Plant-based meat market sees 17% CAGR through to 2027

UnivDatos Markets Insights has forecast that the plant-based meat market will grow at a CAGR of over 17% from 2021-2027. Global plant-based meat sales are expected to reach around US$85 B by 2030, compared to US$5 B in 2018. 

The research firm further expects that plant-based products will account for 10% of global meat consumption within the next five years while conventional meat becomes less popular. UnivDatos Markets Insights said that the supply of conventional meat products would fall by more than 50% by 2040.

COVID-19 created increased awareness about man's impact on the environment, the company said, and has driven government policies on climate change. Consumers stockpiled food during COVID lockdowns, selling 231% more fresh plant-based products in 2020 compared to the same period in 2019. IRI data analysed by The Good Food Institute also registered 454% growth in the sales of plant-based meat over this period.

Soy-based meat is expected to dominate the market during the forecast period due to its protein-rich content. By type, plant-based chicken leads the market followed by plant-based beef. In terms of format, plant-based burger patties dominated the market in 2020 because of their low fat and gluten content, and are expected to maintain their dominance throughout the forecast period.

Although North America dominated the market in 2020, the Asia-Pacific region is expected to witness the highest CAGR growth during the forecast period.

Major players mentioned in the report include:

- Alpha Foods
- Amy's Kitchen
- Beyond Meat
- Hooray Foods
- Impossible Foods
- Maple Leaf Foods
- Morningstar Farms
- Quorn Foods
- The Vegetarian Butcher
- Tofurky

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AR, VR show promise in APeJ

Asia Pacific excluding Japan (APeJ) spending on augmented reality and virtual reality (AR/VR) is forecast to reach US$11.1 billion in 2018, an increase of more than 100% from US$4.6 billion the previous year, says research firm IDC.

The latest update of IDC's Worldwide Semiannual Augmented and Virtual Reality Spending Guide shows investments on AR/VR products and services have gained "exceptional market momentum" in 2018 and are expected to achieve a five-year CAGR of 68.5% through the forecast period of 2017 to 2022.

“The availability of new standalone VR headsets such as Oculus Go from Facebook and Mirage Solo from Lenovo is expected to drive adoption as well as content spending in 2018 and beyond, as these headsets eradicate the need for pairing with PCs or consoles that used to drive costs higher for AR/VR experiences," said Avinav Trigunait, Associate Research Director at IDC Asia Pacific.

The consumer sector will continue to drive growth for AR/VR products and services, and accounts for 51.3% of overall spending in 2018. The growth will be primarily driven by the availability of new headsets for VR which will lead to VR consumer spending. 

AR spending will be dominated by the purchase of services – the launch of AR software development kit (SDK) platforms from both Google and Apple are also expected to drive spending on application development and games for mobile platforms. AR games in the consumer sector look  promising and are projected to hit a five-year CAGR of 90.9%, whilst VR games will register a growth of 54.7% in five-year CAGR over the forecast period. 

Source: IDC. Top use cases for AR/VR based on 2018 market share.

Enterprise spending, which represents more than 48% of AR/VR spending in 2018, is expected to overtake the consumer sector in the next five years with 58% share by the end of the forecast period. Each of the five commercial sectors is forecast to register solid growth in spending throughout the forecast period, led by the distribution and services, and public sector. Distribution and services, worth US$2 billion, will be the largest amongst the five commercial sectors in 2018, led by the personal and consumer services, retail, and professional services industries. The second-largest sector will be manufacturing and resources (US$1.7 billion) with balanced spending across the process manufacturing, construction, and discrete manufacturing industries.

The VR games use case has the highest share among all the sectors, garnering a 39.4% share of overall spending in 2018. In the distribution and services sector, training and retail showcases will be the two largest AR use cases with a combined spending of more than US$329 million in 2018. Training, industrial maintenance and project management will be the largest use cases in the manufacturing and resource sector. In the public sector, infrastructure maintenance and government training will be the two largest use cases in 2018.

