MEET THE LOCAL WINNERS

The most chosen brands in each market

Chinese Mainland

Reviving FMCG in China: Recovery, Resilience, and Renewed Growth

2023 has been a year of restoration for FMCG brands in China as COVID-19 control policies relaxed. With a recovering economy and offline consumption returning, FMCG is gradually recovering. Health awareness drives growth in health-related categories, emphasizing advanced nutritional ingredients and premium pricing for indulgent experiences. Brands must adjust portfolios and pricing based on evolving consumer demand, targeting segments for effective revenue management. Improved omnichannel deployment is vital for shopper activation and conversion, requiring stronger online-to-offline capabilities. Brands can capitalize on out-of-home consumption by connecting with specific customer groups during consumption occasions.

India

Inflation Resilience Drives Brand Growth and Changing Shopper Habits

In the aftermath of the 2020 lockdown and the 2021 pandemic wave, India faced global inflation in 2022. Despite the challenges, the country managed to control its inflation due to its historically moderate inflation economy. Consumers started buying smaller packs to limit expenses, leading to an increase in shopping occasions. Notably, brands with higher penetration growth saw more growth. Two new brands, Surf Excel and Sunfeast, entered the top ten list, while snack consumption grew and Britannia challenged Parle for the top spot.

Indonesia

Adaptability and Innovation: The Key to Resilient Growth Amid Inflation

Despite inflation, Indonesia has maintained economic growth, with consumers adjusting spending and prioritizing needs, affecting brand choices. Upper and Middle-class shoppers are buying larger packs, while Lower-class consumers are opting for cheaper brands. Many brands have expanded their shopper base despite challenges, offering alternative pack sizes and adopting appropriate price-pack strategies. New entries to the Top 100 most chosen FMCG brands have shown impressive growth. The report provides insights from successful brand custodians and shares inspiring stories from long-standing market leaders, aiming to inspire your brand's sustainable growth strategies.

Malaysia

Resilience Amidst Change: Winning Strategies in Malaysia's FMCG Market Post-Pandemic

The tumultuous climate of 2022, marked by eased restrictions and inflation, impacted the FMCG sector in Malaysia. Consumers, spending less time at home, opted for more budget-friendly choices, causing a 1% decline in grocery spending, a setback for many brands. Despite a saturated market, a select group of brands and manufacturers adeptly navigated these post-pandemic shifts, successfully attracting and retaining customers.

Philippines

Embrace the New Era: Discover Value, Shop Smart

In 2022, the Philippines emerges from the pandemic and people embrace post-pandemic life. Shoppers spend more across different sectors, exploring categories they had neglected during the pandemic. Despite high inflation, shoppers cope by seeking value through affordable brands, downsizing, and shopping in sari sari stores. Household brand names remain popular, but brands with a strong value proposition gain traction. Congratulations to brands that adapt to meet shoppers' needs in this new context.

South Korea

Consumer Confidence and Brand Loyalties: Adapting in Korea's Evolving FMCG Landscape

In 2022, the pandemic and inflation led to a contraction in Korea's FMCG food sector, caused by reduced consumer confidence. Meanwhile, premium non-food sectors saw growth. The FMCG market's potential rests on consumers re-evaluating brand loyalties and spending habits in response to higher prices.

Taiwan

Adapting to New Norms: Decoding Taiwanese Shopping Trends Amidst Pandemic and Price Rises

In 2022, Taiwan's COVID surge led to more stay-at-home activities while rising prices started affecting consumers. Key trends included a return to social lifestyles boosting convenience products and beauty sector, an increase in health consciousness bolstering vitamins and supplements sales, and openness to premium products, encouraged by innovative offerings. The top-performing brands effectively capitalized on these trends.

Thailand

Adapting to Change: Thriving in Thailand's FMCG Market Amidst Inflationary Trends

Inflation has influenced the grocery sector globally, prompting FMCG companies to adopt effective pricing strategies and offer value. Thai consumers, though financially flexible, have been affected, leading to less spending, fewer purchases, and a preference for outdoor or health-related products. FMCG brands need to understand evolving consumer needs and stay current with demographic changes to encourage trading up without losing to competition.

Vietnam

Resilience & Adaptation: Vietnam's Journey Through Post-Pandemic Recovery

Emerging from a strict lockdown in 2022, Vietnam experienced hope yet uncertainty. A solid recovery in several FMCG sectors, despite increasing prices, signified resilience. Consumers navigated the inflation by adopting cost-saving strategies. Successful brands in 2023 earned loyalty by understanding consumer needs and swiftly adapting to market changes.

Bangladesh

Resilient Bangladesh: Navigating Pandemic Challenges and Economic Uncertainties

Bangladesh successfully navigated the pandemic, but economic headwinds followed bringing rising global commodity prices and uncertainty due to the war in Ukraine. Shoppers have tried to manage their wallets in different ways, including switching to prominent local brands, sticking to the most relevant pack sizes or buying bigger packs wherever possible.

Sri Lanka

Resilience Amid Ruin: Sri Lanka's Strenuous Journey through Economic Turmoil

In 2022, as Sri Lanka grappled with an unprecedented economic crisis characterized by hyperinflation and a 75% currency depreciation, consumers exhibited resilience and adaptability. The harsh economic conditions resulted in a steep drop in FMCG volumes, prompting consumers to downsize on essentials, move towards value-for-money brands, and consider unbranded options. Despite the challenging landscape, highlights of adaptability emerged, such as a beverage brand that climbed three ranks within the top 10 FMCG brands. The compelling stories encapsulated in this report underscore the dynamism of the market during these challenging times.