2023-12-31-Kantar-亚洲FMCG市场概览（英）_23页_1mb

Asia-Pacific FMCG Market Summary - Q3 2023

Overview

• The Asia-Pacific FMCG market showed continued shifts in consumer behavior amid slower economic growth, marking a distinct phase in the post-inflation landscape. Growth was slight, with total FMCG value decreasing by less than 0.5% year-over-year in some regions, driven by inflationary pressures easing but demand remaining cautious.

Category Performance

• Food: Performance mixed, with declines in key markets like China (-4% YoY), but steady growth in others due to stockpiling and category-specific demand, such as milk food drinks and breakfast cereals in India.
• Beverages: Notable growth across regions, often led by innovations and brand strategies aligning with consumer preferences, supporting overall market resilience.
• Dairy, Home Care, Personal Care: Showed robust growth, particularly in non-food segments, attributed to increased consumer focus on health, hygiene, and personal care products.

Channel Insights

• E-commerce maintained strong double-digit growth, driven by convenience in markets like China, Taiwan, and South Korea, reflecting rising digitalization and post-pandemic shopping trends.
• Traditional channels like supermarkets and pharmacies experienced varying changes, with some showing declines in value but stable or growing shopping occasions, emphasizing the need for diversified retail strategies.

Country-Specific Highlights

• China: FMCG market dipped slightly, with food sales declining; top retailers consolidated share, while e-commerce expanded.
• Taiwan: Slow FMCG growth boosted by non-food categories; e-commerce surged, maintaining high double-digit value growth.
• India (Urban): Value growth accelerated due to inflation, with beverages leading growth; e-commerce expanded, enhancing purchase occasions.
• South Korea: Consumer confidence weakened, but online channels thrived, offering value-driven alternatives amid economic uncertainty.
• UAE: Non-oil sectors drove economic expansion; shoppers remained frugal, prompting retail innovators to adapt to consumer behavior shifts.
• Indonesia: Inflation concerns fostered in-home purchases; value growth from key sectors like food and beverages supported by price increases.
• Malaysia: High inflation influenced cautious consumer spending; non-food items saw elevated sales, with mini-markets and online channels gaining prominence.
• Thailand: Convenience stores (CVS), especially 7-Eleven, proved effective; out-of-home activities increased, but take-home groceries shrank due to reduced demand.
• Philippines: Spending remained cautious amid inflation; proximity and traditional channels held importance, with no major growth catalysts.
• Vietnam: Urban and rural markets responded positively with options expanding; non-food sectors showed growth potential.

Conclusion

• In a period of subdued growth, brands must prioritize digitalization, adaptive strategies, and consumer-centric innovations to navigate fragmented retail landscapes and capitalize on emerging opportunities within the Asia-Pacific FMCG industry.