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As the world continues to urbanise rapidly, the share of global population living in cities is projected to reach 64% by 2040, up from 57% in 2023. This growth highlights the need for innovative and sustainable solutions to boost urban liveability, resilience and efficiency. Digital cities, accelerating climate action, and strategic planning are the key trends shaping the cities of tomorrow, vital for enhancing the quality of urban life and offering opportunities for businesses.
Asia Pacific accounts for 32% of the global beauty and personal care market, as of 2023. Within the region, the top four markets – China, Japan, India, and South Korea – each exhibit unique developmental trajectories. However, they also share notable commonalities and trends that can serve as references for each other. Three key trends identified across all four markets for 2024 are value hacking, polarisation, and population change.
Technology breakthrough especially in AI, lifestyle changes after the pandemic, and the rise of Gen Z have been driving Digital Living, Shopper Reinvented and Personalisation in Asia Pacific. Euromonitor has identified these megatrends as the top three influential ones transforming the region’s future towards 2032. Truly engaging, customised and responsible customer relationships and shopping experience should be prioritised by businesses in order to grow.
After tremendous growth in science-backed beauty and personal care following the pandemic, dermocosmetics continues to be a rapidly growing space in South Korea. During Euromonitor’s latest Beauty and Personal Care research, discussions with major players in South Korea revealed some challenges dermocosmetics is facing, which this article will explore and give further projections on the state of dermocosmetics.
Asia Pacific (APAC) tourism continues to flourish following the reopening of borders. Destinations and travel players are greeting the new faces of post-pandemic travellers, shifting attention from driving volume recovery to value creation for a sustainable future.
With global warming and the growing demands of modern life, consumers in Asia Pacific recognise adequate daily hydration as a top health priority. In response, hydration products have grown beyond the traditional categories of packaged water and sports drinks, and have expanded to include sports nutrition and powder concentrates.
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