Worldpanel by Kantar

DATA PERIOD:
MAT Q3 2024
MARKETS:
Chinese Mainland | Indonesia | South Korea | Malaysia |
Philippines | Thailand | Taiwan | Vietnam | India | UAE
Welcome to Asia Pulse

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Q3 2024 | Summary Asia OVERVIEW

% Value Change FMCG – MAT Q3 2024 vs. Year Ago Growth ≤ -0.5% -0.5% < Growth ≤ 5% Growth > 5%

Asia North Asia West & South Asia Southeast Asia

Chinese India Malaysia Vietnam Vietnam
Total Taiwan South Korea UAE Indonesia Thailand Philippines
Mainland (Urban) (Peninsular) (Urban) (Rural)

FMCG Total 3.4 2.5 5.7 8.4 5.0 -2.4 6.1 3.0 -4.0 7.5 -1.9 2.0

Food 3.3 2.6 8.2 8.3 1.4 -3.5 6.1 4.7 -1.9 5.9 -0.2 0.2

Beverages 8.9 11.9 5.9 2.8 8.4 -0.8 10.6 2.0 -8.2 11.5 -5.5 1.1

Dairy 0.9 -0.1 -2.1 7.4 11.6 1.8 4.3 -5.3 -4.4 6.0 -2.6 2.8

Home Care 5.4 5.1 2.7 9.8 12.5 0.6 3.9 -0.6 -5.0 10.9 -0.1 1.3

Personal
Care 0.5 -2.6 5.6 11.9 8.9 -8.9 4.9 7.0 -2.9 5.8 0.4 7.1

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FMCG Growth in Asia: YOY OVERVIEW

Asia/MAT Q3 2024 – Value Spend Growth vs YA Q3 2023 Q3 2024

8.9
7.3
5.4
3.4 3.2 3.3 3.5
2.0
0.9 0.5

-1.1
-1.6

FMCG Food Beverages Dairy Home Care Personal Care

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FMCG Growth in Asia: YOY OVERVIEW

Asia/MAT Q3 2024 – Value Spend Growth vs YA Q3 2023 Q3 2024

10.9
6.1 5.3
3.3 3.6
1.2 1.5 0.3
North Asia
-0.4 -0.9
-3.8 -4.4

17.1 16.3
14.2 14.0
10.8 11.6
7.0 7.4
West & South 4.2 6.1 4.7
Asia 1.0

9.2
6.5 6.9
5.4 5.4 4.6 4.8
Southeast Asia 3.5 3.9
2.6 3.1
2.3

FMCG Food Beverages Dairy Home Care Personal Care

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FMCG
Asia/MAT Q3 2024 – % Value Growth vs YA Q3 2023 Q3 2024

15.6
FMCG 2.4
8.9 8.4
5.7 5.0 4.3
2.5 1.7
0

-1.5 -2.4
Chinese Mainland Taiwan South Korea India (Urban) United Arab Emirates United Arab
Emirates

12.5 12.5
3.4 10.2
2.0 6.1 7.5
2.6 2.0 3.0 2.0

-0.4 -1.9
-4.0

Asia Indonesia Malaysia (Peninsular) Thailand Philippines Vietnam (Urban 4) Vietnam (Rural)

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Food
Asia/MAT Q3 2024 – % Value Growth vs YA Q3 2023 Q3 2024

Food 10.5
14.7
8.2 8.3 6.9
2.6 1.1 1.4 3.7
0.0

-0.1
-3.5

Chinese Mainland Taiwan South Korea India (Urban) United Arab Emirates United Arab
Emirates

13.7
3.2 3.3
6.1 5.9
4.7 4.1 4.4
1.0 1.5
0.2

-0.2
-2.3 -1.9

Asia Indonesia Malaysia (Peninsular) Thailand Philippines Vietnam (Urban 4) Vietnam (Rural)

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Beverages
Asia/MAT Q3 2024 – % Value Growth vs YA Q3 2023 Q3 2024

