Asia Pacific

Value sales of premium and luxury cars went up by 8% to total TWD194.5 billion in 2023, due to increased demand from high-income consumers, who proved to be steadfast in their purchases despite macroeconomic headwinds. Demand for premium and luxury…

Personal luxury retail value sales rose by 8% in 2023, to total TWD281.3 billion, supporting growth for leading brand providers such as Kering SA and Richemont Asia Pacific Ltd. 2023 sales growth was fuelled by individuals deciding to invest in…

Retail value sales of luxury goods in Taiwan grew by 9% in 2023 in current terms to amount to TWD502.9 billion. Development was still widely defined by a return to more normal consumer behaviour in terms of working, shopping, and spending on luxury…

Despite slower income growth from 2022 to 2027, Singapore will maintain one of the highest per capita income levels in the region. The prevalence of sectors such as finance, tech, healthcare and research are set to continue to sustain higher income…

Myanmar's per capita income is expected to see a modest increase. Middle Youth will continue to shape luxury spending trends. However, income inequality is set to rise to extremely high levels in global terms. Social class A is poised for rapid…

Value sales of fine wines/champagne and spirits grew by 7% to total TWD20.8 billion in 2023, as a result of a consumer desire to have fun and enjoy experiences after the pandemic. Enjoying a drink with friends remains a priority leisure activity,…

Consumer demand has been shifting from manufactured goods back towards services. As a result, value sales of experiential luxury increased by 36% to amount to TWD6.3 billion in 2023, boosted by wealthier individuals resuming normal activity, such as…

Urbanization, longer life expectancy, and a falling birth rate are transforming Thailand's consumer landscape. Millennials and Gen Z are gaining influence, while single-person households surge. Traditional gender roles persist, impacting household…

In 2022, glass jars remained the dominant packaging type for sweet spreads. Jams and preserves dominates sweet spreads packaging in Malaysia, with glass jars the dominant pack type in this category. Meanwhile, despite seeing a decline in packaging…

Following a marginal upturn in retail volume sales of jams and preserves for several years during the pandemic due to home seclusion, demand started to stabilise in 2022 due to greater mobility outside of the home and fewer breakfast or snacking…

In 2022, sauces, dips and condiments packaging saw negligible overall growth. Many pack types saw decline, such as other plastic jars, mainly used for herbs and spices, and others seeing growth, including flexible aluminium/plastic, mainly used for…

Following a surge in demand at the height of the pandemic due to prolonged home seclusion, demand for sauces, dips and condiments, and therefore associated packaging, started to stabilise in 2021 with further volume declines being recorded in 2022…

In 2022, total volumes of processed meat and seafood packaging saw a slight decline, sliding after a couple of years of strong growth over the pandemic years. However, metal food cans witnessed a slight increase in its pack type share, for a few…

Although Japanese consumers were already typically health-conscious, they have now become even more concerned about improving their overall health through their diet, thereby supporting the increasing shift towards meat and seafood substitutes…

In 2022, total packaging volumes of processed fruit and vegetables turned to marginal decline. This was after two years of strong growth during the pandemic, when consumers spent more time at home and cooked more at home and stockpiled food. There…

There was a surge in demand for frozen fruit during the pandemic as they could be stored, thereby reducing the need for consumers to leave their homes to purchase fresh varieties. Despite a notable slowdown in 2022, demand for frozen fruit continued…

Brick liquid cartons was the dominant pack type for plant-based dairy in 2022. However, it lost slight share of overall packaging volumes to metal beverage cans in this year, for a few reasons. When compared with brick liquid cartons, metal beverage…

In 2022, brick liquid cartons remained the leading pack type for plant-based milk, the largest category in plant-based dairy in Japan. On the other hand, shaped liquid cartons remained a small, but growing niche as a packaging alternative. The…

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends, and insights as to how each trend has manifested in…

In 2022, total packaging volumes for meals and soups turned to decline, after two years of solid growth. Metal food cans remained the most significant pack type in 2022, but turned to strong decline in this year, falling out of favour compared with…