases and the category’s value. In Japan, dogs tend to be kept…

Pet products is set to maintain solid current value growth in Malaysia in 2024, with growth across all categories. However, cat litter is expected to see by far the strongest increase. The cat population continued to rise in 2023, and this trend is…

Pet products saw healthy current value growth in Singapore in 2023, and this is set to be maintained in 2024, with growth across all categories. Pet healthcare is expected to continue to record stable current value growth in 2024, which is partially…

In 2024, pet products in South Korea is set to maintain the trend seen in 2023, displaying overall resilience, but each category exhibiting its own growth trajectory. Cat litter, for example, is expected to see continued consistent and robust…

One area which presents huge potential for sales growth in pet products lies in the increasing integration of technology into the daily lives of consumers: the possibility that there could be strong demand for smart and connected devices for pets.…

Value sales of pet products in Thailand continue to rise, in line with the general adoption of different pets in the country. There is also a societal shift in Thailand, with an increasing number of local consumers choosing to remain single rather…

In 2023, in addition to driving up the prices of pet food, inflation also drove up prices for pet products in the Philippines, due to rising manufacturing and distribution costs. This put a strain on pet owners’ budgets. Therefore, although retail…

Pet products is being supported by sales in pet healthcare in Vietnam in 2024, with other pet products (toys, bedding, etc.) also performing well. Ultimately, the performance of pet products is tied to the pet humanisation trends, although the…

Being a mature product, soy drinks registered fairly modest growth in retail current value terms in 2023. This was driven primarily by price adjustments made by leading players such as Zuming and Vitasoy, due to rising costs of soybeans and labour,…

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…

Soy drinks continued to dominate demand for plant-based milk in India at the end of the review period. It is popular for several reasons. Firstly, soy is widely consumed in India in various forms, where it is used in different vegetable-based dishes,…

Soy drinks is the best-known and most popular plant-based dairy sub-category in Indonesia, followed by mung bean milk. Soy drinks have a long history in Indonesia and are enjoyed by many consumers. Their positioning is not so much as a milk…

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…

“Other” plant-based milk is projected to continue to see dynamic retail volume and current value and foodservice volume growth to continue to gain on soy drinks over 2023. “Other” plant-based milk is increasingly present on menus in foodservice…

The growth and adoption of other plant-based milk has flourished through foodservice, particularly fast-growing chained specialist coffee shops. In recent years, different other plant-based milk options have become more widely available in…

Plant-based dairy experienced a notable increase in sales over the review period, and this is set to continue in 2023. In South Korea, plant-based dairy is primarily dominated by plant-based milk, as plant-based yoghurt and cheese are still in their…

In the first half of 2022, due to the surge in confirmed cases and a high number of people under home quarantine, there was a significant increase in demand for large-sized soy milk products and plant-based milk products that can be stored at room…

Health and wellness trends continue to boost the popularity of plant-based dairy in Thailand. This is being driven by low-fat and low-sugar demands, as well as providing options for consumers who are allergic or intolerant to cow’s milk. Such factors…

Soy drinks remained the only significant subcategory within plant-based dairy in 2023. Retail volume sales of soy drinks declined sharply during the COVID-19 pandemic in 2020 and 2021, due to decreased incidence of impulse purchases through…

The consumption of plant-based dairy remains a prominent and enduring trend within the broader dairy industry in 2023. The rise in popularity of the health and wellness and sustainability movements has significantly contributed to the increase in…

The two major pack types used for plant-based milk in China are metal beverage cans and brick liquid cartons. The latter continued to gain share over the former in 2023 since brick liquid cartons provide a lightweight, cost-effective and more…

In Hong Kong, the preference for plant-based milk is on the rise, driven by a shift towards healthier and more sustainable dietary choices. Unlike traditional soy milk, deeply rooted in Chinese diets, plant-based milk varieties are gaining popularity…

Plant-based dairy packaging in India is accounted for only by plant-based milk, with sales of other plant-based dairy products insignificant. Smaller pack sizes of plant-based milk, such as 200ml and 236ml, are the most popular, as consumers are…

The continued growth of plant-based milk and its packaging unit volumes can be attributed to a convergence of factors. Rising health consciousness and dietary preferences, along with heightened environmental awareness, are propelling the demand for…

Total plant-based dairy packaging volumes declined in Japan in 2023. Brick liquid cartons also saw a decline in packaging volumes in 2023, but remained the leading pack type for plant-based milk in this year, which is the largest category in…

