Decades of rapid industrialisation in Asia as well as a rising prevalence of air-borne diseases across the globe has fuelled the global Air Purifier market. Valued at US$10.6 billion in 2020, it is projected to reach US$20.82 billion by 2026, growing at an annual rate of 14.1% between 2019 and 2026.
Asia Pacific’s ageing market hit US$3.2 trillion in 2020, and is expected to expand rapidly by 43% in a short span of 5 years. By 2030, 32% of the APAC population will be over 50 years old, and projected to contribute 52% of the total consumer expenditure.
The GDP of Southeast Asia (SEA) has skyrocketed over 30% over the past 10 years, reaching US$ 3.11 trillion in 2020 even amidst the global pandemic.
As the Korean Wave brought Korean pop music, drama, and celebrities to the global stage, it also helped to export Korea’s consumer lifestyle products such as cosmetics, food and technology. According to the Korean Foundation for International Cultural Exchange (KOFICE), K-Wave exports amounted to US$12.3 billion in 2019, a 22.4% increase from 2018.