Food, Beverages and Tobacco in Asia Pacific

November 2021

With turnover of USD3,391 billion in 2020, Asia Pacific remained the largest global producer of food, beverages and tobacco. While B2B demand disruptions and declining consumer confidence damaged the industry’s turnover in 2020, a speedy recovery is expected over the short term. Expanding domestic markets, rising productivity and a growing middle class are expected to stimulate food, beverage and tobacco industry revenues over 2020-2030.

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Key Findings

Asia Pacific to continue dominating the global food market in production terms

A vast domestic market, with an expanding population and projected significant economic growth, will reinforce Asia Pacific’s position as the largest food producer in the world. Furthermore, increases in agricultural and food processing productivity and growing middle classes are set to stimulate demand for animal proteins, such as meat, fish and dairy products.

The region’s significant agricultural industry will shape the food processing industry

Grain mill production will remain the largest food processing industry over the forecast period, benefiting from expanding agriculture and harvest yields in the region, and subsequent demand for grain processing. Meanwhile, China is seeing rapidly increasing domestic demand for meat, and the country is set to drive rapid growth in the region’s meat and meat products industry.

Health and wellness trend increasingly important among Asian consumers

Rising incomes are allowing Asian consumers to pay more attention to their nutrition, a trend which was further enhanced by the COVID-19 pandemic outbreak. As a result, sales of bottled water are on the rise across the continent, stimulating the soft drinks industry.

Overall industry concentration remains significant

The food, beverages and tobacco industry in Asia Pacific as a whole is dominated by small companies, although large enterprises generate significant share of total revenues. Beer, coffee, tea, spices, ready meals and dairy industries register the highest revenue concentration among the top producers in many countries.

Asia Pacific remains a significant importer

Asia Pacific’s food exports remain highly focused on lower value added products, such as vegetable oil, fish, coffee, tea and spices. Meanwhile, import demand is concentrated on animal products, given the rising purchasing power in the region.

Introduction

Scope
Key findings

Production Outlook

Asia Pacific to drive global food, beverage and tobacco production
Industry sees rapid recovery in 2021, with rising consumer confidence
Grain milling and fishing to continue to drive the food industry
Bottled water to drive soft drinks growth in Asia Pacific
Growth to be driven by expanding grain mill, meat and fish production
Diversity in food industry’s structure across Asian economies
Soft drinks and spirits dominate beverage production in Asia Pacific

Competitive Landscape

Relatively high industry concentration in Asia Pacific to tighten further
Large players dominate industry turnover in China and Japan

Foreign Trade

Indonesia to continue closing the gap to China in global food exports
Dependency on food imports to continue in most Asian economies

Country Snapshots

Azerbaijan: Production Context
Azerbaijan: Foreign Trade Landscape
Bangladesh : Production Context
Bangladesh : Foreign Trade Landscape
Cambodia : Production Context
Cambodia : Foreign Trade Landscape
China : Production Context
China : Foreign Trade Landscape
Hong Kong, China : Production Context
Hong Kong, China : Foreign Trade Landscape
India : Production Context
India : Foreign Trade Landscape
Indonesia : Production Context
Indonesia : Foreign Trade Landscape
Japan : Production Context
Japan : Foreign Trade Landscape
Kazakhstan : Production Context
Kazakhstan : Foreign Trade Landscape
Malaysia : Production Context
Malaysia : Foreign Trade Landscape
Pakistan : Production Context
Pakistan : Foreign Trade Landscape
Philippines : Production Context
Philippines : Foreign Trade Landscape
Singapore : Production Context
Singapore : Foreign Trade Landscape
South Korea : Production Context
South Korea : Foreign Trade Landscape
Sri Lanka : Production Context
Sri Lanka : Foreign Trade Landscape
Taiwan : Production Context
Taiwan : Foreign Trade Landscape
Thailand : Production Context
Thailand : Foreign Trade Landscape
Uzbekistan : Production Context
Uzbekistan : Foreign Trade Landscape
Vietnam : Production Context
Vietnam : Foreign Trade Landscape
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