As local FMCG brands strengthen, foreign brands are challenged in SE Asia
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NNA Business News

By Celine Chen SINGAPORE, NNA – Local brands of fast-moving consumer goods (FMCG) in Asia are winning as they keep chipping away at the position of formidable, global multinational companies (MNCs). A NielsenIQ report issued this month said both local as well as innovative products are now driving sales for the industry. Asians’ preference for local products has continued to grow, taking up a majority market share from 60.1 percent in 2018 to 61.7 percent in 2020, according to the report. On the other hand, the market share of MNCs dropped from 25.2 percent in 2018 to 24.1 percent last year. W…

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