Asia Pacific

The Asia Pacific home and garden market, having seen a pan-regional decline in 2020 due to COVID-19, suffered again in 2022, as case numbers surged across China, after the recovery seen in 2021. However, most countries were recording positive growth…

After a year of decline in 2022, home and garden in China witnessed low current value growth in 2023, fuelled by increasing urbanisation, rising disposable incomes, and a growing middle-class with a penchant for home improvement and lifestyle…

Following considerable expansion of 6.4% in 2021, annual real GDP in Hong Kong shrank by 3.5% over 2022. The city's economic environment deteriorated during the year, due to a combination of factors, including a fifth wave of COVID-19 and sluggish…

Home and garden in India demonstrated resilience and growth in current value terms in 2023, buoyed by various factors which drove increased consumer spending on such products. With rising disposable incomes and a surge in real estate investments,…

Home and garden in Indonesia saw stronger sales in 2023 compared to 2022, as the category continues to normalise after the atypical spikes and falls caused by the event of the pandemic. Whilst the periods of lockdown inspired consumers to invest in…

Overall home and garden in Japan saw a slight decline in current value terms in 2023, due to an increase in inflation, which dissuaded some consumers from purchasing such products. However, some categories continued to grow, as consumer confidence in…

Sales of home and garden products remained strong in Malaysia in current value terms in 2023. However, this was primarily due to inflation, which led to higher prices, boosting overall value sales. A surge in home renovation projects, fuelled by…

In 2023, home and garden in Singapore faced a slight slowdown in current value growth due to various factors, including global supply chain disruptions, rising inflation, and weakened foreign demand. These challenges contributed to a deceleration in…

In 2023, home and garden in South Korea saw low current value growth, but faced mixed performances across various categories, influenced by the broader economic landscape and shifting consumer preferences. Real GDP growth slowed in 2023, impacting…

Home and garden in Taiwan saw a stagnant performance in current value terms in 2023, in contrast to the modest growth recorded in the previous year. While the country’s inflation rate was relatively low compared to other markets in the Asia Pacific…

Home and garden in Thailand experienced relatively modest growth in current value terms in 2023, when compared to the previous year. This was attributable to the high cost of living in the country, thanks to the economic fallout of the COVID-19…

The home and garden industry in the Philippines experienced growth in 2023, despite inflationary pressures, as there was an increase in disposable income and higher employment rates. This provided consumers with more spending power, driving demand…

Home audio and cinema in China is experiencing a downturn in 2023, following a temporary respite observed in 2020 during the pandemic lockdowns. The previous pandemic measures prompted financially affluent Chinese consumers to invest in sophisticated…

The reopening of society after the end of the pandemic restrictions means that consumers are returning to out-of-home entertainment and thus have a lesser need for in-home entertainment setups, such as home cinema and audio. Indeed, this has led to…

In 2023, home audio and cinema in India continues to face decline in retail volume terms, due to macroeconomic factors and waning consumer interest in such products. Rising inflationary concerns are dampening demand for home audio and cinema as these…

The driving force behind volume sales in home audio and cinema in Indonesia in 2023 is speakers, as a rising trend towards recreating the cinema experience at home, driven by streaming services, motivates consumers to upgrade their sound systems.…

2023 is set to be another year of volume decline for home audio and cinema. Indeed, sales in the category have been decreasing for over a decade. It is clear that the decrease is due to a structural shift in how consumers engage with music. This has…

Retail sales of home audio and cinema continued to decline in both volume and current value terms in 2023. The category is dominated by hi-fi systems and home cinema and speaker systems, demand for which is being undermined by the growing popularity…

Demand for home audio and cinema continues to slowly decline in 2023, as part of a longer-term trend evident throughout the review period, except for a marginal upturn in retail volume sales of home cinema and speaker systems in 2020 due to pandemic…

Volume sales in home audio and cinema are led by home cinema and speaker systems. In 2023, retail volume sales in this category are set to grow, continuing a trend which was seen throughout the review period. With limited mobility outside of the…