Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
South Korea experienced a 3.7% inflation rate in September 2023, the highest in five months since April. This increase follows a peak inflation rate of 6.3% in July 2022, which then gradually decreased to 2.3% by July 2023. As the cost of living…
While menswear in Taiwan is poised to record an improved performance in total volume sales terms in 2023, growth has been tempered by changes in consumer behaviour. Demand is now stabilising in the wake of the rapid rebound facilitated by the lifting…
Demand for large cooking appliances continues to experience decline in 2023, resulting from economic instability and a real estate slowdown that has persisted from the previous year. Local consumers are choosing to continue using their existing large…
Sales of juice have been negatively impacted by the impact of inflation on the cost of living and by the gloomy economy with growth through both the on-trade and off-trade channels slowing in volume terms in 2023 as people have been forced to save…
Volume sales of juice saw relatively modest growth in 2023, with demand remaining below pre COVID-19 levels. Juice drinks, the largest product area, came under pressure during the pandemic, when the closure of schools throughout the Philippines…
Jeans has shown another healthy performance in volume terms in 2023, with overall growth set to equal that recorded in 2022. Solid demand is partly explained by the fact that these garments are perennially in fashion and have a broad appeal among…
Vietnam is predicted to see GDP growth of 4.5% by the end of 2023, compared to the initial forecast of 6.5% at the beginning of the year, as per the General Statistical Office study. Soft labour markets and concerns about an impending global…
Despite persisting inflationary pressures, volume sales of hot drinks in the Philippines recorded healthy growth in both retail and foodservice channels in 2023, with improving economic conditions and the greater mobility of Filipino consumers…
In keeping with the pattern witnessed over the latter part of the review period, sheer hosiery in Taiwan is set to contract in volume terms in 2023. Falling demand is partly explained by changing fashion preferences, with many younger women inclined…
Demand for home laundry appliances is growing in 2023 following a marginal dip in retail volume sales the previous year. The category’s performance is mainly attributed to a significant increase in demand for automatic dryers, while retail volume…
Comfort has continued to gain importance as a factor in footwear purchasing decisions in Taiwan in 2023. This is partly explained by rising health-consciousness, a well-established trend that has been strengthened by the pandemic. Similarly, having…
Retail volume sales of food preparation appliances are declining for a second consecutive year in 2023. This is a trend evident across the category, with juice extractors experiencing the steepest decline. This is being driven by several factors, but…
Energy drinks has continued to record positive growth in both off-trade and on-trade volume terms in 2023. Energy drinks are particularly popular amongst younger consumers, who value them for their sweet flavour, as well for their ability to offer a…
2023 proved to be another good year for energy drinks, with volume sales exceeding pre-COVID-19 levels.
Retail volume sales of dishwashers in South Korea are marginally declining in 2023 for a second consecutive year. This can be attributed to subdued consumer sentiment due to economic stability, which is resulting in many South Koreans refraining from…
With Sri Lanka facing its worst economic crisis in 74 years, product shortages and price hikes have recalibrated consumer demand and supply patterns across all categories of cooking ingredients and meals. Manufacturers are struggling due to the…
Retail volume sales of cooking ingredients and meals stabilised in 2023 due to recovery of foodservice, which had declined as a result of the pandemic and the post-coup economic downturn. However, total volume sales declined as prices rose due to…
Retail volume sales of major appliances are declining in 2023, albeit by a slower rate compared to 2022, attributed to inflation and consumers’ constrained budgets. During the pandemic, demand for many consumer appliances experienced an unprecedented…
Although Vietnamese government managed to control inflation in 2023, price hikes and economic challenges nonetheless continued to constrain consumer expenditure. These economic pressures have had a mixed impact on sales of concentrates in 2023. On…
Off-trade volume sales of concentrates continued on their downward trajectory in 2023. Despite being recognised for their value for money, such products faced competition from other ready-to-drink beverages, such as carbonates, juice, and RTD tea.…