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Megatrends
Shifting Market Frontiers: Asian Century
44 pages, Dec 2017
US$1,325Added to Cart
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About This Report
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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
The Asian market is as important as ever. Half of global growth in consumer expenditure will originate in the region in the coming years. As a result, Asia Pacific will attract growing attention from global companies, for many of which Asia will become the key market. However, it is a market that is full of challenges - consumers are diverse, competition from local players is increasing and distribution channels are underdeveloped.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Asia Pacific to take hold of the world’s consumer market growth
Asia already accounts for over half of the global population, but less than a third of consumer expenditure. Given the vast potential in terms of income growth, Asia is set to become the backbone of consumer markets with an expected 50% of global consumer expenditure coming from Asia by 2050.
Consumers are diverse but usually collective minded and connected
Asian consumers are extremely diverse, however key traits that unite the majority of Asian consumers are collective mindedness and strong emphasis on tradition as well as high level of internet usage. As of 2017, Asia Pacific is home to 50% of global internet users.
Half of global growth in consumer goods from Asia Pacific
Asia will remain the key driver for consumer industries over 2017-2022. Consumer electronics and personal accessories will see close to 100% of absolute value growth coming from the region while some of the more saturated industries such as tobacco, soft and hot drinks will see 20-40% of value growth coming from Asia. In between, industries such as beauty, apparel and packaged food lie, all of which will derive around 50% of future growth from Asia.
Asian businesses starting to add to global competition
Asian companies across industries are increasingly visible and prominent due to stronger focus on quality, innovation and specific client needs. This means their Western counterparts will start facing increased competition from domestic players not only in Asia Pacific, but also in their mature home markets.
Asia Pacific to drive global luxury goods demand
The consistently rising income levels and increasing number of high-income households will facilitate strong growth in luxury goods in Asia Pacific. Asia is already the biggest and most lucrative luxury goods market and will become even more important in the coming five years due to the rising trend of premiumisation.
Want to find out more about this report?
Request more informationTable of Contents
Introduction
Scope
Key findings
Megatrend analysis
“Shifting Market Frontiers” is one of our eight focus megatrends
Asian Century: the key trend in shifting market frontiers
Challenges and opportunities
Socioeconomic Significance of Asian Century
Asian century : key milestones
Asia to become backbone of global economy
Asia’s population growth to decelerate; median age to increase
Asian consumer powered by growing disposable income
China home to 60% of Asia’s top income population by 2030
Asia to outpace global growth in luxury goods
Asian Consumer Types
Asian consumers: who are they?
China: secure traditionalists dominate
Japan: exclusively high dominance of balanced optimists
India: conservative homebodies taking the lead
Indonesia: largest share of impulsive spenders globally
Euromonitor International global consumer types 2017
Asian Century Across Industries
Asia Pacific to drive majority of consumer markets
Packaged food : growth remains high, but competition intensifies
Packaged food: over half of global growth in Asia Pacific
Nutricia : rebranding and attention to distribution lead to success
Frisian flag Indonesia PT: responding to client needs guarantees success
Toly : gaining trust through short-term products
Beauty and personal care: Asia Pacific remains top growth area
Beauty and personal care: customised products to lead growth
AmorePacific: focus on digitisation to increase brand visibility
L’Oréal: digital platforms help boost luxury brand sales in China
Apparel and footwear: smaller categories to drive growth
Apparel and footwear : varied growth in categories
adidas: investing in e-commerce to accelerate Asian sales
Heilan home : successfully changing its traditionalist image
Consumer electronics: undisputed Asian dominance globally
Asian Century across Industries
Consumer electronics: Asian companies grow global muscles
Lenovo: most dynamic in Western countries
Xiaomi: global dominance in wearable electronics
Conclusion
Asian Century: what to focus on
Leverage the power of megatrends to shape your strategy today
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Want to find out more about this report?
