凯度-2021年是亚太地区快速消费品的良好开端（英文）-2021.6-27页_1mb

ASIA PULSE Summary: FMCG Market Trends in Q1 2021

Core Content Overview

This report provides an overview of the FMCG (Fast-Moving Consumer Goods) market performance across Asia in Q1 2021, comparing it with the same period in the previous year and highlighting key trends and consumer behaviors. The analysis includes data from various countries, such as China, Taiwan, South Korea, India (Urban), Indonesia, Malaysia, Thailand, Philippines, Saudi Arabia, and the United Arab Emirates (UAE), with a focus on market growth, channel shifts, and changes in consumer spending habits.

Key Highlights Across Asia

Chinese Mainland

• Fast Recovering Economy: The GDP grew by 18.3% YoY in Q1 2021, with the FMCG market growing by 10.5% YoY, a 3.1% increase compared to Q1 2019.
• Emerging Out-of-Home Market: The out-of-home FMCG market grew by 38.9% YoY, indicating a strong recovery in consumer spending outside the home.
• Channel Importance: The FMCG market in China is dominated by modern trade, with online and supermarket channels gaining traction.

Taiwan

• Economic V-Shape Recovery: Expected to grow by more than 8% between 2021 and 2023, with FMCG growth stable at 2.7% in Q1 2021.
• New Heights for E-commerce: E-commerce became the third highest FMCG value channel, with a 13% increase in spend.
• Cleansing Sustains Growth: Only the household cleansing category showed growth, with a 1% increase in spend, while other categories like home care declined.

South Korea

• Slow Pace of Recovery: GDP growth of 1.8% YoY, with the CCSI recovering to 100 for the first time since January 2020.
• Changes in Shopping Patterns: Increased online and supermarket shopping due to the pandemic, with a shift in consumer behavior towards home-cooking and away from cosmetics.
• Channel Shifts: Supermarkets and online channels saw growth, while hypermarkets declined.

India (Urban)

• Down-Tracking: Estimated GDP decline of -7.5% for FY 20-21, but FMCG spending increased due to in-home consumption.
• Positive Performance: Food and dairy showed strong growth, with consumers prioritizing these categories.
• Changing Shopper Behavior: FMCG companies offered larger packs to meet increased spending per trip.

Indonesia

• Signs of Recovery: Despite a contracting GDP, household consumption is recovering alongside increased consumer confidence and mobility.
• Rationalised Spending: Consumers are making fewer trips but buying in larger quantities.
• Spotlight on Online: The online market is growing and is expected to play a more significant role in the future.

Malaysia

• Improved Sentiments: The Consumer Sentiment Index reached 98.9% in Q1 2021.
• Increased In-Home Occasions: FMCG growth was driven by more in-home consumption.
• Changing Channel Landscape: Online and supermarkets saw growth, while hypermarkets and wholesale declined.

Thailand

• Government Subsidy: The government introduced subsidy programs, leading to a 2.9% growth in the take-home FMCG market.
• Channel Shift: Shoppers moved to provision stores and local supermarkets/CVS, reducing the share of hypermarkets.
• Selective Shopping: Consumers are buying larger baskets and being more selective in their purchases.

Philippines

• Challenged Economy: The longest recession in over 20 years, with continued GDP contraction.
• Cautious Spending: In-home FMCG spending reduced, but the food sector remained resilient.
• Omnishoppers: As quarantine eased, consumers returned to multiple channels, including traditional stores.

Saudi Arabia

• The Surge in FMCG: Spending increased due to the pandemic and VAT, but with a focus on lower volumes to manage budgets.
• Differences in Consumer Behavior: Locals and affluent families increased spending, while expats and less affluent households reduced their basket sizes.
• Proximity Matters: Lower trade channels maintained their market share due to larger basket sizes.

United Arab Emirates

• FMCGBasket Shrunk: Both spend and volume in the FMCG market decreased.
• Shop Less Often: Fewer shopping trips were recorded, but this did not offset the decline in spend.
• Cutting Spend: Most retailers saw a drop in spend, with LuLu being an exception.

FMCG Growth by Category

Key Trends and Insights

• Market Recovery: Chinese Mainland, Taiwan, and South Korea showed strong FMCG market recovery, while the Philippines and Vietnam (Rural) experienced slower growth.
• E-commerce Growth: E-commerce is becoming a significant channel in several markets, especially in China, Taiwan, and Malaysia.
• Consumer Behavior Shifts: There is a noticeable trend of fewer shopping trips with larger basket sizes, and a preference for in-home consumption.
• Hygiene and Health Focus: Increased spending on home care and personal care, driven by the pandemic, is evident in many regions.
• Regional Variations: The impact of the pandemic varied across regions, with some experiencing more resilience in certain categories than others.

Conclusion

The FMCG market across Asia showed a mixed performance in Q1 2021, with some regions recovering strongly while others faced continued economic challenges. The shift towards online shopping and in-home consumption, along with the rationalisation of spending, emerged as key trends. The report highlights the importance of understanding local consumer behaviors and adapting to changing market dynamics to sustain growth.