Brick liquid cartons’ dominance can be attributed to both product functionality and consumer preferences. They offer excellent protection for plant-based milk. The multi-layered structure provides a barrier against light and air exposure, both of…

The solid growth recorded by plant-based milk packaging in 2022, as the largest retail unit volume category within plant-based dairy packaging in Singapore, was attributed to a global shift towards plant-based diets and lifestyles driven by health…

Within plant-based dairy in South Korea, plant-based milk was the only category with notable packaging volumes in 2023, as plant-based yoghurt and cheese are still in their early stages of development. Brick liquid cartons is the preferred pack type…

Plant-based milk has gained traction in Thailand due to a growing awareness of health and environmental concerns. Many Thai consumers are increasingly adopting plant-based diets for various reasons, including lactose intolerance, dietary restrictions…

Earlier in the review period, prior to the pandemic, plant-based milk – the only product in plant-based dairy currently with visible sales – had been seeing strong growth, especially the dominant product type of soy milk, as many Filipinos were…

Although plant-based dairy packaging unit volumes were only stagnating in 2022, this was an improvement in terms of performance following two years of decline during the pandemic. Although plant-based dairy was seeing strong growth prior to the…

Polishes were the weakest performers in home care in 2023, registering a slight fall in constant value sales, and a large decline in volume sales. Increasingly, many types of polish are being replaced by multi-purpose cleaners, with consumers…

Despite the anticipated recovery in commercial activities in 2023, following the easing of COVID-19-related restrictions in China, sales of polishes experienced another year of only moderate value growth, while volume sales declined. This was mainly…

Continuing the long-standing trend, polishes saw a retail volume decline in Hong Kong in 2023, although growth was seen in current value terms. Volume demand for shoe polish continued to decline in Hong Kong in 2023 due to decreasing sales of leather…

In 2023, growth in polishes slowed in retail volume and current value terms compared with 2022, but the category continued its rebound post-pandemic, with retail value sales finally returning to the pre-pandemic (2019) level, even though retail…

Polishes is seeing rather sluggish and static growth, with little activity of note. That said, metal polish continues to grow from its relatively low base, registering a modest uptick in sales. It is noted that, in the post-pandemic landscape, as…

Floor polish is not a standard product for many younger households. It may have been used by older generations, but the custom of polishing the floor with wax products has not been passed down to the younger generations. First, it is very…

Polishes in Kazakhstan continued to fall in 2023 in terms of volume sales growth, and while it saw positive rises in current value terms, the rate was at a more moderate pace than in the previous year of 2022. The range of category goods found on…

Overall polishes maintained growth in retail volume and current value terms in 2023, with increases seen across all categories. However, lifestyle and fashion trends continued to militate against the development of polishes. For instance, younger…

The strong rise in demand for polishes continued in 2023, primarily propelled by the growing middle-class consumer base in the country. The rising consumer base of middle-class households can be attributed to improving disposable incomes and…

Value sales of shoe polish experienced a marginal increase in 2023, attributed in part to the occurrence of more military exercises in Singapore. This uptick can be linked to the specific needs and preferences within the military community, as well…

Shoe polish is the largest category in polishes and faced a weaker performance in 2023 following the strong rebound in sales during 2022. Demand for shoe polish rebounded strongly in 2022, as professionals returning to offices opted for formal attire…

Despite price rises in 2023, polishes continued to record a retail value decline, with retail volume sales falling in all areas. COVID-19 had no noticeable impact on the polishes landscape, with sales declining before the outbreak. The polishes…

Polishes exhibited a dual narrative of retail volume growth across most categories (except floor polish, which dragged down the overall growth rate), and intricate pricing adjustments. The growth rate for polish for columns in particular remained…

Demand for polishes tends to remain limited to wealthier urban households, many of whom employ maids to clean their homes, and are willing to invest in polishes to keep their homes clean and well-maintained. Continuing the trend from the previous…

Polishes is almost entirely supported by shoe polish in Uzbekistan. Shoe polish can be found in most households in Uzbekistan, which is a dusty country. This has been exacerbated in recent years by the mass construction of new buildings, residential…

During 2023, polishes saw an improved performance in both retail volume and current value terms. The category is dominated by shoe polishes, which benefitted from the revival of normal, pre-pandemic lifestyles, including the return of consumers to…