The Asia (Japan, South Korea, China, India, ASEAN) flexible display market consists of displays that can either be bent, folded or rolled. Flexible displays find application in smartphones, televisions, tablets, laptops, smartwatches and other consumer electronics devices. The global flexible display market is currently dominated by South Korean and Japanese manufacturers who are continuously investing in research and development to introduce innovative display technologies.
The global Asia (Japan, South Korea, China, India, ASEAN) flexible display market is estimated to be valued at US$ 12 Billion in 2025 and is expected to exhibit a CAGR of 35% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Asia (Japan, South Korea, China, India, ASEAN) Flexible Display Market is Expected to Grow Rapidly with Increasing Adoption of Flexible Smartphones and Wearable Devices
The increasing adoption of flexible smartphones and foldable devices is a major driver propelling the growth of the Asia (Japan, South Korea, China, India, ASEAN) flexible display market. Major smartphone manufacturers have been developing foldable phones and companies like Samsung and Huawei have already launched their foldable models. Moreover, the growing demand for flexible wearable devices like smartwatches and fitness bands is also fueling the need for flexible displays. Flexible displays allow device manufacturers to design innovative and attractive products. Their lightweight and unbreakable properties make them suitable for next generation electronic devices. Rapid technological advancements have made flexible displays cheaper and more efficient over the years. This has enabled mass production which is another factor boosting the adoption of flexible displays across various end use industries.
Segment Analysis
The Asia Pacific (Japan, South Korea, China, India, ASEAN) food ingredients market is segmented into Nutrition Enhancers, Sweeteners, flavor systems/flavoring agents, binders and texturizers. Among these, the sweeteners segment currently dominates the market with a share of around 30% in 2020. The extensive usage of sugar and high fructose corn syrup in food and beverage processing across the region drives the sweeteners segment. Additionally, the growing health-consciousness is shifting consumer preference towards low calorie sweeteners which is further fueling growth of the sweeteners segment in the Asia Pacific region.
PEST Analysis
Political: The regional governments are investing heavily in developing food processing infrastructure to stimulate business activities. Many nations have also simplified import regulations to encourage foreign investments in the sector.
Economic: Rapid economic development, rising income levels and growing population together create strong demand for packaged food items in Asia Pacific. Expanding middle-class favors market growth.
Social: Urbanization, hectic lifestyles and more women working outside home increase demand for convenience food products. Customers also seek healthier and natural food ingredients.
Technological: Food companies adopt advanced technologies like artificial intelligence to develop innovative ingredients. Automation facilitates higher production while maintaining quality standards.
Key Takeaways
The Asia (Japan, South Korea, China, India, ASEAN) Flexible Display Market is projected to reach over USD 58 billion by 2028, expanding at a CAGR of around 7% during the forecast period.
China dominates Asia Pacific’s food ingredients market with a share of over 30% in 2020 due to large population and growing food processing sector. India is expected to witness fastest growth during 2021-2028 on back of rising food exports, huge base of young consumers and favorable government policies promoting ‘Make in India’ initiative.
Key players operating in the Asia Pacific food ingredients market are Kerry Group, DuPont, Cargill, Archer Daniels Midland Company, Koninklijke DSM N.V. and Ingredion Incorporated. These players are focusing on expansions, mergers & acquisitions and new product launches to expand market presence and product portfolio. For instance, in 2021, Kerry Group announced plans to build a new manufacturing facility in Wuhan, China to meet the growing demand for savory solutions.