Request more informationComplete Catalogue
Megatrends
- Changing Values As a Megatrend Driver | Apr 2018
- Connected Consumers | Aug 2017
- Connected Consumers in Asia Pacific: Mobile-centric Mindset Permeates all Aspects of Life | Jun 2018
- Connected Consumers: “Can do” Versus “Should do” Thinking | Dec 2017
- Connected Consumers: Future Mobility, Home and City | Mar 2018
- Ethical Living | Aug 2017
- Ethical Living in Western Europe: Advancing to a Circular Economy | Jun 2018
- Ethical Living: Mindful Consumerism | Nov 2017
- Ethical Living: Plastic - Lose It or Re-Use It? | Mar 2018
- Experience More | Aug 2017
- Experience More Across the Customer Journey | Dec 2017
- Experience More in Asia Pacific: How Brands are Delivering an Enhanced Experience | Jun 2018
- Experience More: Digital Toolkit | Mar 2018
- Experience More: In the Moment | Jun 2018
- Healthy Living | Aug 2017
- Healthy Living in Latin America: Evolving Consumer and Business Landscape | Jun 2018
- Healthy Living: Home As Health Hub | Mar 2018
- Healthy Living: The New Face of Healthy Ageing | Dec 2017
- Middle Class Retreat | Aug 2017
- Middle Class Retreat in North America: Where do Opportunities Lie? | Jun 2018
- Middle Class Retreat: Fickle Consumers | Dec 2017
- Middle Class Retreat: Trading Up, Trading Down | Mar 2018
- Population Change as a Megatrend Driver | Feb 2018
- Premiumisation | Aug 2017
- Premiumisation in Asia Pacific: Tracking a New Affluent Class | Jun 2018
- Premiumisation: Past, Present and Future | Mar 2018
- Premiumisation: Why Foodservice Matters to Every Industry | Dec 2017
- Shifting Economic Power as a Megatrend Driver | May 2018
- Shifting Market Frontiers | Aug 2017
- Shifting Market Frontiers in China: Mid-sized Cities Boom | Jun 2018
- Shifting Market Frontiers: Africa Rising | Mar 2018
- Shopping Reinvented | Aug 2017
- Shopping Reinvented in Latin America: Evolving Expectations and Opportunities | Jun 2018
- Shopping Reinvented: Empathy and the Key to a Superior Shopper Journey | Dec 2017
- Shopping Reinvented: Mobile App Features that Drive Discovery, Engagement and Sales | Mar 2018
- Technology as a Megatrend Driver | Jan 2018
Complete Catalogue
Megatrends
- Changing Values As a Megatrend Driver | Apr 2018
- Connected Consumers | Aug 2017
- Connected Consumers in Asia Pacific: Mobile-centric Mindset Permeates all Aspects of Life | Jun 2018
- Connected Consumers: “Can do” Versus “Should do” Thinking | Dec 2017
- Connected Consumers: Future Mobility, Home and City | Mar 2018
- Ethical Living | Aug 2017
- Ethical Living in Western Europe: Advancing to a Circular Economy | Jun 2018
- Ethical Living: Mindful Consumerism | Nov 2017
- Ethical Living: Plastic - Lose It or Re-Use It? | Mar 2018
- Experience More | Aug 2017
- Experience More Across the Customer Journey | Dec 2017
- Experience More in Asia Pacific: How Brands are Delivering an Enhanced Experience | Jun 2018
- Experience More: Digital Toolkit | Mar 2018
- Experience More: In the Moment | Jun 2018
- Healthy Living | Aug 2017
- Healthy Living in Latin America: Evolving Consumer and Business Landscape | Jun 2018
- Healthy Living: Home As Health Hub | Mar 2018
- Healthy Living: The New Face of Healthy Ageing | Dec 2017
- Middle Class Retreat | Aug 2017
- Middle Class Retreat in North America: Where do Opportunities Lie? | Jun 2018
- Middle Class Retreat: Fickle Consumers | Dec 2017
- Middle Class Retreat: Trading Up, Trading Down | Mar 2018
- Population Change as a Megatrend Driver | Feb 2018
- Premiumisation | Aug 2017
- Premiumisation in Asia Pacific: Tracking a New Affluent Class | Jun 2018
- Premiumisation: Past, Present and Future | Mar 2018
- Premiumisation: Why Foodservice Matters to Every Industry | Dec 2017
- Shifting Economic Power as a Megatrend Driver | May 2018
- Shifting Market Frontiers | Aug 2017
- Shifting Market Frontiers in China: Mid-sized Cities Boom | Jun 2018
- Shifting Market Frontiers: Africa Rising | Mar 2018
- Shopping Reinvented | Aug 2017
- Shopping Reinvented in Latin America: Evolving Expectations and Opportunities | Jun 2018
- Shopping Reinvented: Empathy and the Key to a Superior Shopper Journey | Dec 2017
- Shopping Reinvented: Mobile App Features that Drive Discovery, Engagement and Sales | Mar 2018
- Technology as a Megatrend Driver | Jan 2018