"The use cases for both AR and VR are proliferating in the enterprise segment as companies across sectors are developing new IT and business applications. Many enterprises in the region have already developed solutions utilising AR and VR such as for design and visualisation, corporate training, field maintenance and customer experience, and marketing applications," added Trigunait.

"AR/VR technologies are quickly crossing the chasm with several real-world applications emerging every day in both enterprise and consumer segments. Although, the Asia Pacific excluding China and Japan adoption is slower when compared with the US or even China markets, the growth trajectory is very promising with enterprises which are utilising AR/VR technologies to accelerate their digital transformation strategies. In terms of spending, the education industry is expected to top the charts from 2019 till the end of the forecast period out of the 19 industries covered in this spending guide. Other key industries driving growth for AR/VR include retail, manufacturing and healthcare," said Swati Chaturvedi, Senior Market Analyst, IDC IT Spending Team.

On a geographic basis, China will be the region with the largest AR/VR spending with 91.3% share of the overall spending (US$10.2 billion) in APeJ in 2018 and this trend is likely to rise over the forecast period with a five-year CAGR of 70.5%. While, AR/VR technology in other countries of APeJ are slowly emerging and experimenting around how AR/VR can improve the retail and other industry experiences.

Interest grows in cold pressed juices

Source: Techsci Research.

According to a TechSci Research report, Global Cold Pressed Juices Market By Nature, By Type, By Point of Sale, Competition Forecast and Opportunities, 2012-2022, the global cold pressed juices market is projected to grow at a CAGR of over 10% from 2016 to 2022 on account of rising disposable income levels, growing awareness among consumers, aggressive marketing strategies of major companies, easy availability of cold pressed juices and robust distribution network of major players in different regions across the globe.

In 2015, global GDP per capita in terms of purchasing power parity reached US$15,470.15 from US$14,020.31 in 2012. Rising health concerns and increasing global healthcare expenditure per capita to US$1,083.28 in 2015 from around US$1,026.16 in 2012 are also fuelling demand for cold pressed juices across the globe.

Additionally, rising focus on preventive healthcare, growing awareness among consumers about the harmful effects of consuming products manufactured using synthetic ingredients and increasing demand for organic cold pressed juices is projected to drive sales of cold pressed juices. Although conventional cold pressed juices dominated the global cold pressed juices market, there has been robust growth in demand for organic cold pressed juices. This can be attributed to rising awareness about health and nutritional benefits of organic products. 

“Rising health awareness, expanding youth working class population base and rapidly changing consumer preference towards organic cold pressed juices over conventionally manufactured cold pressed juices due to its high nutrient content has driven sales of cold pressed juices across the globe. 

"Moreover, greater accessibility of these products through supermarkets/hypermarkets, brick and mortar stores and online channels along with continuous developments in supply chain network across the globe are also anticipated to drive demand for cold pressed juices across the globe through 2022.” said Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Some of the leading players in the global cold pressed juices market include PepsiCo’s Naked Juice, Hain Celestial’s BluePrint, Starbucks Evolution Fresh, and Suja Life. 

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The sweet spot for candy in Indonesia

Perfetti Van Melle Indonesia PT is known for the Mentos brand in Indonesia.

A large variety of affordable sugar confectionery, coupled with marketing efforts from leading manufacturers in Indonesia has been driving sales in this product category in Indonesia, says research consultancy Euromonitor in its Confectionery in Indonesia report.

Perfetti Van Melle Indonesia PT continues to lead sugar confectionery with a value share of 23% in 2016. The company is known for the Mentos, Alpenliebe, Fruit-tella, Marbels, Golia, Chox and Chupa Chups brands. Over the review period of 2011 to 2016 the company invested heavily in new product development as well as marketing in order to maintain its leadership of the category, Euromonitor said.

Sugar confectionery is expected to increase at a value CAGR of 4% at constant 2016 prices over the forecast period from 2016 to 2021, driven by the Indonesian consumer characteristics such as the willingness  to try new products. Euromonitor believes that manufacturers are likely to work on brand differentiation in the face of tough competition. They are also expected to launch new products regularly, while at the same time maintaining stable prices.

