By 2040, 16% of the population in Asia Pacific will be aged over 65. Yet, age-specific, non-prescription food which targets this increasingly health-conscious demographic is still limited in Asia Pacific. At the same time, consumers tend to shift away from thinking strength and fitness are key factors of health as they age.
As global cannabis industry leaders gathered at the International Cannabis Business Conference in Berlin in late August our overarching reflection was of an industry that is - if not maturing - entering the end of its beginning as a legitimate mainstream commercial force. Ultimately, the nature and potency of that force will be determined as much by the industry’s collective ability to address consumer needs as by the intricacies of compliance and complexities of operations.
The beverages industry, as with most areas of consumer goods, retail, and our wider society, has experienced the most tumultuous year that anyone can remember. According to Euromonitor International, total volume growth across all channels tracked was down 3% globally in 2020. While this may not sound like a lot, this is a significant figure in an industry where some degree of volume growth continued even during the Great Recession of 2008-2009.
Quick commerce is gaining traction in Western Europe with Euromonitor International counting 30 companies currently competing on the market, most of which established in the past 10 months and is mainly focused on grocery deliveries. With consumers in the region getting accustomed to fast and ultra- fast deliveries, it is important for brands and retailers to understand the trends, operational models and prospects ahead.
Coronavirus (COVID-19) has had a massive impact globally, acting as catalyzer for many disruptive changes, across markets, categories, channels and in determining new trends. Euromonitor has tracked how consumer behaviour has changed following the pandemic and how it has impacted purchases of consumer health products. Though much behaviour and trends that emerged during the pandemic proved near-universal in nature, some surprising outliers or unexpected outcomes can be found at the local level, sometimes determined by cultural habits, beliefs, or simply structural challenges.
By 2040, 80% of all new vehicle registrations in Poland will be electric. Consumer appetite for electric vehicles is being pushed by favourable government policies, growing supply of affordable electric vehicles, and an improving charging infrastructure, among other factors. However, with 1.5% of all new vehicle registrations being electric in 2020, Poland is still far behind major European economies such as Sweden, Norway and Demark in electrifying its vehicle fleet.
The pet food market in China has shown a different pattern during the Coronavirus (COVID-19) pandemic compared to other countries, tending to go against increased pet ownership, and with a growing role for domestic players.