FMCG spending up 6.1% YoY in 2023

This is mainly driven by inflation.

Total spending on fast-moving consumer goods (FMCG), excluding fresh, grew by 6.1% year-on-year (YoY) during the period ending in March 2023, reaching $168b on the back of inflationary pressures, according to a Bain & Company report.

Bain noted that five out of eight markets covered posted an inflation average of over 6% in food and non-alcoholic beverages in the 12 months ending in March 2023.

These countries include the Philippines (8%), Thailand (7.5%), India (6.7%), Peninsular Malaysia (6.5%), and South Korea (6.4%).

ALSO READ: Online grocery sales growth slows in Asia

Taiwan China (5.6%), Indonesia (5%), and Vietnam (2.8%) reported slower inflation rates.

“The good news is that, across the region, consumers have largely been resilient and maintained their spending levels on FMCG,” the report read. “Since inflation peaked in most markets in June and July 2023, consumer confidence has started to improve,” it added.

Follow the link for more news on

Bain & Company

Asia Retail Spending

Also Read

GOELIA expands with 9 new store openings in China and Singapore

Gentle Monster opens first flagship boutique in Australia

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit