Bridging Asia's Unmet Packaged Food Potential

Asia Pacific is projected to have 237 million tonnes of unmet retail packaged food potential. 60% of this comes from staple foods as Asian consumers gradually trade up for better quality food essentials promising safety and hygiene. Consumers are also seeking value-added product attributes that are both convenient and experiential. Offering product variety across more cuisines and formats could open new opportunities, while stagnant growth could be reversed by embracing more competition.

This Bridging Asia’s Unmet Packaged Food Potential global briefing offers an insight into to the size and shape of the Fresh Food market, highlights buzz topics, emerging geographies, categories and trends and identifies the leading companies and brands. It also offers strategic analysis on driving fresh food industry trends like health and wellness, premiumisation, convenience and value-for-money and how those trends influence factors like packaging innovations, retail distribution and retail pricing both historically and into the future.

Product coverage: Eggs, Fish and Seafood, Fruits, Meat, Nuts, Pulses, Starchy Roots, Sugar and Sweeteners, Vegetables.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Key findings

Despite global market volatility, Asia shows vast consumption potential for packaged food

The Asia Pacific packaged food market is underserved, with only half of its full potential tapped into in 2024. Most of the consumption gap goes to staple foods, where progress is limited by the abundance of fresh food. Asian consumers are gradually trading up, driving value growth in both fresh food and packaged processed food, as they seek quality and food safety, as well as novelty.

Lifestyle changes, channel shifts and product variety drive forecast growth

Beyond macroeconomic factors driving Asian economies, it is imperative to assess “soft drivers”. Processed meat brands are innovating to lifestyle changes in Indonesia, and South Korean manufacturers enforce value in baked goods, paving the way for brighter market prospects. Meanwhile, the Philippine instant noodles market faces a bleak future if it fails to embrace competition.

Convenience and experiential features shape innovation

Winning brands that aim to build market share and customer loyalty for the long term introduce varieties that speak to Gen Z consumers. For example, fusion flavours that are exciting yet familiar and products that are versatile to fast-paced lifestyles and inconsistent routines. Novelty will invigorate more mature categories, such as new cuts and types of meat in processed meat.

Growing competition, if optimised, improves category dynamism

The race for claiming a larger market share whilst growing the size of the market goes beyond packaged food brands; artisanal products (such as bakery) made fresh and foodservice compete with packaged food players for share of wallet and stomach. Brands that introduce products with differentiated features within an affordable price range are on track to stand out.

Why Buy this Report?

• Get a detailed picture of the Fresh Food market;
• Pinpoint growth sectors and identify factors driving change;
• Understand the competitive environment, the market’s major players and leading brands;
• Use five-year forecasts to assess how the market is predicted to develop.