KANTAR Worldpanel recently revealed a three-percent growth in the total FMCG (fast moving consumer goods) market in Asia in the past 12 months ending June 2017 (July 2016 to June 2017).
This is based on data tracked by Kantar Worldpanel for its Consumer Insights study, which covers households in Asian countries such as China, Taiwan, South Korea, India, Saudi Arabia, Malaysia, Thailand, Vietnam, and the Philippines.
The personal care category (e.g. hair care and skin care products) registered the highest growth in the continent at 7.4 percent.
Home care (e.g. detergent and dishwashing soap) spend was ranked second with an increase of 2.8 percent, while dairy (e.g. cheese and milk products) and food (e.g. canned food and chips) categories followed closely with 2.5 percent and 2.3 percent growth, respectively.
However, beverage (e.g. alcohol and juice products) was the lone category that experienced a 0.4 percent decline during the period covered by the study.
In the Philippines, the study revealed that the FMCG value spend in nearly all categories has shown steady growth. Confirming that Filipinos love to eat, the Philippines saw a growth of 4.3 percent in the food category and 4.4 percent in the dairy category. Homecare saw an even higher percentage growth in value spend at five percent, while personal care increased by three percent.
Beverage purchases in the country also declined by 1.5 percent, although still higher than the rest of Asia. (PR)