Beverages 12.4
11.9
8.4
5.9
3.2 2.8 2.6
1.4
0.0 0.0

-0.8
-5.8

Chinese Mainland Taiwan South Korea India (Urban) United Arab Emirates United Arab
Emirates
8.9

15.2 14.5
12.7
3.5 10.6 11.5

4.4 4.3
2.0 1.1

-0.4
-8.2
-5.5

Asia Indonesia Malaysia (Peninsular) Thailand Philippines Vietnam (Urban 4) Vietnam (Rural)

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Dairy
Asia/MAT Q3 2024 – % Value Growth vs YA Q3 2023 Q3 2024

11.6
Dairy 7.3 7.4
9.2
4.8
1.8
0.0 0.0

-0.1
-2.1
-4.6 -3.7

Chinese Mainland Taiwan South Korea India (Urban) United Arab Emirates United Arab
Emirates

18.1

9.2 9.0
0.9 6.0
4.3 2.8

-0.6
-1.6 -2.0
-3.9 -5.3 -2.6
-4.4

Asia Indonesia Malaysia (Peninsular) Thailand Philippines Vietnam (Urban 4) Vietnam (Rural)

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Home Care
Asia/MAT Q3 2024 – % Value Growth vs YA Q3 2023 Q3 2024

18.1
Home Care 12.5
10.0 9.8
6.3 5.9
5.1
2.7
0.6 0.0 0.0

-1.9

Chinese Mainland Taiwan South Korea India (Urban) United Arab Emirates United Arab
Emirates
7.3
5.4
18.8 14.4
13.5
10.9
4.1 3.9 2.3 1.3

-0.6 -0.8 -0.1

-5.0

Asia Indonesia Malaysia (Peninsular) Thailand Philippines Vietnam (Urban 4) Vietnam (Rural)

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Personal Care
Asia/MAT Q3 2024 – % Value Growth vs YA Q3 2023 Q3 2024

11.9 18.5
11.0
Personal Care 9.6 8.9
5.6

0.0 0.0

-2.6 -3.5
-6.4
-8.9

Chinese Mainland Taiwan South Korea India (Urban) United Arab Emirates United Arab
Emirates

16.4
13.9

8.8
7.2 6.4 7.0 7.1
0.5 4.9 5.8
2.4
0.4
-1.1
-2.9

Asia Indonesia Malaysia (Peninsular) Thailand Philippines Vietnam (Urban 4) Vietnam (Rural)

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Chinese Mainland

China's FMCG market E-commerce platforms Fragmentation and the

remains steady increase efforts for Double 11 appeal of proximity continue
In the first three quarters of 2024, overall
FMCG sales grew by 1.8%. The beverage In the fiercely competitive e-commerce Retailers are exploring new paths to
and household cleaning categories industry, the Double 11 shopping festival growth. Learning from rising competitors,
maintained good momentum in Q3, has become a touchstone for major they are transforming from volume
growing by 5.5% and 5.1% respectively, platforms to entice shoppers, using levers vendors to hard discount full-category
while dairy and personal care are facing such as product pricing power, logistics, wholesalers, and developing their O2O
serious growth challenges. and customer experience. capabilities.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Super 7% 1%
12
13
25 CVS 5% 0%
12 24
14
24
13 13
Q3 ’22 3 Q3’ 23 3 Q3 ’24 Hyper
3 -6% 1%
17 15
29 30 3
2 14 Grocery 5% 3%
30 3
Ecommerce 12% -10%

Work Unit/Gift 7% -1%

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Taiwan
Both Offline and Online Channels
are Performing Well

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Hyper

Super

Q3 ’23 Q3 ’24 CVS

Q3 ’22
PCS

Drug Stores

Direct Sales

Ecommerce

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India (Urban)

