Pet Food and Animal Feeds in
Indonesia: ISIC 1533
Euromonitor International
July 2024
PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport i
LIST OF CONTENTS AND TABLES
HEADLINES ................................................................................................................................. 1
INDUSTRY OVERVIEW ............................................................................................................... 1
Chart 1 Key Industry's Indicators 2018-2028 ............................................................ 1
PRODUCTION SCORECARD ..................................................................................................... 2
Summary 1 Scorecard of Production Pillar 2018-2028 .................................................... 3
Chart 2 Production Value Regional Comparison 2023 .............................................. 4
Chart 3 Production Value per Capita Regional Comparison 2023 ............................ 4
Chart 4 Production Value Growth Regional Comparison 2018-2028 ........................ 5
Chart 5 Future and Absolute Growth of Production Value Regional
Comparison 2023-2028................................................................................ 5
Chart 6 Production Value 2018-2028 ........................................................................ 6
Chart 7 Production Value by Category 2018-2023.................................................... 6
Chart 8 Production Value by Category 2023-2028.................................................... 7
Chart 9 Production Value per Employee 2018-2023 ................................................. 7
Chart 10 Exports 2018-2023 ....................................................................................... 8
Chart 11 Exports Regional Comparison 2023 ............................................................. 8
COST STRUCTURE .................................................................................................................... 9
Chart 12 Cost Structure Comparison 2023 ................................................................. 9
Chart 13 Cost Structure 2018-2023 ............................................................................ 9
Chart 14 Prices of Selected Commodities and Other Economic Indicators 2023
Q3-2024 Q4, Index..................................................................................... 10
Chart 15 Profit and Profit Margin 2018-2023............................................................. 11
Chart 16 Average Salary 2018-2023......................................................................... 11
Chart 17 Labour Costs and Employee Productivity Comparison 2018-2023 ............ 11
FIRMOGRAPHICS ..................................................................................................................... 12
Chart 18 Number of Companies by Size 2018/2023 ................................................. 12
Chart 19 Competitive Landscape Structure by Company Size 2018/2023 ............... 13
Chart 20 Top Companies’ Ranking 2018-2023 and % of Production Value 2023 ..... 13
MARKET OVERVIEW ................................................................................................................ 13
CONSUMPTION SCORECARD ................................................................................................. 14
Summary 2 Scorecard of Consumption 2018-2023 ....................................................... 14
Chart 21 Market Size Regional Comparison 2023 .................................................... 14
Chart 22 Market Size per Capita Regional Comparison 2023................................... 15
Chart 23 Market Size Growth Regional Comparison 2018-2023 .............................. 15
Chart 24 Market Size Absolute and Average Historic Growth Regional
Comparison 2018-2023.............................................................................. 16
Chart 25 Market Structure by Buyer 2018-2023........................................................ 16
Chart 26 Market Structure 2018-2023....................................................................... 16
Chart 27 Market Structure by Category 2018-2023 .................................................. 17
Chart 28 Imports 2018-2023 ..................................................................................... 17
Chart 29 Imports Regional Comparison 2023 ........................................................... 18
ATTRACTIVENESS INDEX ....................................................................................................... 18
Chart 30 Attractiveness Index in Selected Industries 2023 ....................................... 18
Chart 31 Pet Food and Animal Feeds Attractiveness Index Comparison Across
All Industries 2023...................................................................................... 19
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport ii
Chart 32 Attractiveness Index Methodology ............................................................. 19
ECONOMIC CONTEXT AND LABOUR MARKET ..................................................................... 20
Summary 3 Economic Context and Labour Market 2023-2028 ..................................... 20
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 1
PET FOOD AND ANIMAL FEEDS IN
INDONESIA: ISIC 1533
In 2023, Indonesia’s pet food and animal feeds industry grew by 6.3% and was the third
largest regionally in terms of production value. The industry’s turnover is forecast to increase at
a CAGR of 7.2% over 2023-2028. This industry report provides comprehensive data on
production, consumption, imports, exports, costs, profitability, and the competitive landscape.
Key indicators are benchmarked against other regional countries.