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TechSci Research sees potential in organic dairy market

Increasing health consciousness, an expanding urban population base and growing consumer spending on organic products will drive the global organic dairy products market through to 2021, says TechSci Research, a research-based global management consulting firm.

Global Organic Dairy Products Market By Product Type, By Region, Competition Forecast and Opportunities, 2011 - 2021 predicts that the global market for organic dairy products will grow at a CAGR of over 11% during the 2016-2021 forecast period. The forecast is based on anticipated expanding product portfolios, easy availability of organic dairy products, robust distribution networks, rising Internet penetration and aggressive marketing strategies adopted by major companies.

Organic drinking milk, organic yoghurt, organic cheese, organic butter, organic milk powder and organic probiotics are the major segments in global organic dairy products market, with organic drinking milk and organic yoghurt dominating the market, globally. However, on the back of attributes such as increasing immunity, energy, mental strength, reduction in risk of cancer and chronic fatigue and cure for irritable bowel syndrome intestinal homeostasis, demand for organic probiotics is expected to witness the fastest growth in global organic dairy products market.

Karan Chechi, Research Director with TechSci Research listed various reasons why sales of organic dairy products are up across the globe:

• Rising awareness about health benefits associated with organic dairy products, 
• Increasing average household annual spending on dairy products, 
• Rapid urbanisation, 
• Easy accessibility of these products through retailers and online channels, 
• Changing consumer preferences, 
• Continuous developments in supply chain network and 
• Implementation of government initiatives to encourage farmers to switch to organic farming

"In addition, introduction of innovative organic dairy products such as energy based milk drinks, flavoured organic milk drinks and a variety of organic yogurt and other organic dairy products are expected to further propel growth in global market for organic dairy products through 2021,” said Chechi.

Organic Valley, Omsco, Whitewave, and Aurora Organic Dairy are few of the brands operating in global organic dairy products market.

Cosmetics go organic in a big way

Rising health concerns, and increasing awareness about harmful effects of chemicals in conventional cosmetics and benefits associated with organic cosmetics are expected to drive the global organic cosmetics market through to 2021 according to a TechSci Research report, Global Organic Cosmetics Market By Product Type, By Point of Sale, By Region, Competition Forecast and Opportunities, 2011 - 2021.

TechSci Research, a research-based global management consulting firm. predicts that the global organic cosmetics market is projected to register a CAGR of over 13% during the 2016-2021 period. Organic cosmetics are manufactured using organic ingredients and without the use of chemicals. Growth in global organic cosmetics market can be attributed to factors such as increasing skin diseases, rising disposable income, growing awareness among consumers, increasing focus on environment and animal welfare, a widening distribution channel network coupled with increasing visibility and accessibility to organic cosmetics through retail outlets. Continuous product innovation is also expected to influence the global organic cosmetics market.

Rising standards of living and increasing personal disposable income has driven adoption of these cosmetics across the globe. In 2016, growth in consumption of organic cosmetics was witnessed globally as governments in many countries are taking initiatives to promote and encourage use of organic cosmetics. Additionally, governments in various countries have also laid regulatory, policy and safety legislations to improve quality of organic cosmetics.

Organic cosmetics are generally more popular among females, who accounted for more than 75% of the total organic skincare usage worldwide. L'Oréal, Estée Lauder, Avon, and the Revlon Group are few of the leading players in the global organic cosmetics market on the back of their wide range of product offerings, robust distribution network and huge consumer base. Many key players are also focusing on expanding their distribution network to online channels. However, exclusive retail stores and supermarkets/hypermarkets are anticipated to continue dominating sales of global organic cosmetics market through to 2021.
 
"Increasing pollution and unhealthy working lifestyles has driven adoption of alternatives such as organic cosmetics across the globe, especially among the youth. Younger generations prefer to use organic cosmetics, as it is free from high concentration of chemicals. Growing demand for organic cosmetics with multiple benefits claims such as anti-ageing, moisturising and sun protection factor (SPF) protection is poised to boost growth in global organic cosmetics market. Moreover, companies are constantly advertising organic cosmetics on social networking sites such as Facebook, Twitter, YouTube and other websites such as Instagram, through beauty bloggers to increase brand awareness. All these factors are anticipated to boost adoption of organic cosmetics in developed and developing countries across the globe," said Karan Chechi, Research Director with TechSci Research.

