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July 23, 2014

China Overtakes the US as the World's Largest Economy

China is set to overtake the US as the world's largest economy in 2014, with a significant impact on consumers and industries. Learn which industries will be the most effected and why by watching this video and downloading Euromonitor's latest whitepaper.

July 22, 2014

Vita Coco Poised for Success in Asia Pacific under Red Bull China

The Reignwood Group, owner and distributor of Red Bull China, recently purchased a 25 percent stake in Vita Coco with plans to distribute the coconut drink in the country. Although coconut water is not a new product, Red Bull China has vast retail connections, funds for advertisement and sponsorship and the understanding of consumer's growing demand for functional, healthy beverages. Red Bull China has no formal business relationship with Red Bull GMBH but has grown into a US$ 2.5 billion dollar brand in the country. If Vita Coco is promoted similarly, it could surpass sales in the US, which reached nearly US$ 240 million in 2013.

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July 21, 2014

What Next for the BRIC Economies in 2014?

Sarah-B-Banner

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The outlook for the BRIC for the second half of the year is as diverse as the grouping itself. Russia is set to suffer the worst performance of the BRICs, followed by Brazil. All four countries have seen their growth forecasts revised down since January, but for widely differing reasons.

Real GDP Growth Forecasts: 2014

SB1

Source: Euromonitor International from national statistics/Eurostat/OECD/UN/IMF

Continue reading "What Next for the BRIC Economies in 2014?" »

July 19, 2014

China and India – the Most Promising Markets for Accountants and Auditors

Vita KrasodomskyteAnalyst Insight by Vita Krasodomskyte - Industrial Analyst

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Posting double-digit growth rates, the accounting and auditing markets in China and India are creating wide opportunities. Growing economies, dynamic business environments and constantly changing accounting and auditing standards are the main driving forces behind the growth in the reviewed market. Therefore, a number of accounting and auditing companies are opening offices in these countries in order to benefit from such strong expansion.

 

China’s and India’s total GDP grew by nearly 11% and 12%, respectively, in 2013 and is projected to grow at an even faster pace in the future. Such increases are much higher than in developed countries like the US or the UK, where growth is around 3-5%. Strong growth in the economies of China and India is driving the expansion of business activities, not only in local markets, but also internationally, thus impacting on the rising demand for accounting and auditing services.

Figure 1 Accounting and Auditing Market Growth

  accounting comms.png

Source:    Euromonitor International from National Statistics

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July 18, 2014

Boom to Struggle: Changing Prospects of Cognac in China

Jeremy_Cunnington0Analyst Insight by Jeremy Cunnington - Senior Alcoholic Drinks Analyst

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Up until 2013, selling cognac in China was considered to be one of the sure fire ways of generating great revenues and profits. Between 2007-2012 volume sales grew by 119% (14.8 million litres), with retail sales up by 186% (RMB31 billion, US$5 billion). Cognac benefitted from its highly prestigious image in China and the Chinese culture of gift-giving to nurture relationships, especially with government officials and other businesses. Both factors boosted the luxury end of the cognac category.  There seemed little doubt that growth would continue.

 

Problems Taking Time to Appear

Even when, in October 2012, the Chinese president, Xi Jinping, announced a clampdown on government extravagance and corruption, in early 2013, cognac producers and distributors were still optimistic that the category would return to healthy growth and last year’s Euromonitor International’s forecast growth of 15% volume CAGR (27 million litres) and 16% value CAGR (RMB53.5 billion) between 2012-2017 reflected those views. The consensus opinion was that cognac’s strong image and long presence in the country would shield the category from the brunt of any negative effect, unlike the less well-established blended Scotch.

However, the anti-extravagance push has had a more deleterious effect on cognac sales than expected and has substantially curbed “gifting” by business executives offering luxury gifts to officials, who increasingly dare not accept them. Nor has it been helped by a slowing economy and investigations into the links between some on-trade establishments and prostitution. 