HEADLINES
▪ With production value of USD10.9 billion, Indonesia accounts for 2.9% of the Asia Pacific total
in 2023
▪ The industry’s exports share decreases in 2023 to 1.1% of total production output
▪ The industry’s profitability increases and stands at 31.8% of production value in 2023, the
highest regionally
▪ The costs of the industry increase by 5.8% in 2023, largely driven by rising B2B costs
▪ The total number of companies increases in 2023, to 61,185 units
▪ The industry is concentrated, with the top five companies generating 53.3% of total production
value in 2023
▪ Cheil Jedang Indonesia Pt is the largest company in Indonesia, generating 19.8% of the
industry’s total production value in 2023
▪ Indonesia has the fourth largest market size for pet food and animal feeds regionally, with
demand reaching USD13.6 billion in 2023
▪ B2B drives market demand, with B2B spending representing 98.1% of total demand in 2023
▪ The market is dominated by domestic suppliers, as imports account for 2.5% of total market
size in 2023
INDUSTRY OVERVIEW
Chart 1 Key Industry's Indicators 2018-2028
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 2
Source: Euromonitor International from official statistics, trade associations
Pet food and animal feeds industry turnover in Indonesia ranks third in the Asia Pacific region.
The industry is forecast to rank fourth regionally in 2028. The industry continued to grow over
2023. In terms of absolute industry turnover growth, Indonesia is projected to rank fourth in the
Asia Pacific region. This indicates stronger B2B demand potential from the pet food and animal
feeds industry in Indonesia in comparison to other regional countries.
The pet food and animal feeds industry is mainly dependent on demand growth in the
domestic markets, as exports accounted for 1.1% of total production output in 2023. Indonesia
ranks 12th in the Asia Pacific region in terms of exports share.
The industry’s profitability increased and reached 31.8% in 2023. Indonesia ranks first in the
Asia Pacific region in terms of the pet food and animal feeds industry’s profitability.
PRODUCTION SCORECARD
The Production Scorecard is a benchmarking tool to evaluate the industry’s performance
within the region. The scorecard considers indicators in seven key pillars that are at the core of
the industry’s competitiveness. The scorecard is built by ranking countries in the regional
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 3
context and helps to quickly identify country-specific opportunities. Unless otherwise noted, all
values expressed in this report are in US dollar terms, using y-o-y exchange rates. Data for
2024-2028 period are forecasts. All forecast data are expressed in current terms.
The pet food and animal feeds industry in Indonesia ranked third in the Asia Pacific region by
production value in 2023. Higher production value levels indicate higher potential B2B demand
from the industry and stronger supply network which supports production.
The industry ranked eighth in the region in terms of historic production value growth,
indicating that the pet food and animal feeds industry in Indonesia is in developing stage. In
terms of future absolute turnover growth, the industry is predicted to rank above regional
countries’ average, indicating expanding B2B demand potential from the industry.
The pet food and animal feeds industry in Indonesia ranked first in the region by profitability in
2023. This indicates lower operating costs of the industry and competitive advantage against
rivalling countries.
The industry ranked 12th in the Asia Pacific region in terms of exports share in 2023. The
industry ranked below regional countries’ average, indicating high reliance on the demand in the
domestic market.
Summary 1 Scorecard of Production Pillar 2018-2028
Indicator Regional Ranking (out of 19)
Production value, 2023 3
Historic production value growth, % CAGR 8
2018-2023
Future absolute production value growth, 4
2023-2028
Future production value growth, % CAGR 8
2023-2028
Profitability, 2023 1
Exports share of total production, 2023 12
Exports value growth, % CAGR 2018-2023 5
Source: Euromonitor International from official statistics, trade associations
The production value indicator helps to evaluate the industry’s size, supply chain network and
B2B demand. Higher production value levels indicate greater potential B2B demand from the
industry and a stronger supply network, which supports production.
Historic production value growth indicates the industry’s average annual production value
growth over the period 2018-2023. The historic growth rate indicates whether the industry is
mature or in the developing stage.
Future absolute production value growth indicates the industry’s absolute production value
growth in nominal terms over the period 2023-2028. High future absolute value growth indicates
expanding production output of the industry and increasing B2B demand potential from the
industry.
