In the two years since the onset of COVID-19, eating and drinking at home have evolved significantly in Asia Pacific. The roads to recovery remain divergent, with some markets on track and laggards shrouded with uncertainty, amplifying the need for companies to be versatile. This report dissects some of these changes and identifies opportunities within various aspects of home kitchens – from food, drinks and appliances to homeware – whilst considering pre-existing cultural nuances.
Asian markets continued to struggle with the pandemic in 2021. Unlike in other regions, where economies have progressively opened, including entertainment and travel, India, Japan and Southeast Asia countries have faced fluctuating lockdown regulations, entering 2022 with a sense of uncertainty. Many will find value in versatile products at home that can suit any occasion.
The choice between spending and saving polarised consumers in 2021, with some continuing to struggle with a lack of income stability and others spending money saved by the absence of travel and out-of-home activities. Affordability remains a core need for price-sensitive consumers, but premium products also attract those who are seeking to make their lives easier.
Localisation remains key to success in Asia, given that consumers at home frequently seek food from their own culture. However, many consumers are also interested in products from foreign cuisines with novel attributes that can save time and offer something new and exciting.
Lack of cooking expertise, especially amongst the younger cohort, along with acceptance of technology as a time-saver, drives innovation in the appliances space. It is an opportune time for companies to partner with food manufacturers and vice versa, in order to complement each other.
Not only is the shortening of preparation steps essential to capture consumers’ attention, but so is reducing clean-up time. This will help motivate consumers to become more involved in food preparation, knowing that enjoyment of food does not come with extensive cleaning up afterwards.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!