FMCG volume growth in urban areas slowed down Volume in the food sector only grew by 4.3% in Q3
in the last quarter; a contrast to Q3 of 2023 when it this year, compared to 8.9% in 2023. Biscuits, Apart from Kirana stores, all channels have
was urban consumers propelling volume growth noodles and chocolates have been the biggest experienced a healthy growth in shopping
(+7.5%). This is due to the impact of key factors drivers of the overall volume slowdown. occasions, a trend which is primarily led by online
such as inflation of raw material costs, stagnant shopping. Household spend per trip has stabilised
wages, unfavourable weather conditions and across all channels, as consumers rationalise their
government elections. behaviour to manage the impact of inflation.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Super 10% 1%

7 8 Kirana/
2 3% -1%
7 7 11 Paan-Beedi
7 7
12
11
Chemist 21% 4%

Q3’22 Q3’23 Q3’24

Network
18%-2%
82 Marketing
81
80
Online 38%1%
Shopping

Others 8% 1%

Supermarkets Kirana/ Chemists Network Online Others

Paan-Beedi Marketing Shopping

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South Korea
Growth Continues in The FMCG Frozen Food and Sauce/Seasonings Cosmetics Drives Non-Food
Market Drive Food Expansion Frequency Growth
FMCG in Korea demonstrated robust growth of The high-growth categories in the food sector are Unlike the food market, where basket size
8% in Q3; however, the pace of market expansion frozen foods and sauces/seasonings. Frozen foods increased while purchase frequency declined, the
has slowed slightly compared to the first and are expanding steadily, driven by their non-food market showed simultaneous growth in
second quarters. A drop in inflation compared to affordability compared to dining out and the both frequency and basket size. The increase in
the previous quarter appears to have tempered convenience of quick meal preparation. frequency appears to be largely driven by the
the growth in basket size Meanwhile, continuous launches of meal- cosmetics category.
enhancing products has fuelled remarkable
growth in the seasonings and sauces segment.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

2
Hyper 1% 5%
22
3
3 23 Super
23 -7% 2%
34 37 40
Q3 ’22 Q3 ’23 Q3 ’24
Other Modern 4%
21 20 4%
17 Trade
6 6
12 12
Traditional
6 12 -7% 14%
Trade

Internet 19% -1%

Non-store -15% 10%

Hyper Super Other Traditional Internet Non-Store
Modern Trade
Trade

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United Arab Emirates
A Rise in Shopping Activity Shoppers Drive Volume Through E-Commerce Becomes A Habit
Increased Frequency

The quarterly volume purchased per buyer has Shopping frequency has increased The increasing frequency of e-commerce trips
now stabilised compared to the same period significantly, but consumers are spending less highlights how the habit of shopping online is
last year. Additionally, we are seeing an per trip as they shop more at lower-cost growing, further driven by the rise of quick-
upward trend in total volume across both the stores. commerce. There are also new opportunities
food and non-food sectors. for brands to increase basket size and drive
higher prices online.

CHANNEL PERFORMANCE
Channel Importance – % Value MAT Q3’23 vs
Shopping Occasions Spend/Trip
Q3’24

Carrefour 0% -6%

12 19 -2% 1%
12 Lulu
11 19
21
10
9
10
Co-ops -7% -2%
Q3’22 Q3’23 15 Q3’24
16 15 Other
23 24 7% -2%
6 Hypermarkets
13
7
14
25
6 Other
6% -6%
15 Supermarket
s
Baqala /
-9% -7%
Grocery

All Others 3% -1%

Carrefour Lulu Co-ops Other Other Baqala / All
Hypermarkets Supermarkets Grocerie Others
s

