The Asia-Pacific region is on track to become the world’s most powerful consumer market, with private consumption expected to jump from $65 trillion in 2025 to $110–$120 trillion by 2035 For consumer packaged goods ( CPG ) and fast-moving consumer goods ( FMCG ) players, that growth comes with complexity: divergent market trajectories, fragmented channels, and fast‑moving local competitors.
Growth is real but uneven In the twelve months to June 2025 , FMCG value in Asia-Pacific grew 4%, powered mainly by 2.8%
volume growth and a modest 1.2% price increase. That contrasts with North America and Western Europe , where growth has been slower and more reliant on price hikes than true volume recovery. Within the Asia-Pacific , performance is sharply split.
India posted value growth of 7.2% in 2024 and an even stronger 13.7% in the first half of 2025, while Southeast Asia cooled to 1.8% in early 2025 from 3.5% the year before. China is showing early signs of a rebound, with FMCG growth rising from 2.8% in 2024 to 4.7% in the first half of 2025, driven largely by online channels.
No single growth engine A decade ago, many multinationals treated China as the region’s default growth engine. Now, its GDP has moderated from 6.8% in 2018 to 5.0% in 2024 , with the IMF revising its 2030 forecast down to 3.4%.
At the same time, India is projected to sustain around 6.5% annual GDP growth to 2030 , while the ASEAN‑5 (Indonesia, Malaysia, the Philippines, Thailand, Vietnam) are expected to expand by roughly 4.5%, led by Indonesia…
