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September 29, 2014

Asia’s Consumer Markets of the Future


View Sarah Boumphrey's profile on LinkedIn

Bangladesh, Cambodia, Laos, Myanmar and Sri Lanka: five markets home to a combined 253 million people, representing a total consumer market of US$213 billion. These economies represent some of the best potential growth markets for consumer goods companies in the region. Knowledge – of the market, consumers, business environment partners and suppliers – is key to success in these lesser-known and frontier economies. Optimism abounds, but challenges are also apparent.

Between 2014 and 2030 real GDP growth in these economies is expected to average 7.0% per annum – compared to 6.1% in emerging Asia as a whole. Total consumer expenditure will triple in Laos in real terms between 2014 and 2030. In Sri Lanka, per capita consumer expenditure will approach US$6,000 (in 2013 prices) in 2030 – way above the average for emerging Asia and higher than that of established emerging markets in the region such as Indonesia and India.  Consumer market growth in these five economies will be driven by a combination of factors including population growth, urbanisation, prudent fiscal policies, tourism, increasing global trade linkages and natural resources.

Continue reading "Asia’s Consumer Markets of the Future" »

September 28, 2014

Weight Management and the Ageing Population Offer Opportunities in Asia Pacific

Minji KimAnalyst Insight by Minji Kim - Research Analyst

I recently spoke at Vitafoods Asia 2014 where the latest food and beverage product development trends were discussed among industry experts. Topics covered included Asia Pacific’s Muslim community, safety standards and the labelling of functional foods, plus a focus on various ingredients such as monkfruit, an emerging sweetener in Asia Pacific. The world’s ageing population and growing concern over obesity were also in the spotlight during the event.

I gave two presentations titled Consumer Trends in Weight Management in Asia Pacific: Challenges and Opportunities for the Industry and Unique Characteristics of Ageing Consumers and Opportunities for the Food and Beverages Market, which highlighted the key trends and some of the recent product developments within the industry. An overview of these presentations is given below. 

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September 25, 2014

Unilever: Qinyuan Acquisition to Complement Pureit

Hope.LeeAnalyst Insight by Hope Lee - Senior Beverages Analyst

In the first part of this two-part article, I highlighted China’s booming water purification market. In the second part, I will focuses on the strategic reasoning behind Unilever’s Qinyuan acquisition.

Unilever is a household name in China, ranked third in beauty and personal care and home care. The company also has a prominent position in hot drinks and it is present in packaged food. The company has recorded slow sales in ice cream and tea in recent years and is eager to look for new growth opportunities in China. Its acquisition of local water purification company Qinyuan came as a surprise to some local companies as this market is far beyond Unilever’s traditional FMCG heartland. While this move might have created excitement among international investors, it also confused some local players. That said, the psychological impact is significant. Some Chinese companies will be wondering which will be the next multinational to involve itself in similar Chinese operations, and which local companies are likely to be its focus. Ambitious companies such as Haier Strauss Water, Meidi and Angel may start feeling under pressure from Unilever’s Qinyuan acquisition, and considering a counter strategy.

Continue reading "Unilever: Qinyuan Acquisition to Complement Pureit" »

September 24, 2014

China’s Booming Water Purification Market

Hope.LeeAnalyst Insight by Hope Lee - Senior Beverages Analyst

This is the first of part of an article on China’s water purification market and Unilever’s Qinyuan acquisition. China’s level of water pollution has grown in tandem with its rapid industrial revolution and urbanisation. Consumer awareness of water quality and safety, rising living standard and improved levels of income have contributed to the increasing demand for bottled water. Euromonitor International’s data show that China’s bottled water market is worth approximately US$18 billion in 2014, and the country is set to continue to be the growth engine of global bottled water sales in next few years. Simply satisfying 1.4 billion people’s basic needs - safe water and sufficient food - offers abundant business opportunity and challenges.

Nevertheless, the consumer market is changing and the competitive environment is evolving constantly. Euromonitor International’s field analyst commented that sales of bulk water are likely to be affected by the growing adoption of household purification and filtration devices, as evidence shows that a growing number of households are opting for various purification solutions as a replacement for bulk water. Unilever took a swift move in this dynamic market and acquired a local company, Qinyuan, to complement its international brand Pureit in 2014.

Continue reading "China’s Booming Water Purification Market" »

September 21, 2014

Internet Retailing Changing the Packaged Food Landscape

Consumers are shifting a growing portion of their budget to the web. Packaged food has traditionally lagged behind other FMCG products online, but consumer interest in online grocery shopping is growing. Today, the web accounts for 1% of packaged food sales globally. Shelf-stable and high unit price products like baby food and meal replacement perform well online as consumers find it worth their time to shop around for the best price.

