Demand normalised to an extent in China in 2024 following the decline seen a year earlier after the Chinese authorities scrapped their zero-COVID policy at the end of 2022, leading to a major return to eating out in this country in 2023. While sales in Japan continue to struggle, India, with its expanding population and improving economy, was recording strong growth at the end of the review period, which is expected to continue in the coming years.
This report comes in PPT.
Adani, the leading player in Indian cooking ingredients and meals, and also the number two player regionally, has officially opened its new production facility at Gohana in the state of Haryana. The INR13 billion (about USD150 million) plant will make a number of products, including rice and edible oils.
The availability of domestic olive oil is expected to grow rapidly in China, as the area planted with olive trees in this country has increased significantly over the past few years, with new domestic olive oil brands emerging in the market. As the olive tree cultivation area continues to expand and processing technologies mature, the market is anticipated to see an influx of domestic olive oil products.
While modern grocery retailers continue to lead sales in China, Japan and South Korea, small local grocers remain the dominant channel in India. E-commerce made strong share gains in most countries when the pandemic first hit the region in 2020, and has since continued to grow in much of Asia Pacific, with its retail value share reaching almost 9% in the region in 2024.
Major convenience store chains such as 7-Eleven, Lawson and FamilyMart hold substantial shares in ready meals in Japan with their private label lines. These retailers actively launch new products on a regular basis, and host limited-time events such as Okinawa fairs, which attract consumers’ interest and enhance the visibility of cooking ingredients and meals.
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