The future production value growth indicates the industry’s average annual production value
growth over the period 2023-2028. The indicator helps to evaluate the industry’s future growth
potential. A high average future growth rate indicates that the industry is in the development
stage, with untapped B2B demand potential from the industry.
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Profitability indicates the industry’s profits relative to total production value in 2023. The
indicator helps to evaluate the industry’s financial stability, cost base and regional
competitiveness. High profitability indicates a strong financial position for the industry, lower
operating costs in the country and the industry’s competitive advantage over rival industry in
other countries.
Exports share of total production indicates the industry’s export value relative to total
production value in 2023. The indicator helps to evaluate the industry’s competitiveness in the
global market and the diversification of sales channels. A high exports share indicates that the
industry is competitive globally and has a diversified sales network.
Exports value growth indicates the industry’s average annual exports value growth over the
period 2018-2023. The indicator helps to evaluate the industry’s competitiveness in the global
market. High average growth in exports indicates that the industry remains competitive in the
global market and/or has gained greater market share in the global market.
Chart 2 Production Value Regional Comparison 2023
Source: Euromonitor International from official statistics, trade associations
Note: Production value shows total revenue (including export revenue) generated by all locally registered
companies, the core activities of which fall under the industry definition range. Measured at basic
prices/MSP. Also called turnover or turnover of local producers.
Chart 3 Production Value per Capita Regional Comparison 2023
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Source: Euromonitor International from official statistics, trade associations
Chart 4 Production Value Growth Regional Comparison 2018-2028
Source: Euromonitor International from official statistics, trade associations
Chart 5 Future and Absolute Growth of Production Value Regional Comparison 2023-
2028
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Source: Euromonitor International from official statistics, trade associations
Note: Top right quadrant of the chart indicates the best performing industries that will show above average
annual future growth and high absolute production value growth over the period 2023-2028. Bottom right
quadrant of the chart indicates mature industries that will show below average annual future growth but
high absolute production value growth over the period 2023-2028. Top left quadrant of the chart
indicates emerging industries that will show above average annual future growth but small absolute
production value growth over the period 2023-2028. Bottom left quadrant of the chart indicates
underperforming industries that will show below average annual future growth and small absolute
production value growth over the period 2023-2028.
Chart 6 Production Value 2018-2028
Turnover in 2023 – USD10.9 billion
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 7 Production Value by Category 2018-2023
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Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 8 Production Value by Category 2023-2028
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 9 Production Value per Employee 2018-2023
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 8
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Production value per employee dynamics help to evaluate the productivity of the industry. Expanding
production value per employee indicates increasing productivity levels and higher future turnover growth
potential for the industry.
Chart 10 Exports 2018-2023
Export value in 2023 – USD153 million
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Exports show the value of goods exported to foreign countries, including all production and other costs
incurred up until the goods are placed on board the international carrier for export, but excluding
international insurance and further transportation costs.
Chart 11 Exports Regional Comparison 2023
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 9
Source: Euromonitor International from official statistics, trade associations, trade press, company research
COST STRUCTURE
Industry costs increased by 5.8% in 2023. The change was largely impacted by B2B costs,
which represented 92.7% of total industry expenditure. In addition, average salary in pet food
and animal feeds grew by 7.2% over 2023. Meanwhile, turnover per employee increased by
8.9% over the year.
In 2023, the pet food and animal feeds industry had lower labour costs in comparison to the
manufacturing sector average in Indonesia. On the other hand, B2B costs were higher than the
manufacturing sector average.
Chart 12 Cost Structure Comparison 2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 13 Cost Structure 2018-2023
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 10
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Total costs equal production value less profits.
B2B costs show the total value of the goods and services consumed as inputs for a process
of production of goods and/or provision of services. The goods and services may be either
transformed or used up by the production process. Intra-industry trade, which is also included
(the industry itself is among its major buyers), refers to the exchange of products within the
same industry definition range.
Labour costs are defined as the total remuneration, in cash or in kind, payable by an
enterprise to an employee in return for work done. No labour costs are payable in respect of
unpaid work undertaken voluntarily, including the work done by members of a household within
an unincorporated enterprise owned by the same household.