*Other Hypermarkets - Nesto Hypermarket, Safeer/Al Safeer Hypermarket, Al Madina Hypermarket, Big Mart Hypermarket, Ansar Gallery etc.
*Other Supermarkets – Nesto Sypermarket, Viva, Al Madina Supermarket, Al Maya, West Zone, Choitrams, Talal Supermarket, Spinneys, Baqer Mohebi
etc. 16
*Key Cooperatives - Union Coop. Society, Abu Dhabi Coop. Society, Sharjah Coop. Society, Emirates Coop. Society, Al Mushrif Coop. Society, Al Ain
Coop. Society, Bani Yas Coop. Society etc.
Indonesia
Each shopping trip matters Upper class is driving consumption Omnichannel is still relevant

FMCG growth remains around 6%, with a slight The increase in trip size is driven mainly by upper- The growth in penetration of modern trade is
recovery driven by the recent increase in volume. class shoppers, indicating a trend of stocking up, primarily driven by supermarkets, which are
This is primarily due to larger trip sizes, with no with more volume per trip and fewer trips overall. attracting new shoppers to the channel.
improvement in shopping frequency, highlighting This suggests that brands should focus on Meanwhile, e-commerce continues to
an increased urgency for brands to optimise every availability and make the most of every occasion. complement traditional retail by drawing in
shopping occasion. additional shoppers and reinforcing the trend
toward omnichannel shopping.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3'24 vs Q3'23

5 6
16
Hyper + Super 9% 2%
4 6
4 6 16
17 4% 2%
Q3 23 3 Q3 24 4 Mini Markets
Q3 22 3

68 69 Traditional -1% 5%
68 Trade
Online 28% 0%
(under ‘Others’)

Hyper + Super Mini Markets Traditional Specialty Others

Trade store

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Malaysia (Peninsular)
Optimistic outlook for the in-home Market demand is genuine Minimarkets remain shoppers’ first
market choice
Malaysia's monthly inflation rate stood at 1.8% in Expenditure remains stable, with growth in Shoppers made fewer trips to hypermarkets,
September 2024, with prices remaining stable in packaged groceries, beverages, and toiletries, supermarkets, and general trade, but
the food and beverages sector, driven by a drop in while the dairy and household sectors compensated by spending more per trip.
prices for cereal products and confectionery. underperformed. In Q3, FMCG spending increased. Meanwhile, minimarkets, drugstores and online
Stable prices, combined with the softening in Prices remained modest, indicating that this grew strongly due to their price-competitive
consumers’ boycotting of certain brands, make growth was driven by real demand. Shoppers are nature. The internet has also become a source for
the outlook positive. buying more per trip, but making fewer trips ranges that are not easily found offline, such as
overall. bulk packs.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Hyper -12% 16%

10 16
10 16 6
10 6 Super -9% 11%
17
6 8
7
6
Q3 22 Q3’23 Q3’24
11 10 8 Mini 17% 0%
3
11 12 39
8 39
14 General Trade
-27% 14%

Drug Beauty 9%
1%
& Pharmacy

E-commerce 33% -18%

Hyper Super Mini General Drug Ecommerce Others
Trade Beauty &
Pharmacy

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Thailand

Thai consumers are still careful about their With continuous shifts towards out-of-home Shopping frequency and the number of retailers
expenditure, due to high levels of household debt consumption, both value and volume of in-home visited have remained at a high level for the past
and less disposable income. However, with the cooking products and beverages continued to slow three years, as Thai consumers search for better
government support that arrived in October down, along with home-care products. Aligning with value-for-money. National supermarkets and
2024, we can expect some recovery and the cautious spending trend, Thai consumers are convenience stores grew their share in Q3, led
behavioural shifts going into Q4. moving towards more affordable choices in some mostly by 7-eleven and CJ Supermarkets. Online
categories. channels also quickly gained momentum, led by
TikTok and Shopee.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Hyper
7 10
7 Super
8 11 3
9 11 6
15
5 3
3
13
13
Q3 24
CVS
Q3 22 Q3 23
38 20
37
20
37 20 H&B Stores

