Technology breakthrough especially in AI, lifestyle changes after the pandemic, and the rise of Gen Z have been driving Digital Living, Shopper Reinvented and Personalisation in Asia Pacific. Euromonitor has identified these megatrends as the top three influential ones transforming the region’s future towards 2032. Truly engaging, customised and responsible customer relationships and shopping experience should be prioritised by businesses in order to grow.
After tremendous growth in science-backed beauty and personal care following the pandemic, dermocosmetics continues to be a rapidly growing space in South Korea. During Euromonitor’s latest Beauty and Personal Care research, discussions with major players in South Korea revealed some challenges dermocosmetics is facing, which this article will explore and give further projections on the state of dermocosmetics.
Asia Pacific (APAC) tourism continues to flourish following the reopening of borders. Destinations and travel players are greeting the new faces of post-pandemic travellers, shifting attention from driving volume recovery to value creation for a sustainable future.
With global warming and the growing demands of modern life, consumers in Asia Pacific recognise adequate daily hydration as a top health priority. In response, hydration products have grown beyond the traditional categories of packaged water and sports drinks, and have expanded to include sports nutrition and powder concentrates.
Discover the evolving landscape of beauty and personal care in Asia Pacific in our latest video. Skin health, repairing ingredients and efficacy are key concerns for consumers, with dermocosmetics thriving in China.
The Chinese food industry’s sales totalled USD328.7 billion in 2023, a whopping 40% of the Asia Pacific region’s total. This was particularly buoyed by staple foods which in China grew by a 5% CAGR in retail value sales terms between 2018 and 2023. Dairy products and alternatives sales are a contrast, where China is losing share of Asia Pacific’s, albeit gradually: slipping from 52% in 2018 to 48% in 2023.
The Appliances & Electronics World Expo (AWE) is among the top three global exhibitions for home appliances and consumer electronics. The event is held every year in March in Shanghai with this year’s theme being “Smartize the Future”. More than 1,000 brands were showcased at the expo, offering attendees the chance to experience the latest in technological innovation.
Travel finance is an important component, impacting overall customer satisfaction across travel verticals. Analysis in this article focuses on embedded finance in travel intermediaries, lodging, shopping, and food and dining, ranked the top four verticals by market value size in 2023.
Despite slowing growth, EVs are still expected to become more widespread as governments promote sustainable mobility, but this requires financial development throughout the customer journey.