Asean next battleground for consumer firms

Singapore

ASEAN countries will become one of the largest markets and a "must-win battleground" for consumer-goods companies in the next five years, Accenture has found through a study involving more than 1,800 consumers in the region.

By 2020, Asean is expected to have a US$3 trillion economy and a population of close to 600 million people. With nearly 100 million people joining the consuming class or moving into more affluent consumer segments, consumer spend in the region is expected to double to US$2.3 trillion a year, with more than US$770 billion of new money generated by the newly-minted spenders.