PVS
Direct Sales

Ecommerce
Hyper Super CVS H&B PVS Direct Ecommerce Others
Stores Sales

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Philippines
Slower Inflation Allows Sustained Bigger Budgets Broaden Category Omni-channel Recruitment
Strong Spending Repertoires Increases
With inflation hitting a four-year low, consumers
across the region continued to boost their FMCG Shoppers are shelling out on more categories, While sari-sari and hyper-supers are still the go to
spending in Q3 of 2024. including pantry staples such as cooking oil, channels, more Filipinos are becoming omni-
water and seasonings, and non-food items like channel shoppers, with higher spending in
Despite the economic tailwinds, shoppers are
shampoo and home care products. modern proximity formats such as grocery and
maintaining a value-driven mindset, which
usually manifests in their product choices as drug stores.
downtrading.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Super
Hyper

Groceries
Q3 ‘23
Q3‘24
Q3 ‘22 Drug Stores

Direct Sales
CVS
Traditional
Trade
Super Hyper Groceries Drug Stores Direct Sales CVS Traditional Ecommerce Others Ecommerce
Trade

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Vietnam (Urban)

Vietnam recorded better-than-expected GDP Consumers remain cautious in their spending due Consumers are spending less each trip across the
growth in Q3 at 7.4%. This shows resilience, to uncertainty around external factors that are channels they visit. Minimarkets and online are
despite the heavy economic damage caused by outside their control. FMCG growth in urban key the two key channels posting rises in shopping
the super typhoon Yagi, which temporarily cities continues to decline across almost all frequency, proving themselves to be the growth
dampened consumer confidence in the country’s sectors, driven by beverages, which witnessed a engine for the retail industry.
economic prospects. sharper drop in volume in Q3.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Street Shops -3% -3%

5
5 10 Wet Market -5% -3%
7
5
7
12
11 12
Q3 23 Q3 24 49 Specialty Stores -6% -1%
7 Q3 22 53 6
51

5 5 6
6
7 6
7
5 Hyper 2% -4%
6
6

Super 2% -2%

Mini Stores 7% -7%

Online 45% -8%

Street Wet Specialty Hyper Super Mini Stores Online Others
Shops Markets Stores

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Vietnam (Rural)
Rural FMCG Posts Modest Growth Consumers Embrace Personal Care Specialty Stores and Online
Continue to Thrive
While FMCG growth appears to be more stable in The food sector is growing more slowly than the Specialty stores continue to enjoy increased
rural areas, most sectors are struggling to achieve non-food sector, with beverage categories frequency and spend per trip, gaining 2pt in value
volume growth. Personal care continues to record posting minimal volume increases across all share contribution in one year. Online channels,
robust growth, primarily driven by a strong push regions. In contrast, the personal care sector while starting from a smaller base, are also
in volume, fuelled by the hair care and diaper remains a bright spot, delivering robust double- experiencing significant growth in rural areas,
categories. digit volume growth. mirroring the trends seen in urban centres.

CHANNEL PERFORMANCE
Channel Importance – % Value Shopping Occasions Spend/Trip
MAT Q3’24 vs Q3’23

Street Shops 1% 0%

3 4
2 4 3
2
22 4 4
23 6 Wet Markets -6% -3%
42
11 11 10
Q3 22 Q3 23 Q3 24
Specialty Stores 24% 6%

76 73
72

Hyper & Super -7% 1%

7% 5%
Mini Stores

Online 54% -15%

Street Wet Specialty Hyper & Mini Online Others
Shops Markets Stores Super Stores

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Appendix – Channel Definition

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Appendix – Channel Definition

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 Kantar is the world’s leading data, insights and
consulting company.

We have a complete, unique and rounded understanding

of how people think, feel and act; globally and locally in
over 90 markets. By combining the deep expertise of our
people, our data resources and benchmarks, and our
innovative analytics and technology, we help our clients
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FOR FURTHER INFORMATION, PLEASE CONTACT

Steven Lien – Regional ASIA Marketing Director

Steven Lien – Regional ASIA Marketing Director

steven.lien@kantar.com

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