Video features Lamine Lahouasnia - Head of Packaged Food Research

September 20, 2014

Media Product Chains Face Challenges in Japan

Brick and mortar media stores have not seen the same rate of decline in Japan that they have seen in other developed markets.  Between 2008-2013, sales in these stores declined only 2% in Japan compared to 8% in North America.  Still, with the increasing digitalisation of media consumption in the youth market, these stores must fight to remain relevant.  Notable new concept stores offer retailtainment or products that can't be downloaded but it remains to be seen whether these stores can broaden their appeal to consumers younger than 50.

Video features Raphael Moreau - Retailing Analyst

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September 19, 2014

Inside India’s High Growth Luxury Market

Fflur_RobertsAnalyst Insight by Fflur Roberts - Head of Luxury Goods

View Fflur Roberts's profile on LinkedIn

India’s luxury goods market has been growing by more than US$255 million a year in absolute terms, on a par with the United Arab Emirates and considerably stronger than Singapore and Australia.

All luxury categories witnessed a big rise in demand with double-digit growth across the whole of the 2008-2013 review period. This was fuelled mainly by a mushrooming urban middle class with a penchant for Western brands.

Growth expectations among the world’s biggest luxury goods manufacturers are highly optimistic. This is a country, after all, where as many as one million young adults are entering the job market every month and it offers a potentially unrivalled demographic dividend.

There are, however, growing signs that the wheels are slowing on India’s hitherto unstoppable luxury goods growth surge. The combined effects of a cooling economy, rising prices and lacklustre job creation are causing middle-income consumers in particular to tighten their belts.

Continue reading "Inside India’s High Growth Luxury Market" »

September 18, 2014

Top 5 Manufacturing Economies: What Challenges Are They Facing?

An HodgsonAnalyst Insight by An Hodgson - Income and Expenditure Manager

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Four of the top five countries in terms of total manufacturing production are developed economies, with the exception of China whose impressive manufacturing might was built upon a pool of low-cost labour. Altogether the top five manufacturing countries accounted for 66.0% of global manufacturing output in 2013. Despite their dominance, each of the top five manufacturing powerhouses is facing a set of unique challenges that could change the future global manufacturing landscape. Understanding the challenges facing these top manufacturing economies can help businesses plan strategically as well as identifying long-term opportunities.

Top 5 Countries in Total Manufacturing Production: 2013

Source: Euromonitor International from national statistics/UN/OECD

Continue reading "Top 5 Manufacturing Economies: What Challenges Are They Facing?" »

September 17, 2014

Businesses in Asia Catering to Halal Tourism

With many Asian governments encouraging inbound tourism from the Middle East, businesses in the region are figuring out ways to attract these consumers. Tour operators are organizing packages around Muslim holidays lead by Muslim guides and including visits to mosques in addition to other notable destinations. Local spas, gyms, hospitals, and restaurants are also building new facilities in accordance with Halal requirements.

Video features Emil Fazira Kamari - Research Analyst

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September 14, 2014

Asia Continues to be a Driving Force in Health and Wellness

Diana.cowlandAnalyst Insight by Diana Cowland - Senior Health and Wellness Analyst

View Diana Cowland's profile on LinkedIn

Healthy food and drink is in demand globally, driven by the many individuals who are becoming more aware of their nutrition intake. Such products – particularly those with a functional positioning – are often more expensive than conventional packaged food and beverages. Despite this, global sales were up 3% over 2012-2013 in constant value terms, to reach an impressive US$749.6 billion in 2013, equivalent to 34% of total beverage and packaged food sales globally.

However, it is the emerging markets that are the global engine of growth in health and wellness (HW). Euromonitor International’s HW data shows that in 2013 of the top 10 fastest-growing countries in HW packaged food and HW beverages five and four of them were in Asia Pacific, respectively. While China (inclusive of Hong Kong) led, partly driven by the incredible demand for fortified/functional milk formula, opportunities do not only lie here. Indonesia, Vietnam, Thailand and India are significant growth markets – albeit from a smaller base – with increasing disposable income levels and rising availability of healthier food and drink. In addition, rising health concerns related to dietary intake are also helping to fuel this demand for health and wellness.

Continue reading "Asia Continues to be a Driving Force in Health and Wellness" »


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Recent Posts

Asia’s Consumer Markets of the Future

Weight Management and the Ageing Population Offer Opportunities in Asia Pacific

Unilever: Qinyuan Acquisition to Complement Pureit

China’s Booming Water Purification Market

Internet Retailing Changing the Packaged Food Landscape

Media Product Chains Face Challenges in Japan

Inside India’s High Growth Luxury Market

Top 5 Manufacturing Economies: What Challenges Are They Facing?

Businesses in Asia Catering to Halal Tourism

Asia Continues to be a Driving Force in Health and Wellness