Asia Consumer Insights Q4 2017
2017 Q4 Asia Consumer Insights report 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.
Summary key takeaways:
- Overall, FMCG in Asia enjoys a stronger growth of 3.9% in 2017, compared to 3.2% in 2016.
- Food sector remains the key contributor to the total value sales in FMCG market, grew by 3.6% in 2017 from a year ago.
- Personal care is the best performing sector, with 7.8% year-on-year growth in 2017. The desire to look beautiful and young continues to drive the demand in this sector.
- Consumers’ living standard and awareness of health are factors to keep stable growth of 3.4% in home care sector.
- Growth in Dairy sector has slowed down to 2.6% in 2017 from 4.5% in 2016. Marketing initiatives done by top ice-cream companies leads to excellent growth in India.
- Beverage sector posted a higher year-on-year growth in 2017, 1.3% as compared to 0.1% in 2016. Packaged water, tea and coffee are the growing categories.
- In the Philippines, though slower compared to previous year, the economy grew faster at 6.7% than projected in 2017. Households are prioritizing family's health and giving value to their children's growth as seen in the rise of milk, dairy products, and baby food.
*South region in Saudi Arabia is still excluded from this Q4 report as efforts are ongoing to resume data collection.