Dubai consumer electronics market to be worth over US$3 billion by 2020

A Dubai Chamber of Commerce and Industry (DCCI) analysis, released during GITEX Technology Week 2016, has predicted that the Dubai consumer electronics market will grow at 4.7% over the next four years to exceed US$3 billion by 2020.

The analysis highlights Dubai’s growing retail sales activity despite mounting pressure from low oil prices and rising global economic uncertainty. Such resilience is attributed to solid fundamentals that include rising population and incomes together with a steady influx of tourists to the emirate. Dubai’s young population in particular is interested in technological developments and keep up to date with the latest innovations. In addition, many consumers see electronic gadgets such as smartphones, tablets and smart watches as status symbols.

According to the report, based on latest UAE retail sales data from Euromonitor, the portable consumer electronics subcategory is expected to keep its lead with a 2020 sales forecast of US$1.27 billion. The computers and peripherals subcategory is to retain its size at US$937 million, while in-home consumer electronics is expected to hit US$900 million. The in-car entertainment subcategory will remain flat however, with a sales forecast of US$23 million.

In terms of future growth, in-home consumer electronics has a CAGR forecast of 7.6% between 2015 and 2020, while portable consumer electronics is in next place with a CAGR of 6.4%. Growth is set to cool off in the computer and peripherals subcategory with a CAGR forecast of 0.9%; while in-car entertainment is expected to have a CAGR of 0.7% over the forecast period.

The analysis estimates Dubai’s consumer electronics market size in 2015 at US$2.4 billion after effectively expanding at a CAGR of 8.9% over the past five years.

Source: DCCI, Dubai Statistics Centre, Euromonitor. Dubai consumer electronics market size (US$ billion)

Total sales for the category stems from portable consumer electronics (US$930 million), computers and peripherals (US$902 million), in-home consumer electronics (US$621 million) and in-car entertainment (US$22 million).

In terms of growth, in-home consumer electronics has led the four sub-categories with a CAGR of 17% between 2010 and 2015, while computers and peripherals followed with a CAGR of 6.9%, and portable personal electronics came in third with a CAGR of 6.8%. In-car entertainment shrank at a negative CAGR of -3.5% over the same period.

Market observers indicate that the main trend seen last year in consumer electronics sales is the gradual move towards more compact and multifunctional devices, especially those that offer Internet connectivity. Tablets and smartphones enjoyed solid growth in sales. However, the increasing quality, processing power, and range of applications offered by these devices are taking market share from other items, such as digital cameras, portable MP3 players, digital video disc (DVD) players, laptops and desktops.

Dubai’s electronics and appliance specialist retailers continue to be the leading channel in consumer electronics as they have a wide product selection and price range, and can offer expert advice and tailored recommendations.

Consumer electronics distribution breakdown (%)

Outlets (% share in sales)	2010	2015	% change
Store-Based Retailing
Hypermarkets	32.8	42.4	+29.3%
Electronics and appliance specialist retailers	46.7	43.7	-6.4%
Mixed retailers	6.2	2.0	-67.7%
Other non-grocery specialists	11.1	8.4	-24.3%
Non-store retailing
Internet retail	3.1	3.5	+12.9%

Source: DCCI, Euromonitor

It is worth noting that the number of electronics and appliance specialist retailer outlets is strongly linked with the opening of new malls and shopping centres. At the same time, leading hypermarket chains such as Carrefour and Lulu are offering wide product ranges at very reasonable prices.

The strong presence of shopping malls in the emirate has limited the size of the Internet retailing market. However, store-based electronics retailers are realising a complementary Internet retailing site is becoming increasingly important to drive sales of consumer electronics to their physical stores, with many consumers checking prices and models online before or during shopping trips.

