亚太消费品报告2025

Six trends are reshaping the world’s largest consumer base.CPGs must learn to navigate Asia-Pacific’s complexity to Authors and acknowledgments Miya Wangis a senior practice manager with Bain & Company’s Consumer Products practice in the Elle Yangis a Bain partner in the Consumer Products and Retail practices and is based in Tokyo. Praneeth Yendamuriis a Bain partner and leader of the Consumer Products practice in the Southeast David Zehneris a Bain senior partner and leader of the Consumer Products practice in the Asia-Pacific Craig Houlistonis an executive director at NielsenIQ and the leader of Above Market Consulting andInsights in the Asia-Pacific region. He is based in Singapore. This report is a joint effort between Bain and NielsenIQ. The authors are grateful to all who contributed,particularly Yifei Gao and the Bain Capability Network, and Son Nguyen, Wei Cheng Lee, and Thuong Asia-Pacific Consumer Products Report 2025Asia-Pacific Consumer Products R eport 2025 At a Glance `The Asia-Pacific region is expected to surpass North America, becoming the largest contributorto global private consumption by 2035. Therefore, global consumer packaged goods (CPG) `The region’s vast diversity presents both immense opportunity and significant complexity.There is no one-size-fits-all playbook for winning across its markets. `While not universally applicable, six trends reflect the dominant dynamics reshaping Asia-Pacific `To build lasting competitive advantages, CPGs must understand local nuances and tailor theirstrategies, route-to-market approaches, and operating models. They also need to accelerate The Asia-Pacific region is the world’s largest consumer base—and it continues to expand, resulting inincreasingly divergent consumer behaviors and channel preferences. That expansion is fueling rapid For CPG leaders, the region’s complexity raises pressing questions, such as: Where is growth trulycoming from? How should expansion be sequenced, and how should investments be planned? How cancompanies navigate increasingly divergent market trajectories and ever-evolving channel landscapes? This report examines how the greater Asia-Pacific market is developing and offers insights to help Growth dynamics in the Asia-Pacific region Global private consumption is expected to nearly double in the next decade, rising from $65 trillion in2025 to $110–$120 trillion by 2035. The Asia-Pacific region will drive much of this growth. With steadypopulation growth, increasing affluence, and urbanization, it could surpass North America as the world’s For consumer packaged goods (CPG) companies, restoring profitability and volume-led growth to thefast-moving consumer goods (FMCG) segment is a top priority—and the Asia-Pacific region is already a stepahead. In the moving annual total (MAT) ending in June 2025, FMCG value grew 4% in the Asia-Pacific Asia-Pacific Consumer Products R eport 2025 FMCG value growth by region(percentage, MAT June 2024 and June 2025) However, performance varies significantly across the Asia-Pacific region. Developing markets such asIndia are seeing robust value growth (7.2% in 2024 and 13.7% in the first half of 2025), while SoutheastAsia is experiencing a slowdown. Southeast Asia’s growth eased to 1.8% in the first half of 2025—down As growth patterns diverge, CPG leaders must look beyond regional averages to uncover where momentum Asia-Pacific Consumer Products R eport 2025 Six CPG trends reshaping the Asia-Pacific region To help CPGs navigate this complexity and refine their strategies, we identified six trends reshaping thesector in the Asia-Pacific region. While not uniform across all markets, these trends reflect the dominantforces driving growth. They also reveal critical insights for CPG leaders seeking sustainable growth. 1. Shifting market dynamics The Asia-Pacific region is a critical territory for multinational companies (MNCs) and the global economy.However, each country within the region has evolved differently, particularly post–Covid-19 (see Figure 3). A decade ago, multinational CPGs often viewed China as a surefire growth engine. Yet in recent years, thecountry’s GDP growth has moderated. China’s GDP was 5.0% in 2024, down from 6.8% in 2018. Accordingto the International Monetary Fund, the country’s 2030 growth forecast has been revised down further to Growth continues across Asia-Paciic,driven by developing markets Asia-Pacific Consumer Products R eport 2025 Meanwhile, India has exhibited robust GDP growth (6.5%), which it’s expected to sustain through 2030.The ASEAN-5 (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) are forecast to grow around4.5% through 2030, led by Indonesia. While these markets offer promising growth, they are not expected As a result, there is no single growth engine in the Asia-Pacific region. Diversification is the new reality—and one that demands bold, market-specific strategies to unlock sustainable growth across diverse