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Asia-Pacific’s top fast moving consumer goods (FMCG) companies are expanding overseas, and their corresponding revenue contributions are rising faster than domestic earnings, according to a new report by Bain & Company. For the top 50 Asia-Pacific FMCGs (based on revenue earned in CY2022), overseas revenue growth reached 11% per year over the last 10 years (FY2012/13 to FY2022/23), surpassing domestic revenue growth of 7% annually, driven primarily by the international success of Japanese companies. Of the 16 Japanese companies that made the top 50 Asia-Pacific FMCG list, five or 31% earned over half their revenues from abroad, while the rest reported between 10% and 50% of revenues from overseas. Similarly, all South Korean FMCG companies in the study earned between 10% and 50% of revenues from international markets. In contrast, although China had the same number of FMCG companies making into the top 50 list as Japan, five or 31% are fully domestic while nine Chinese companies
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