Another subcategory, home audio and cinema, has benefited greatly from the residents’ frequent purchases and product upgrades. Sales volumes rose by 16% last year despite high price tags. A similar growth rate is seen in sales of smart TVs, which gained in popularity at the expense of a -28% decline in demand for conventional TVs.

Euromonitor: tech playing larger role in toys and games growth

The global toys and games market is poised for growth as favourable demographics in emerging markets, along with a tent pole* movie release schedule, are expected to support a 4.5% CAGR through 2020.

Global market research company Euromonitor International has found that global sales of toys and games reached US$179.7 billion in 2015 with in-game purchases and construction toys accounting for 30% of sales across the industry.

In-game purchases were the biggest driver of revenue growth for video games, increasing 21% in 2015 to reach US$44.6 billion. Mobile games reliant on purchases and the proliferation of smartphones was the main driver, but in-game purchases are becoming common in console and computer games.

Construction toys remained the fastest growing category globally for the eighth consecutive year, and the only segment to see double-digit growth at 14.2% within traditional toys in 2015.

“The release of Star Wars last year was the most significant growth driver within traditional toys with licensed LEGO construction toys recording a 16% increase,” Mykola Golovko, Project Manager at Euromonitor International, says.

Licensed toys totalled US$20.6 billion last year, translating to a 10% increase globally. While toys will see continued influence from licensing, new technologies will lead forecast growth for video games.

Virtual reality (VR) gaming had a limited impact in 2015 with only 2 million headsets sold. However, new products are expected to bring the technology to a wider audience in the period 2016 to 2020.

“With the release of Oculus Rift, HTC Vive and PlayStation VR in 2016, the market is primed to see strong growth in the near future with annual sales reaching 25 million units by 2020,” Matthew Hudak, toys and games Industry Analyst at Euromonitor International, says.

*Tent pole movies contribute heavily to their creators' revenues and often come with merchandise tie-ins.

Technavio outlines India fashion e-retail market

• Men’s clothing segment is the dominant shareholder in the market
• Key vendors—Amazon, Flipkart, Snapdeal, Jabong, and Yepme

The availability of a wide array of payment options and products, broader reach, and lower costs are encouraging online shopping for consumers in India, says Technavio’s analysts, who predict that the online fashion retail market in India will grow at a CAGR of almost 17% between 2016 and 2020.

Online shopping sites offer customers the opportunity to choose between a number of payment methods such as debit cards, credit cards, cash on delivery (COD), electronic wallets, smart cards, Internet banking, and demand drafts. Favourable demographic factors, better return policies, and increasing adoption of digital and push marketing by vendors are some of the other factors that will contribute to the growth in the online fashion retail market in India during the forecast period.

“The distribution of users between mobile applications and websites is an ongoing trend in the market. Mobile apps have a tremendous impact on the growth of the online fashion retail market in India as they offer a faster alternative to mobile web browsing for consumers to shop on the go. Key players in the market are coming up with more sophisticated fashion apps designed to leverage each functionality on specific operating systems such as Windows, Android, and iOS. Online retailers are emphasising on finding a balance between mobile applications and websites to cater to the masses who prefer shopping online,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.

In 2015, men's clothing online accounted for around 53% of the market share to dominate the online fashion retail market. However, more women in the country are likely to be employed and empowered financially in the coming years, thereby boosting growth in the women’s clothing online segment. Furthermore, hectic lifestyles and time crunch are encouraging women to transition towards online shopping rather than visit brick-and-mortar stores. The availability of premium women’s clothing is also projected to increase purchases and add more revenue by 2020.

The key players in the online fashion retail market in India include Amazon, Flipkart, Snapdeal, Jabong, and Yepme. Intense competition prevails in this market with most players selling broadly similar products. However, the global players like Amazon and eBay are offering an impressive range of fashion products, which has posed a tough challenge for regional players like Flipkart and Snapdeal. According to Technavio, the purchase decision of consumers is price-dependent so vendors need to focus on pricing strategies and the provision of innovative services. Most users prefer COD and conduct a price comparison before making a purchase, the research firm added.

PwC upbeat about digital entertainment and media, traditional media resilience

Source: PwC website.

