Southeast Asia Is the Biggest Export Destination for Chinese Products: Euromonitor International
Chinese exports to Southeast Asia surged to USD587 billion in 2024.
Euromonitor International's whitepaper on The Rise of Chinese Brands in Southeast Asia highlights how Chinese players have leveraged product innovation and pricing strategies. The whitepaper offers a strategic analysis of Southeast Asia's major consumer market, focusing on growth opportunities for Chinese brands in key ASEAN-6 economies.
The ASEAN-6 -- Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, represent 95% of Southeast Asia's USD4 trillion GDP. This momentum presents opportunities for Chinese brands to continue gaining ground in the region.
Tim Chuah, senior global insight manager at Euromonitor International, said: 'Chinese companies are rapidly gaining ground in the region, particularly in sectors where they hold clear competitive advantages—electric vehicles, consumer electronics, and home appliances."
'More recently, with Chinese brands' aggressive expansion into industries such as beauty, food and foodservice, incumbents face new challenges that are reshaping competition across Southeast Asia.'
Chinese brands threaten longstanding dominance of East Asian rivals
Chinese brands have emerged as key drivers of growth in Southeast Asia's appliances market. In the air conditioning category, between 2015 and 2024, Japanese firms lost 7% market share, while Chinese brands grew from 9% to 25%.
Chinese beauty brands are also rapidly gaining ground, leveraging affordable pricing and digital-savvy strategies to challenge competitors in the region. Chinese brands recorded a remarkable CAGR of 115% in the Southeast Asian mass skincare market between 2019 and 2024.
Appetite for innovation fuels Chinese brand expansion
Southeast Asia's love affair with coffee and milk tea continues to thrive, with Chinese players at the forefront of this trend. Driven by a projected 9% annual growth through 2029, the region presents a compelling opportunity for brands seeking growth beyond China's intensifying competition.
Snacks and dairy products from China are also gaining momentum with double digit CAGR growth from 2019-2024, projected to be Asia Pacific's fastest growing region. Changing consumers taste and curiosity to try unique flavours are giving Chinese players an opportunity to showcase their broad product portfolio.
Chinese pet care manufacturers are moving beyond contract production, and using their expertise to develop their own brands, both domestically and internationally. The region's pet care market is expected to grow at a CAGR of 9% from 2025 to 2030.
Ecosystem partnerships are key as Chinese digital wallets face local adoption hurdles abroad
Chinese digital wallets remain mostly as travel payment tools for Chinese tourists, with limited everyday adoption due to strong local payment networks and presence. In such markets, forming ecosystem partnerships is crucial for gaining local traction.
For more information, see Euromonitor's The Rise of Chinese Brands in Southeast Asia whitepaper.
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