Food retail in the Asia-Pacific region - statistics & facts
Food retail in the Asia-Pacific region is a dynamic and diverse industry encompassing various formats, including supermarkets, hypermarkets, convenience stores, traditional shops, and online platforms. This region is home to some of the world’s largest and fastest fastest-growing economies, resulting in a thriving food retail sector, valued at over four trillion U.S. dollars.
Online grocery shopping in the Asia-Pacific region expanded significantly in recent years. Unlike food takeout and delivery, solely buying groceries online is rare in the Asia-Pacific region. Using a combination of online and offline channels for research and food purchase is more common. Surveys show that China has the highest online food shopping usage rates, with Japan having the lowest.
Fruits and vegetables are a staple in the Asian food market. Accordingly, freshness is the most important purchase criteria for food in most Asian countries. When it comes to Southeast Asian consumers, being halal was of importance for Muslim consumers in Southeast Asia.
Types of retail channels in Asia
Food retail channels in the Asia-Pacific region combine modern and traditional retailers. Supermarkets are the most common food retail channel in Singapore, while traditional grocers are found more commonly in Indonesia. Traditional grocers in Southeast Asia play a crucial role in the region’s culinary heritage and provide a unique shopping experience. These stores offer a wide range of local ingredients, spices, and specialty products. Over half of the grocery retail market in Southeast Asia consists of traditional grocers, up to 90 percent in Vietnam. Traditional food stores can include wet markets, local specialty stores, and street vendors.Online grocery shopping in the Asia-Pacific region expanded significantly in recent years. Unlike food takeout and delivery, solely buying groceries online is rare in the Asia-Pacific region. Using a combination of online and offline channels for research and food purchase is more common. Surveys show that China has the highest online food shopping usage rates, with Japan having the lowest.
Consumer behavior
Consumer spending on food in Asia has been growing steadily, despite the short setback in 2020. The expenditure on food and beverages was forecast to increase across Asia in the future. The per capita consumer spending on food is highest in East Asia. However, Southeast Asian consumers were projected to close the gap with East Asia in terms of per capita spending on food in the next five years.Fruits and vegetables are a staple in the Asian food market. Accordingly, freshness is the most important purchase criteria for food in most Asian countries. When it comes to Southeast Asian consumers, being halal was of importance for Muslim consumers in Southeast Asia.