Taxes less subsidies refer to taxes less subsidies on production and includes production
taxes paid by the industry or subsidies received by the industry. Excluded are specific taxes on
products such as VAT, petrol tax, tobacco tax and alcohol tax.
Chart 14 Prices of Selected Commodities and Other Economic Indicators 2023 Q3-2024
Q4, Index
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Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 15 Profit and Profit Margin 2018-2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Profits are calculated as the difference between production and total costs (B2B costs, labour costs,
taxes less subsidies). The profit margin is calculated as profits divided by production value, and is
measured as a percentage. Profit and profit margin dynamics help to evaluate the financial stability and
competitiveness of the industry. Stable profitability of the industry indicates that the industry is capable of
maintaining its financial stability and competitiveness, indicating a stable future outlook in terms of B2B
demand potential.
Chart 16 Average Salary 2018-2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Average salary shows labour costs divided by number of employees.
Chart 17 Labour Costs and Employee Productivity Comparison 2018-2023
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Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Average salary and turnover per employee dynamics help to evaluate the industry’s competitiveness.
Faster growth in turnover per employee in comparison to average salary growth indicates that the
industry is capable of maintaining its competitiveness and can compensate for cost increases through
increased production output.
FIRMOGRAPHICS
The total number of companies operating in the industry continued to grow in 2023 to 61,185
companies. The industry can be considered concentrated, as the five largest companies
accounted for 53.3% of production value in 2023. The industry’s concentration increased over
the year. Cheil Jedang Indonesia Pt remained the leading company in Indonesia’s pet food and
animal feeds industry and accounted for 19.8% of production value in 2023.
Chart 18 Number of Companies by Size 2018/2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Number of companies shows the number of locally registered enterprises (regardless of capital origin),
the core activities of which fall under the industry definition range. An enterprise is an institutional unit in
its capacity as a producer of goods and services; an enterprise may be a corporation, a quasi-
corporation, a non-profit institution, or an unincorporated enterprise. Also includes zero employee firms
(sole traders) and the self-employed. Also called number of enterprises.
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 13
Chart 19 Competitive Landscape Structure by Company Size 2018/2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 20 Top Companies’ Ranking 2018-2023 and % of Production Value 2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
MARKET OVERVIEW
The pet food and animal feeds market in Indonesia ranks fourth in the Asia Pacific region. In
terms of absolute market size growth, Indonesia ranks fifth regionally. Demand for pet food and
animal feeds is largely driven by B2B demand, which generated 98.1% of total demand in 2023.
Over the year, B2B demand for pet food and animal feeds increased by 5.9%.
The pet food and animal feeds market in Indonesia is dominated by domestic companies, as
imports represented 2.5% of the total market size in 2023. The share of domestic companies
increased from 2.4% in 2018.
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 14
CONSUMPTION SCORECARD
The Consumption Scorecard is a benchmarking tool to evaluate the market’s performance
within the region. The scorecard considers indicators in five key pillars that are at the core of the
market’s competitiveness. The scorecard is built by ranking countries in the regional context and
helps to quickly identify country-specific opportunities.
Summary 2 Scorecard of Consumption 2018-2023
Indicator Regional Ranking (out of 19)
Market size, 2023 4
Market size absolute value growth, 2018-2023 5
Market size historic growth rate, % CAGR 11
2018-2023
Imports share in total market, 2023 17
Imports value growth, % CAGR 2018-2023 11
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Market size value indicates the total demand potential for specific goods or services. Higher
market size indicates higher demand potential from households, B2B and government buyers
within the country.
Market size absolute value growth indicates absolute demand potential growth in nominal
terms over the period 2018-2023. High absolute demand growth indicates expanding domestic
demand for specific goods or services.
Market size historic growth rate indicates the market’s average annual value growth over the
period 2018-2023. A high average market growth rate indicates that the market is in
development stage with untapped future demand potential for specific goods or services.
Imports share in total market indicates import value relative to total market size in 2023. The
indicator helps to evaluate demand and sales potential of foreign goods. A high import share
indicates high demand potential and sales potential for foreign goods in the country.
Imports value growth indicates average annual imports value growth over the period 2018-
2023. The indicator helps to evaluate demand and sales potential of foreign goods. High
average growth of imports indicates that the market remains open to foreign goods, and total
sales potential is expanding.
