Southeast Asia’s consumer landscape is undergoing a profound transformation. Affordability pressures, digital disruption, and the rise of local and regional brands are reshaping the fast-moving consumer goods (FMCG) industry, according to the Southeast Asia: What’s Happening with Consumers and Consumer Products report released by Bain & Company and NielsenIQ (NIQ) .

As Southeast Asia’s key economies (SEA-6: Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam) expand, private consumption is projected to grow by 8% annually to nearly USD $5 trillion by 2035, potentially surpassing North America.

This momentum is fueled by rising affluence and rapid urbanization in the region, with Vietnam and Thailand’s urbanization rate each expected to rise 7% over the next decade.

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