kantar-亚洲快速消费品市场概览（英）-2022-26页_1mb

KANTAR ASIA PULSE - FMCG Market Summary (March 2022)

Core Content Overview

This summary outlines the performance of the Fast-Moving Consumer Goods (FMCG) market across various Asian regions during the full year of 2021, with a focus on value growth, key trends, and consumer behavior changes influenced by the ongoing impact of the pandemic.

Key Highlights Across Asia

Chinese Mainland

• Recovery is steady: The FMCG market gradually recovered from the impact of the pandemic, with urban FMCG value sales growing by 3.1% year-on-year in 2021.
• Beverage Market Growth: The food and beverage sector grew by 2.3%, with liquid milk and cheese outperforming other categories. Ice cream and pet food continued to grow, attracting new consumers.
• Ecommerce: Ecommerce remained the fastest-growing retail format, with a growth rate of 15.2%, though the growth slowed due to traffic peaking and shifting to new digital formats.

Taiwan

• Economic Growth: The economy grew by 6.5% in 2021, with a forecast of 4.4% for 2022.
• FMCG Growth: The FMCG market grew at 9.3% in Q4 2021, driven mainly by the food sector.
• Chilled & Frozen Food: Continued strong growth, with double-digit value increases. This trend is expected to persist.
• Ecommerce: Grew at double-digit rates and became the 3rd largest channel, driven by consumer adaptation to online shopping. Food and Personal Care were key growth drivers.

South Korea

• Economic Recovery: Korea's GDP grew by 4.1% in Q4 2021, the highest in 11 years.
• Personal Care Growth: Skincare products saw a surge in value sales due to increased demand for skin recovery.
• Online Mall Growth: Sustained growth due to the convenience and accessibility of online shopping, especially among seniors.

India (Urban)

• Consumption Slowdown: FMCG market experienced a slowdown due to high inflation and macroeconomic factors.
• Value Growth: Continued growth was driven by price increases rather than volume.
• Food & Beverages: Snacking and dairy saw strong growth, while beverages and personal care/household care growth slowed.
• Small Pack Trend: Consumers made more shopping trips but spent less per trip, leading to a shift to small packs.

Saudi Arabia

• FMCG Growth Driven by VAT: Overall FMCG value growth was 3.0%, mainly due to a 6.5% increase in average paid price from the VAT hike.
• Volume Decline: FMCG volume decreased due to fewer shopping trips and smaller baskets.
• Shift to Modern Trade: Consumers increasingly switched to modern trade stores, especially Panda, with a notable increase in promotional spending.

United Arab Emirates

• FMCG Recovery: FMCG spending stabilized at a new level, with a slight decline in 2021.
• Expat Population Decline: Affecting FMCG growth, especially in H1 2021.
• Market Bounce Back: Expected growth in 2022 with increased expat mobility, tourism, and low inflation.

Indonesia

• Economic Recovery: The market was still in recovery, aligned with improved macroeconomic conditions.
• FMCG Growth: Slower than 2020, with a focus on increasing basket size rather than trip frequency.
• Back to Pre-Pandemic Levels: Food sector returned to pre-pandemic levels, while beverages were the most affected.

Malaysia

• Consumer Sentiment Dip: The Consumer Sentiment Index slightly declined to 97.2% in Q4 2021.
• In-Home Consumption: Continued to drive growth, especially in packaged groceries.
• Channel Growth: Online and minimarket channels grew the most due to convenience and increased spend per trip.

Thailand

• Co-Pay Program: A government subsidy program boosted local channels and basket size, with a return in Q3-Q4 2021.
• Multiple Campaigns: 'Pay More, Get More' also contributed to FMCG growth, particularly in Modern Trade.
• Selective Shopping: Consumers continued to buy larger baskets but remained selective in categories and brands.

Philippines

• Economic Stabilization: FMCG spending remained lower than pre-pandemic levels but stabilized.
• Shopping Baskets Trimmed: Consumers reduced shopping trips and prioritized essentials.
• Proximity Channels: Sari-sari stores and groceries saw a strong recovery in spend due to convenience and proximity.

Vietnam

• Fast Economic Recovery: Despite the pandemic's impact, Vietnam's economy recovered quickly, especially in Q4.
• FMCG Slowdown: Growth slowed due to stable volume consumption, but was driven by price increases.
• Convenient Formats: Online and minimarket channels continued to gain consumer preference due to social distancing.

FMCG Value Growth Summary (MAT Q4 2021 vs. Year Ago)

Key Trends Across Asia

• Ecommerce Growth: Dominated growth in many regions, with notable exceptions.
• Shift to Modern Trade: Especially in Taiwan, South Korea, and Saudi Arabia, consumers increasingly preferred modern trade formats.
• In-Home Consumption: Grew significantly in South Korea, India, and Malaysia, with a focus on packaged groceries.
• Government Subsidies: Played a crucial role in boosting local channels and FMCG sales in Thailand and Taiwan.
• Small Pack Trend: Observed in India and Vietnam, where consumers opted for smaller quantities to manage costs.
• Consumer Sentiment: Generally stable or slightly declining in several regions, with concerns over inflation and economic uncertainty.

Conclusion

The FMCG market across Asia showed a mixed performance in 2021, with recovery and growth trends varying by region. While some areas like China, South Korea, and the UAE experienced positive growth, others faced slowdowns due to economic factors, reduced mobility, and changing consumer behavior. Ecommerce and modern trade formats remained strong, but their growth was tempered by inflation and shifting consumer priorities. Government interventions and promotions played a significant role in driving FMCG sales, especially in regions like Thailand and Taiwan. The year 2022 is expected to see a rebound in FMCG spending, particularly in areas with recovering expat populations and increased consumer confidence.