Continue reading "Boom to Struggle: Changing Prospects of Cognac in China" »

Euromonitor to Speak at Petfood Forum China

Petfood-Forum-chinaDates: 20-22 August 2014

Location: Shanghai, China

Event Description:  Petfood Forum China 2014 will focus on nutrition, ingredients and formulation, the foundation for all pet food products and for new product development. In this conference, leading industry experts will provide in-depth information on the pet food product and ingredients market and the key ingredients categories for meeting companion animals’ nutritional needs. They will also discuss how to formulate products to satisfy varied and sometimes conflicting requirements (marketing, nutritional and regulatory), as well as how to process pet food to best deliver nutrient and product benefits.

Continue reading "Euromonitor to Speak at Petfood Forum China" »

July 17, 2014

Prospects for Fish Oils and Omega Fatty Acids in China

Mark StrobelWith Mark Strobel, Consumer Health Analyst

China is a promising market for the consumer health industry, with consumer expenditure on health goods and medical services expected to grow by 56 percent between 2013 and 2018. Vitamins and dietary supplements, especially fish oils and omega fatty acids are among the strongest prospects for the country. The average adult in China consumes only one-quarter of the recommended daily intake of DHA and EPA which is found in these supplements.  Although the regulatory infrastructure for dietary supplements in China is notoriously strict, proposals are in place to change the process.

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July 11, 2014

Chinese Acquisitions Abroad: Challenges and the Concept of Globalisation, Part 2

Hope.LeeAnalyst Insight by Hope Lee - Senior Beverages Analyst

Following the initial article highlighting the acceleration of acquisitions by Chinese companies, part two examines the risks and challenges associated with these.

Thinking from a Chinese Point of View

It should be mentioned that the acquisitions of China’s state-owned conglomerates in developed markets have caused some concern among observers and analysts. Understandingly, some deals may be controversial and have led to some debate. Certain proposals have been blocked for various reasons, one being a lack of transparency in the financial documents of Chinese companies. Despite its economic growth, China does not appear to be undertaking any political reform and so state-owned companies will continue to form the backbone of its economy. Hence, naturally some major overseas acquisitions will have to be conducted through these publicly listed state-owned conglomerates. Simply, they are the country’s acquisition vehicles.

When demand in developed markets is noticeably slow and the capacity of Western manufacturers is not being met, it is only practical and wise to look at alternative strategies, such as working with whoever is competent and has the financial muscle to take an existing business forward, regardless of the nationality of the investor. The disquiet about Chinese acquisitions in developed markets may fade once such acquisitions have become more commonplace at global level.

Continue reading "Chinese Acquisitions Abroad: Challenges and the Concept of Globalisation, Part 2" »

July 8, 2014

Mini Appliances a Perfect Fit for Singapore and Hong Kong

Euromonitor International recently reported on the rise of mini or compact appliances in South Korea , and these appliances are a perfect match for other Asian countries, most notably Singapore and Hong Kong. The number of single-person households and households without children in both countries make smaller appliances an attractive alternative to large machines, and many consumers in these countries live in small apartments where space saving is a necessity.

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Strategies for Growth in the Japanese Beer Market

With Hiromi Yamaguchi, Research Analyst

 Beer in Japan has been on a steady decline in volume terms for the past ten years, and beer manufacturers in the country are working against this trend with several strategies. Focusing on the premium beer segment is one successful strategy as Japanese consumers are choosing quality over quantity. Beer manufacturers are also using convenience stores such as 7-Eleven and Lawson as test markets for different promotions and flavors. Finally, the craft beer market in Japan is small but growing, mirroring the expansion of the craft beer market in the US.

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Recent Posts

China Overtakes the US as the World's Largest Economy

Vita Coco Poised for Success in Asia Pacific under Red Bull China

What Next for the BRIC Economies in 2014?

China and India – the Most Promising Markets for Accountants and Auditors

Boom to Struggle: Changing Prospects of Cognac in China

Euromonitor to Speak at Petfood Forum China

Prospects for Fish Oils and Omega Fatty Acids in China

Chinese Acquisitions Abroad: Challenges and the Concept of Globalisation, Part 2

Mini Appliances a Perfect Fit for Singapore and Hong Kong

Strategies for Growth in the Japanese Beer Market