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.
Owing to a sharp decline in travel due to the pandemic, retail volume and current value sales of luggage in Singapore fell drastically in 2020, by nearly 50%. This was against the backdrop of more than an 85% decline in the number of outbound…
In early 2023, as the South Korean government fully lifted COVID-19-related restrictions and entered the endemic era, international travel fully reopened. As consumer spending has largely shifted to international travel, the growth of bags,…
Bags and luggage with versatile designs and enhanced functionality were in demand. Consumers sought products that could adapt to various situations, such as convertible backpacks, expandable suitcases, or bags with multiple compartments and…
Despite the political and economic uncertainty in Thailand, bags and luggage is set to continue to demonstrate double-digit current value growth in 2023, with the overall category expected to surpass the 2019 pre-pandemic revenue in this year,…
Due to the continual increase in urbanisation in the Philippines leading to the creation of more jobs, opportunities, and economic activity, the younger generation and working population of the Philippines have been rising. As an effect of higher…
China saw its sales of baked goods negatively affected by disruptions to production and distribution as well as consumers’ limited access to retail outlets due to Coronavirus (COVID-19) in 2020, with the Asia Pacific region as a whole therefore…
While current value sales are expected to increase, constant value sales are expected to fall. Rising costs hit profitability, as inflation is still an issue, though the rises in prices is easing. That being said, volume sales are expected to…
Baked goods is set to return to growth in retail volume and current value terms in 2023. In this year, leavened bread, which is the main category within bread, is set to see mid-single-digit retail current value growth in China, mainly driven by the…
Total volume sales of baked goods are expected to rise in Hong Kong in 2023, driven by foodservice. Since the easing of COVID-19 restrictions in late 2022, many consumers in Hong Kong have returned to their normal work-from-office routine. This has…
Baked goods maintained solid retail volume growth and dynamic current value growth in India in 2023. Packaged leavened bread has become a popular go-to option, especially for urban consumers, due to Western influences such as increasing exposure to…
Retail volume sales of overall baked goods saw flat growth in 2023, with average unit prices soaring for the second consecutive year. Several factors contributed to this snowballing of prices: the continued weakening of the IDR amid high import…
Baked goods in Japan is set to continue to see growth in retail current value terms in 2023, largely driven by unit price increases. Although many manufacturers had already implemented price increases several times in 2022, the costs of production…
Baked goods is expected to register double-digit current value growth in 2023, though volume growth is expected to be much more moderate, as inflation still remains an issue. Though there was a decrease in the price of flour, as supplies from Russia…
Baked goods, such as packaged leavened bread, packaged cakes and packaged pastries, are considered essential foods by Malaysians, being typically consumed for breakfast or during tea breaks throughout the day. Packaged baked goods are also widely…
Continuing soaring inflation, including significant price rises for flour, is expected to see current value sales rise significantly, though constant value and volume growth is expected to be much more moderate, though positive, all the same.…
While retail volume sales of baked goods only recorded marginal growth in 2023, the category experienced strong retail current value growth, mainly due to unit price increases. The average unit price of baked goods continued to grow steadily in 2023…
Heightened consumer interest in health continues to be a prominent trend following the pandemic in South Korea. It has played a pivotal role in shaping the current baking trend of reducing sugar and oil content, while emphasising natural fermentation…
The artisanal and premium offer has expanded in baked goods in Taiwan. Taiwanese consumers consumed packaged baked goods when eating at home during the COVID-19 pandemic period. This raised the demand for quality packaged backed goods in the country.…
Baked goods manages to achieve positive growth in both retail value and volume terms, despite the return of foodservice heralding stronger growth in on-trade terms. The resumption of tourism, following the era of pandemic restrictions, is attributed…
Despite continuing inflationary pressures, baked goods saw a solid performance in volume terms in 2023. This was led, to a large extent, by foodservice, which saw double-digit growth for the second consecutive year in 2023, thanks to a return to…