PwC Middle East has launched Middle East and Africa insights from PwC’s 16th annual edition of the Global Entertainment & Media Outlook 2015-2019* (Outlook) at the Dubai Film Market on December 10, 2015.

According to the Outlook, the rise of mobile Internet is an important opportunity for data-driven advertising. Mobile Internet subscribers in the Middle East and Africa are expected to grow at a CAGR of 21.9% to 2019, and global smartphone connections are forecast to double from 1.92 billion in 2014 to 3.85 billion in 2019 (half the world’s population). PwC forecasts that the global mobile Internet advertising spend will be second only to search spend, surpassing display by 2018, growing at a CAGR of 23.1%.

In the Middle East and Africa, entertainment and media spend will increase from US$38.8 million in 2014 to US$61.1 million in 2019. Consumers now want flexible, on-demand TV and film viewing across platforms, with over the top (OTT)/streaming reaching US$19.2 billion globally by 2019.

In the Middle East, Saudi Arabia is expected to have the highest film market revenue growth (albeit from a low base) at a CAGR of 18.5% from 2014-2019, driven by OTT/streaming and because there is no cinema sector in the country. In the UAE, popular TV and film intellectual property (IP) is going omnichannel. It is being integrated beyond the big screen into leisure attractions, including several upcoming theme parks. The UAE has a relatively large filmed entertainment industry for the region, expected to reach US$141.9 million by 2019.

Philip Shepherd, PwC Middle East’s Entertainment and Media Partner said: “With the availability of all digital resources at our fingertips, consumers will choose the most convenient, flexible and fastest methods to connect digitally.”

Jayant Bhargava, Middle East Digital Media and Entertainment Partner with Strategy& (formerly Booz & Company) said: “Time spent with media and video viewing is at an all-time high. Proliferation of devices and connectivity is driving a culture of media snacking and multitasking. Today, consumers have access to a wide range of content and a multitude choice of how and when to view it. This is driving an explosion in video content and new genres are being introduced by emerging artists world over.”

Globally, worldwide entertainment and media revenues will rise at a CAGR of 5.1% over the coming five years, from US$1.74 trillion in 2014 to US$2.23 trillion in 2019, PwC said.

Global highlights include:

The content experience trumps delivery platforms

PwC notes that consumers disregard distinctions between ‘digital’ and ‘non-digital’, instead exploiting the digital medium in what, when and how they consume. "In making these choices, they’re migrating to offerings that combine relevance and convenience - attractive content, easy discovery, social community - with an inspiring, personalised experience, however it’s delivered," the company noted.

As a result, non-digital media will still contribute well over 80% of global consumer revenues in 2019. Spending on live music ticket sales and cinema box office will rise at a combined global CAGR of 4.7% to 2019, outpacing overall consumer spending at 2.9%. In China, box office revenues will rise at a CAGR of 15.5%.

Marcel Fenez, PwC’s Global leader, entertainment and media, comments: "Digital or non-digital - for consumers it’s all about content experiences. Given the wide variations in consumer preferences, the challenge for entertainment and media companies is to blend data insights and consumer intuition to maximise the value of the experiences they offer. The prize for achieving this is heightened by the fact that the consumer has never been more up for grabs than today."

Advertising growth is primarily digital

Turning to advertising, total global advertising revenues will rise at a CAGR of 4.7% to 2019. Again there will be wide variations by territory, with Indonesia the fastest-growing ad market at a CAGR of 12.9% to 2019. Like consumer revenues, advertising will see digital growth and non-digital resilience: while global digital advertising revenue will rise at a 12.2% CAGR against just 1.2% for non-digital advertising, non-digital will still contribute over 60% of global ad spend in 2019.

The direction is toward digital, however. By 2019, digital advertising as a whole - including digital out-of-home - will account for 38.7% of total global advertising revenue, up from just 16.6% in 2010. Mobile Internet advertising will surge at a 23.1% CAGR to 2019, and video advertising spend globally will rise at a CAGR of 19.5%, supported by a near-doubling of global smartphone connections to 3.85 billion in 2019.

