Analyst Insight by An Hodgson - Income and Expenditure Manager
A comparison of all consumer markets in terms of their expected consumer expenditure annual real growth in 2014 reveals some interesting fast-growing markets that are not among the usual major emerging markets (such as the BRICS and the MINT). Of the top five fastest growing consumer markets of 2014, Malawi and Sierra Leone are somewhat surprising entrants while Turkmenistan and Saudi Arabia are fast-growing markets with sound fundamentals that can offer significant opportunities for consumer goods companies. Mongolia is also a market with promising prospects, but its small population restricts meaningful market expansion.
Top Five Fastest Growing Consumer Markets: 2014
Source: Euromonitor International from national statistics/Eurostat/UN/OECD
Note: Data are forecasts
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It’s dangerous to group all emerging markets into one convenient basket, even within a region their prospects vary dramatically. Not all are suffering from a slump, but equally not all are dynamic, fast-growing economies. In a time of heightened geopolitical tensions, and with risks to the global economy seeming to increase on a daily basis, the devil is in the detail.
Bright stars include smaller emerging markets such as Turkmenistan, Laos, Rwanda and Cambodia. India is also seeing something of a turnaround with growth expected to come in at 5.4% in 2014 and 6.7% in 2015 supported by an upturn in business confidence following the general election, lower commodity prices and policy reform. Bangladesh and Nigeria are also expected to put in strong performances.
Real GDP Growth in Selected Emerging Markets: 2014-2030
Source: Euromonitor International from national statistics/Eurostat/OECD/UN/IMF
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Event Name: In-Cosmetics Asia
Date: November 4, 2014 – November 6, 2014
Event Description: The leading exhibition & conference in Asia for personal care ingredients
Speaker: Pei Ying Long, Research Analyst
First Presentation: Global Trends In Beauty And Personal Care: Opportunities For The Future
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Analyst Insight by Janaki Padmanabhan - Head of Research (India)
Presenting Euromonitor’s latest findings on the Indian market at the 4th Indian Ice-Cream Congress & Expo 2014, organised by the Indian Ice Cream Manufacturers Association (IICMA), I was struck by the ambition of the industry to develop itself.
This was evident from the key note speech by Member of Parliament, Sri Kirit Somaiya who spoke of a vision to export Indian-made ice cream to the rest of the world in the years to come. This ambition alone embodies the optimism of the industry. While it may be a worthy aim to aspire to, in the medium-term the best opportunities lie in creating greater demand at home.
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Analyst Insight by Thidathip Tawichai - Consumer Appliances Analyst
Vietnam posted the second largest absolute volume growth in Southeast Asia for major appliances after Indonesia, at 1.1 million units from 2008-2013. Leading manufacturers such as Panasonic Corp and LG Corp have increased their production capacities in Vietnam since 2013, to benefit from labour cost advantages, in addition to the geographical benefit of close proximity to key markets such as China, Japan and South Korea. Furthermore, with the coming of the AEC (Asean Economic Community) in 2015, leading manufacturers can use Vietnam as a free trade export hub to neighbouring countries such as Cambodia, Myanmar and Laos.
Top 6 Major Appliances Markets in South East Asia in Volume Growth Terms, 2008-2013
Source: Euromonitor International
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