Many are turning to veganism, influenced by the health movement and environmental concerns. The Global Vegan Food market is expected to reach US$31.4 billion in 2026, growing at an annual average of 10.5%.
The Creative Economy contributes 3% to global GDP, with cultural and creative industries generating USD 2,250 billion annually. Covid-19 hit this sector particularly hard, with a 70% drop in global concert revenue in 2020.
Valued at US$4.41 billion in 2019, the global face mask market is expected to grow at about 24% a year to reach over US$31.8 billion by 2027.
Decades of rapid industrialisation in Asia as well as a rising prevalence of air-borne diseases across the globe has fuelled the global Air Purifier market. Valued at US$10.6 billion in 2020, it is projected to reach US$20.82 billion by 2026, growing at an annual rate of 14.1% between 2019 and 2026.
Asia Pacific’s ageing market hit US$3.2 trillion in 2020, and is expected to expand rapidly by 43% in a short span of 5 years. By 2030, 32% of the APAC population will be over 50 years old, and projected to contribute 52% of the total consumer expenditure.
Valued at US$15.44 billion in 2020, the global seasoning and spices market growth is expected to reach US$22.46 billion within the next seven years.
The GDP of Southeast Asia (SEA) has skyrocketed over 30% over the past 10 years, reaching US$ 3.11 trillion in 2020 even amidst the global pandemic.
As the Korean Wave brought Korean pop music, drama, and celebrities to the global stage, it also helped to export Korea’s consumer lifestyle products such as cosmetics, food and technology. According to the Korean Foundation for International Cultural Exchange (KOFICE), K-Wave exports amounted to US$12.3 billion in 2019, a 22.4% increase from 2018.
Indonesia’s over-the-top (OTT) market is growing at 27% a year and is projected to hit US$1.5 billion by 2026.
In its recent survey on food trends, Spire found that 80% of consumers in Southeast Asia are concerned about their health, and thus have become more mindful of the ingredients that go into their food.