Asia Pacific continues to be the world’s largest market for nappies/diapers/pants, with healthy projected growth over the period to 2023, except for expected further contractions in Japan and South Korea. While GPD growth remains one of the key drivers of future growth in the region, soft drivers like promotions, innovation and lifestyle changes will also contribute, creating opportunities for the industry to shape consumption.
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With the exceptions of Japan and South Korea which are contracting, the markets in the region still offer potential for future growth. Combined, the region has an estimated unmet potential of USD24 billion, with China accounting for the lion’s share of this. However, supported by rising incomes, changing lifestyles and product development, markets like India, Vietnam, Thailand and many others continue on a positive trajectory.
The pant format continues to grow across markets in the region, and much of the industry focus has been on this format, as it offers better opportunities for generating higher unit prices and revenue growth. Convenience of use and touted skin benefits (for example no tape on the sides) are typically featured in pant format promotions and marketing.
South Korea and China are the two markets with the largest penetration of e-commerce in nappies/diapers/pants. The channel has seen growth across markets, supported by improving logistics, access to smart technology, retailers’ investments and consumers’ search for competitive prices and a wider product selection. Growth in the channel is moving at different paces across markets, and store-based retailers, including traditional retailers, still have a role to play in many markets in the region.
Fundamentals like GPD growth remain among the key drivers of future growth across markets. However, soft drivers, like consumer lifestyles, product availability and promotions, will also play a significant role in most markets, affording the industry opportunities to shape consumption and drive growth.