A new sphere of global influence is evolving, with emerging and developing urban Asia anticipated to become the hotspot for consumption thanks to economic growth, rising incomes, surging consumption and growing digitalisation. However, differences in economic development will bring unique challenges for cities, and this will be a crucial point for businesses to address as part of their future growth strategies in the region’s urban areas.
Emerging Asia – which includes the economies of China, India, Indonesia, Thailand, the Philippines and Vietnam – will continue to be one of the most exciting regions among emerging markets in the next two decades, driven by a favourable demography, strong consumer class expansion, urbanisation, rapid technological adoption and digital transformation.
In the two years since the onset of COVID-19, eating and drinking at home have evolved significantly in Asia Pacific. Recovery remains slow, unpredictable and prone to disruption across markets, making it essential for companies to be prepared and versatile.
While food security has been a long-standing pressure globally, the Coronavirus (COVID-19) pandemic has thrown existing issues into stark focus. Many countries and consumers now consider food security an imperative consideration and priority.
The ongoing situation of COVID-19 has disrupted industries globally. This has resulted in people continuing to remain home, isolated in the Asia Pacific region throughout the year, due to sudden changes in COVID-19 cases. This anxiety has forced countries to limit international travel, slowing down recovery. Personal accessories and eyewear have been directly impacted by this.
PET bottles account for the bulk of soft drinks by volume sales and forecast growth in Southeast Asia. The sheer volume of PET bottles in beverage packaging makes finding sustainable alternatives a key priority among beverage players in Southeast Asia.
Consumers are increasingly sensitive to health claims, particularly when it comes to the diet and health of young children. By analysing pricing trends alongside the prevalence of key product attributes, businesses can identify where the biggest opportunities lie for innovation, product development and ultimately, growth.