The fast-moving consumer goods (FMCG) sector in the Asia-Pacific region is a massive market encompassing food, beverages, personal and home care, and more. Food and beverages are the
and the largest segment of the FMCG sector. The food market in APAC has been growing steadily for the past few years., Meanwhile, the beverage sector took a hit during the pandemic but has now recovered. Home and personal care segments are also expanding, but the growth rates have slowed in the past year.
The FMCG market fluctuates depending on various socio-economic factors. Many Asia-Pacific economies, such as India, Indonesia, China, and South Korea, have experienced continued growth. Other economies, such as Hong Kong and Myanmar, are seeing declines in
year-over-year value growth of the FMCG market, possibly due to the resurgence of COVID-19 and the respective political situations.
Leading brands and products
Many global brands have a considerable market share in the Asia-Pacific region. Coca-Cola has made it into the top 10 brands with the highest penetration rates in Vietnam, the Philippines, Thailand, and Japan. PepsiCo’s revenue in the Asia-Pacific region has also been increasing in the past few years. Dairy brands, like Yili and Mengniu, were
leading in FMCG penetration rates in China. Instant noodles are a highly-popular product category in the Asia-Pacific region. Each country has their own favorite brands – Master Kong in China, Nissin in Japan, Ottogi in South Korea, and Indomie in Indonesia. Fruits and vegetables were also the most consumed groceries in the Asia-Pacific region. Among Southeast Asian consumers, the most purchased snacks were fruits and potato chips. Aside from personal hygiene products,
the usage of skincare across the Asia-Pacific region is high. A 70 percent or higher share of survey respondents in Hong Kong, the Philippines, and South Korea reported using skincare products.
International trade
The Asia-Pacific region is a major player in the production and trade of consumer goods. The region produces and
exports the highest value of rice, India being the top exporter. The top exporter and importer of tea are also Asia-Pacific economies, China and Pakistan, respectively. New Zealand is the world’s largest exporter of milk, while Australia exports the second-highest volume of beef in the world. The consumption of personal care products is also relatively high in the Asia-Pacific region.
South Korea has become the second largest beauty exporter after France. Many Asia-Pacific markets also import significant volumes of various product categories, including alcoholic beverages such as beer and wine.
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