Chart 21 Market Size Regional Comparison 2023
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 15
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Market size shows the total value of industry-specific goods and/or services, whether produced
domestically or imported, that are sold in a country’s market. Measured at purchaser price/RSP.
Chart 22 Market Size per Capita Regional Comparison 2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 23 Market Size Growth Regional Comparison 2018-2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
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Chart 24 Market Size Absolute and Average Historic Growth Regional Comparison 2018-
2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Top right quadrant of the chart indicates the best performing markets with above average annual market
growth rate and high absolute market value growth over the period 2018-2023. Bottom right quadrant of
the chart indicates mature markets with below average annual market growth rate but high absolute
market value growth over the period 2018-2023. Top left quadrant of the chart indicates emerging
markets with above average annual market growth rate but small absolute market value growth over the
period 2018-2023. Bottom left quadrant of the chart indicates underperforming markets with below
average annual market growth rate and small absolute market value growth over the period 2018-2023.
Chart 25 Market Structure by Buyer 2018-2023
Market value in 2023 – USD13.6 billion
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 26 Market Structure 2018-2023
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Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 27 Market Structure by Category 2018-2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Chart 28 Imports 2018-2023
Import value in 2023 – USD305 million
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 18
Source: Euromonitor International from official statistics, trade associations, trade press, company research
Note: Imports show value of goods delivered at the frontier of the importing country, including any freight,
insurance and other costs incurred during transportation of goods from the port of origin, but before the
payment of any import duties or other taxes within the country. Includes re-exports.
Chart 29 Imports Regional Comparison 2023
Source: Euromonitor International from official statistics, trade associations, trade press, company research
ATTRACTIVENESS INDEX
Chart 30 Attractiveness Index in Selected Industries 2023
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Source: Euromonitor International
Note: Attractiveness index (AI) is a derivative variable, which gives a quick understanding of how the selected
industry performs in comparison with other industries in an economy. AI is based on a set of variables.
For each variable, all industries in the economy are ranked and get a corresponding rate from 1 at the
very bottom to 177 at the very top. When all ranks are available, a weighted average is calculated and
the corresponding percentile is assigned. The higher the AI, the better industry performance is.
Chart 31 Pet Food and Animal Feeds Attractiveness Index Comparison Across All
Industries 2023
Source: Euromonitor International
Note: The calculated index of attractiveness evaluates industry performance in particular economy for exact
year. Each measure of industry’s performance is compared across all industries in the country and is
assigned to a corresponding rank based on industry’s performance: the better the performance
is, the higher rank the industry reaches (the rank grades the scale of each parameter into 177 ranks;
industries are assigned to one of the 177 ranks according to criterion). The ranks are then weighted by
their importance and the final score is calculated as the weighted average. According to the final result
industry is being assigned to a particular percentile.
Chart 32 Attractiveness Index Methodology
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PET FOOD AND ANIMAL FEEDS IN INDONESIA: ISIC 1533 Passport 20
Source: Euromonitor International
ECONOMIC CONTEXT AND LABOUR MARKET
Summary 3 Economic Context and Labour Market 2023-2028
Economic Context
Per Capita Consumer Income 2023, USD 3,123
Per Capita Consumer Income Growth 2023- 7.9%
2028, % CAGR
Inflation Rate 2023/2028 3.7%/2.6%
Real GDP Growth 2023-2028 5.1%
Labour Market
Economically Active Population 2023, ‘000 147,659
Employment Rate 2023 68.8%
Wage per Hour 2023, USD 1.1
Wage per Hour in Manufacturing 2023, USD 1.1
Average Salary 2023, USD per annum 10,888
Commodities Market
Soybeans Price in 2024, USD per metric ton 445
Soybeans Price Change in 2024, % -25.5%
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Food Index in 2024, 2010 = 100 106
Food Index Change in 2024, % -15.2%
Commodity Fuel (Energy) Index in 2024, 2010 98.7
= 100
Commodity Fuel (Energy) Index Change in -7.7%
2024, %
Source: Euromonitor International from official statistics, trade associations, trade press, company research
© Euromonitor International