Alongside Internet advertising, digital out-of-home advertising (DOOH) will be another high-growth area, with revenues rising at a 13.2% CAGR. Given the high costs of upgrading OOH to digital formats, the most lucrative markets for DOOH advertising will be major cities. By 2019, Singapore will see DOOH advertising account for 60.4% of total OOH advertising revenue.

Consumers migrate to new media consumption behaviours

Underlying the trends in entertainment and media spending detailed in the Outlook is the migration by consumers worldwide to new ways of consuming content. One of the clearest shifts is in TV and video consumption, with consumers increasingly demanding high-quality original programming in a flexible, on-demand manner across numerous devices - thus enabling ‘binge viewing’ and greater convenience. OTT services offer the best outlet for this type of consumption.

A further shift toward social/casual gaming is underway, spending on which will exceed traditional gaming in nine markets by 2019, including India. While territories with long-established console and PC game markets continue to be dominated by traditional gaming revenue, the global growth of social/casual gaming will create a US$22.52 billion market by the end of the forecast period.

Newspaper consumption is also changing, with consumers increasingly willing to pay for premium content. Online paywalls are now making up for newspapers’ lost print circulation revenues globally, with a wave of subscription offerings boosting newspapers’ digital circulation revenues to nearly US$2.5 billion in 2014. In aggregate, as digital subscription revenues gain momentum globally and print subscriptions continue to shrink, total global newspaper circulation revenue is set to record year-on-year increases - a pattern that began in 2013.

*PwC’s 16th annual update of the Global Entertainment & Media Outlook 2015-2019 (Outlook) provides a single comparable source of five-year forecast and five-year historic consumer and advertiser spending data and commentary, for 13 entertainment and media segments, across 54 countries. Segments covered by the Outlook include TV subscriptions and licence fees, TV advertising, Internet access, radio, Out-of-home advertising, Video games, Filmed entertainment, newspaper publishing, Magazine publishing, Business-to-business, Internet advertising, book publishing and Music. Information may not align with the online version as the data is constantly updated. Refer to the online Outlook as the most up-to-date source of consumer and advertising spend data.

Luxury market in Asia Pacific slowing down but long term still glitters

The Luxury Goods Retailing Market in Asia-Pacific, 2014-2019 Market and Category Expenditure and Forecasts, Trends, and Competitive Landscape report from ReportsnReports says Japan will remain the largest luxury goods market in Asia Pacific while China will see a slowdown.

Luxury retail sales in the Asia-Pacific region has been a bright spot in the past, driven by emerging luxury markets. The economic slowdown in China has however reduced Chinese spending on luxury goods in 2014, and growth has slowed elsewhere in the region. Luxury retailers are slashing prices to attract shoppers while governments are exempting taxes and relaxing visa restrictions in attempts to increase tourist spending. 

Jewellery, watches, and accessories make up the largest and fastest growing category in the region, driven by higher spending on jewellery and watches by Chinese, Japanese, and Korean consumers. The Hong Kong luxury goods market is struggling due to political unrest and reduced Chinese spending. Luxury tax exemption is expected to boost luxury goods consumption in Indonesia. Social messaging apps are a trending marketing channel for luxury brands, as the digital channel is influencing the purchasing decisions and pattern of consumers.

Over the longer term, the luxury goods retail sales market in Asia-Pacific will reach US$134.9 billion by 2019, growing at a CAGR of 7% from 2014 to 2019. India's luxury goods market is the fastest growing in Asia-Pacific, driven by rising disposable income, growing fascination with luxury brands, and the desire of high earners to differentiate themselves from others.

LVMH, Ralph Lauren, Coach, Compagnie Financiere Richemont (Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen, Panerai and Montblanc), Kering (includes Gucci, Bottega Veneta, Alexander McQueen, Balenciaga, Stella McCartney, Boucheron, Girard-Perregaux, Ulysse Nardin, Puma, Cobra, and Tretorn), Tiffany and Company, the Burberry Group, Hermès International, Prada and Salvatore Ferragamo Group are mentioned.

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Read the WorkSmart Asia blog post about the Middle Eastern love for luxury handbags