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Food Retailing in Asia a Focus on the China, Indonesia India, Malaysia Philippines, Singapore, and Vietnam, Markets

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Food Retailing in Asia a Focus on the China, Indonesia India, Malaysia Philippines, Singapore, and Vietnam, Markets DEPARTMENT OF PRIMARY INDUSTRIES Food Retailing in Asia A focus on the China, Indonesia India, Malaysia Philippines, Singapore, and Vietnam, markets June 2009 Cover images: © Planet Retail www.planetretail.net Published by the Victorian Government Department of Primary Industries Melbourne, June 2009 Also published on www.dpi.vic.gov.au/agribusiness © The State of Victoria Department of Primary Industries 2006 This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968. Authorised by the Victorian Government, GPO Box 4440, Melbourne. ISBN 978-1-74217-621-5 (print) ISBN 978-1-74217-622-2 (Web) For more information visit the website at www.dpi.vic.gov.au or contact the DPI Customer Service Centre 136 186. Disclaimer This publication may be of assistance to you but the State of Victoria and its employees do not guarantee that the publication is without flaw of any kind or is wholly appropriate for your particular purposes and therefore disclaims all liability for any error, loss or other consequence which may arise from you relying on any information in this publication. Produced by: Agribusiness Group Department of Primary Industries 1 Spring Street Melbourne Victoria 3000 Author: Lucy Ridley Project Officer, Strategic Market Analysis DPI Agribusiness Group Editor: Clare Balmer Project Leader, Strategic Market Analysis DPI Agribusiness Group Food Retailing in Asia DPI Agribusiness Group EXECUTIVE SUMMARY This report provides an overview of the retail food sector in seven Asian markets, China, Indonesia, India, Malaysia, Philippines, Singapore and Vietnam. The report examines the current structure of the retail food sector in each of these markets as well as consumer spending habits, to identify emerging trends that Victorian food producers and exporters may seek to capitalise on. Food retailing in Asia comprises of many retail formats including wet and dry markets, street vendors, family owned grocery stores and supermarkets. In the major cities, there is a growing trend towards a modern retail format, hypermarkets and convenience stores as they have been proven to be popular amongst middle class consumers for their low prices and one stop shopping convenience. The modern retail format is becoming increasingly popular in the major cities of Asia and is growing at a fast rate. Strong economic growth has been a factor in the growth of the modern retail food sector in most Asian countries. Markets such as Singapore and Malaysia are well developed as are the major cities of China, particularly Shanghai and Guangzhou. From a socio-economic perspective, the selected countries have a number of demographic changes in common, such as a growing middle class, a growing youth market, rapid urbanisation, busier lifestyles with women entering the workforce in large numbers, and an increasing exposure to western products. These changes will continue to drive the development of the modern retail sector. Increased spending on non-essential items could see food sales drop in the future; however, food still remains an important component of retail sales at present. Despite this, the traditional wet and dry markets, sidewalk stalls and family owned grocery stores still dominate and cater for the majority of people, particularly those living in the rural areas and low income groups in urbanised areas. It is expected that these will decline in number as foreign investment and domestic chains compete for development sites. Asian consumers are not generally brand loyal and are relatively price sensitive with consumer preferences for small and convenient packaged foods. Premium Western food products are gaining popularity with younger age groups and within the middle to high income segments. Increased trade liberalisation with Singapore and Thailand has provided export opportunities for Victorian food companies. The recently signed Association of South East Asian Nations (ASEAN) - Australia-New Zealand Free Trade Agreement (AANZFTA) will assist the Australian agriculture and food industries through substantial tariff elimination for agriculture and food products with many South East Asian countries including Vietnam, Indonesia, Malaysia and the Philippines. i TABLE OF CONTENTS Executive Summary _____________________________________________________________ i Table of Contents_______________________________________________________________ii List of Tables and Figures _____________________________________________________ iv 1. Mainland China Retail Food Sector_________________________________________1 1.1 Socioeconomic Overview __________________________________________________________1 1.2 Opportunities for Victoria _________________________________________________________2 1.3 Major urban retail centres ________________________________________________________2 1.4 Retail Environment________________________________________________________________3 1.5 Retail Food Sector_________________________________________________________________3 1.6 Top 5 domestic and multinational grocery retailers ________________________________4 1.7 Retail Distribution Channels_______________________________________________________4 1.8 Consumer Spending_______________________________________________________________4 1.9 Consumer Trends_________________________________________________________________5 1.10 Future Outlook ___________________________________________________________________5 2. Indonesia Retail Food Sector_______________________________________________7 2.1 Socioeconomic Overview __________________________________________________________7 2.2 Opportunities for Victoria _________________________________________________________8 2.3 Retail Environment________________________________________________________________8 2.4 Top 5 Grocery Retailers ___________________________________________________________8 2.5 Foreign Ownership Restrictions____________________________________________________9 2.6 Consumer Spending_______________________________________________________________9 2.7 Future outlook __________________________________________________________________ 10 3. India Retail Food Sector______________ ___________________________________ 11 3.1 Socioeconomic Overview ________________________________________________________ 11 3.2 Opportunities for Victoria _______________________________________________________ 12 3.3 Government restrictions ________________________________________________________ 12 3.4 Retail Environment______________________________________________________________ 12 3.5 Consumer spending_____________________________________________________________ 14 3.6 Future outlook __________________________________________________________________ 14 4. Malaysia Retail Food Sector ______________________________________________ 15 4.1 Socioeconomic Overview ________________________________________________________ 15 4.2 Opportunities for Victoria _______________________________________________________ 15 4.3 Retail Environment______________________________________________________________ 16 4.4 Retail Distribution Channels_____________________________________________________ 17 4.5 Tariffs _________________________________________________________________________ 17 4.6 Halal Certification requirements_________________________________________________ 17 4.7 Consumer spending_____________________________________________________________ 17 4.8 Future Outlook _________________________________________________________________ 17 Food Retailing in Asia DPI Agribusiness Group ii 5. Philippines Retail Food Sector ___________________________________________ 18 5.1 Socioeconomic Overview ________________________________________________________ 18 5.2 Opportunities for Victoria _______________________________________________________ 19 5.3 Retail Environment______________________________________________________________ 19 5.4 Retail Food Markets _____________________________________________________________ 20 5.5 Market concentration ___________________________________________________________ 20 5.6 Retail Distribution Channels_____________________________________________________ 21 5.7 Consumer Trends_______________________________________________________________ 21 5.8 Future Outlook _________________________________________________________________ 21 6. Singapore Retail Food Sector ____________________________________________ 22 6.1 Socioeconomic Overview ________________________________________________________ 22 6.2 Opportunities for Victoria _______________________________________________________ 22 6.3 Retail Environment______________________________________________________________ 23 6.4 Market Concentration___________________________________________________________ 23 6.5 Mini-marts, convenience stores and petrol station stores _________________________ 24 6.6 Traditional Stores including dry markets, provision and sundry shops ____________ 24 6.7 Retail Distribution Channels_____________________________________________________ 25 6.8 Consumer Spending_____________________________________________________________ 25 6.9 Future outlook __________________________________________________________________ 25 7. Vietnam Retail Food Sector ______________________________________________ 26 7.1 Country Overview_______________________________________________________________ 26 7.2 Opportunities for Victoria _______________________________________________________ 27 7.3 Economic Reforms ______________________________________________________________
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