Asia increases demand for Western foods
demand for 'western' products in many food categories, according to
a new Research and Markets report, reports Claire Johnston.
Asia is growing in many aspects, not only with regard to the production and export of a large variety of goods but also through the import of European and American products.
Whereas the older generations in Asia may be seen as more traditional consumers, the younger generations are definitely not. However retailers moving in on the increasing demand for western foods are warned by the report; that whilst accepting differences in cultures they must not try to push identical products at all costs.
Western foods have shown a significant growth in both volume and value in Asia, with many European and American retailers conquering their positions in the retail market. Retailers such as Carrefour and Tesco have seen significant growth in Asia, primarily through locally produced products but also by the use of their family roots to import western foods.
According to the report, Tesco Lotus Supercentre, Big C (Central Group), Makro, Carrefour, TOPS, Siam Jusco, The Mall, 7-Eleven (CP Group) and Family Mart, are among the top-ranking retailers to cash in on the rising demand for western products.
'The Asian food retail market has opportunities for many western products and the key for entering this market is knowledge of the retailers and the ability to create contacts with them,' said a Research and Markets spokesperson.
The Research and Markets report provides a breakdown of 16 major countries in Asia that are open to western products, in many cases already having European and American retailers present. A profile and ranking of the most important 130 retailers in each country is provided, including the company name, the banners, number of shops, types, sales surface, address and other coordinates.
The report also covers topics such as population development, the top 18 retailers in Asia and exchange rates, as well as short listing the independent food importers for each country.