2021-05-31-凯度-Asia_s_FMCG_Market_at_a_Glance_27页_1mb

Asia FMCG Market Summary (Q1 2021)

Core Content Overview

This report provides an overview of the Fast-Moving Consumer Goods (FMCG) market performance across different regions in Asia during the first quarter of 2021, highlighting key trends, growth rates, and shifts in consumer behavior influenced by the ongoing pandemic.

Key Highlights Across Asia

Chinese Mainland

• Fast Recovering Economy: The GDP growth for Q1 2021 was 18.3% year-on-year, indicating a strong economic recovery.
• Strong Growth in FMCG Market: The FMCG market grew by 10.5% year-on-year, a 3.1% increase compared to the same period in 2019.
• Emerging Out-of-Home Market: The out-of-home FMCG market grew by 38.9% year-on-year, showing a strong recovery in consumer spending outside the home.
• Channel Importance: Online and traditional channels are both gaining traction, with a shift in shopping behavior towards convenience and larger basket sizes.
• Shopping Occasions: Increased in-home consumption and changes in shopping occasions are notable trends.

Taiwan

• Economic V-Shape Recovery: The GDP is forecast to grow more than 8% between 2021 and 2023, the highest in a decade.
• New Heights for Ecommerce: Ecommerce became the third-largest channel for FMCG value share, with a 13% growth in spend.
• Cleansing Sustains Growth: The household cleansing category saw a 1% increase in spend, while other categories faced challenges.
• Channel Importance: Ecommerce and modern trade are growing, with traditional channels seeing a decline.
• Shopping Occasions: Shift in consumer behavior towards fewer shopping trips and more selective purchasing.

South Korea

• Slow Pace of Recovery: The economy grew by 1.8% year-on-year, with the CCSI slowly recovering.
• Changes in Shopping Patterns: Consumers are buying more from nearby supermarkets and online, while some prefer bulk purchases at club hypermarkets.
• Shift in Consumer Needs: Increased spending on home-cooking categories, with a decline in cosmetics due to reduced makeup usage.
• Channel Importance: Supermarkets and online channels are gaining importance.
• Shopping Occasions: In-home occasions are driving growth in the FMCG market.

India (Urban)

• Down-Training: Estimated GDP decline of -7.5% for FY 20-21 due to the impact of the pandemic.
• Positive Performance: Food and dairy showed strong growth, driven by in-home consumption and hygiene concerns.
• Changing Shopper Behaviour: FMCG companies increased pack sizes to reduce the number of shopping trips.
• Channel Importance: Modern trade and online channels are seeing growth.
• Shopping Occasions: Increased in-home occasions are boosting FMCG sales.

Saudi Arabia

• The Surge in FMCG: Increased spending due to the pandemic and VAT, but with a focus on reducing volume to balance budgets.
• Differences in Consumer Behaviours: Local and affluent consumers are buying more, while expats and less affluent ones are purchasing smaller baskets.
• Proximity Matters: Lower trade channels maintained their position due to larger basket sizes, indicating that proximity is a key factor.
• Channel Importance: Modern trade and online channels are growing, with traditional channels experiencing a decline.
• Shopping Occasions: Shift to in-home consumption and larger basket sizes.

United Arab Emirates

• FMCGBasketShrunk: Overall FMCG basket saw a decline in both spend and volume due to budget balancing.
• Shop Less Often: Fewer shopping trips are a common trend, with no significant compensation through larger baskets.
• Cutting Spend: Most retailers saw a drop in spend, except LuLu.
• Channel Importance: Online and supermarkets are the main channels, with modern trade gaining market share.
• Shopping Occasions: Increased in-home consumption and reduced shopping trips.

Indonesia

• Signs of Recovery: GDP contraction continued, but household consumption is recovering with increased consumer confidence and mobility.
• Rationalised Spending: Consumers are buying in larger quantities and fewer trips to manage budgets.
• Spotlight on Online: The online market is growing and is expected to continue in line with other Southeast Asian markets.
• Channel Importance: Online and traditional channels are gaining traction.
• Shopping Occasions: Rationalised shopping behavior with a focus on in-home consumption.

Malaysia

• Sentiments Improved: The Consumer Sentiment Index improved to 98.9%, but price concerns persist.
• Increased In-Home Occasions: FMCG growth is driven by more in-home consumption.
• Changing Channel Landscape: Online and supermarkets are the biggest winners, with online gaining from increased trips and penetration.
• Channel Importance: Modern trade and online channels are growing, while traditional channels are declining.
• Shopping Occasions: Increased in-home occasions and reduced shopping trips.

Thailand

• Government Subsidy: Various subsidy programs are encouraging spending, leading to a 2.9% growth in the take-home FMCG market.
• Channel Shift: Shoppers are moving to provision stores and local supermarkets, leading to a decline in hypermarkets.
• Selective & Stock Up: Consumers are selective and buying larger quantities, making it harder for retailers and brands to win baskets.
• Channel Importance: Local stores and supermarkets are gaining importance.
• Shopping Occasions: Increased in-home occasions and reduced shopping trips.

Philippines

• Challenged Economy: The Philippines experienced its longest recession in over 20 years, with continued GDP contraction.
• Cautious Spending: In-home FMCG spending is decreasing, but the food sector remains resilient.
• Omnishoppers: With eased quarantine, consumers are accessing more channels, and traditional stores are reviving.
• Channel Importance: Online and traditional channels are growing.
• Shopping Occasions: Increased in-home consumption and more channel access.

Vietnam

• Economic Overview: Economic growth improved, along with consumer confidence.
• Slight Decline in FMCG: A slight decline in Q1 2021 compared to Q1 2020, but still shows strong growth compared to 2019.
• Online Booming: Online channels are increasing their share of retail value in both urban and rural areas.
• Channel Importance: Online and traditional channels are growing.
• Shopping Occasions: Increased in-home occasions and reduced shopping trips.

Summary Table: FMCG Growth (Q1 2021 vs. Year Ago)

Conclusion

The FMCG market across Asia showed varied performance in Q1 2021. While some regions like Chinese Mainland and India (Urban) saw strong growth, others like South Korea and Vietnam (Rural) experienced declines. The pandemic significantly influenced consumer behavior, leading to increased in-home consumption, rationalised spending, and a shift towards online and modern trade channels. Government subsidies, changes in shopping habits, and the impact of economic conditions played key roles in shaping the market dynamics.