Consumer Insights Asia Q1 2017
The 2017 Q1 Asia Consumer Insights is now available with FMCG trends in a variety of categories in the region, covering China, Indonesia, Korea, Taiwan, Vietnam, Malaysia, Thailand, Philippines, India and Saudi Arabia.
- Overall, economy in Asia is showing signs of recovery in the first quarter of 2017, with FMCG growth ticked up to 3.4% from 3.3% last year. The trend of Health & Wellness as well as Convenience continues to drive the markets in Asia.
- Indonesia, Taiwan, India and Vietnam Urban outperformed and posted stronger growth in total FMCG sector – FMCG growth rate at more than 5% in these regions.
- There is a slight increase in value growth in the food category (+0.8%) compared to the same period last year. Convenience food and snack category are growing in Q1.
- Beverage category experienced the lowest growth in Q1, indicating that consumers are rationalizing their spends on this category. More excitement needed on beverages.
- Indonesia registered a strong growth in dairy category and grew at 11.3% from last year. Health and wellness is the key element to drive growth in this category.
- Market in home care sector is stable, with some countries performed flatly in Q1. Consumers are looking for more premium and eco-friendly products.
- Personal care still posted the strongest growth in Q1 – self-pampering and indulgence remained important to consumers.