Source: Business Intelligence: Food and Drink, published by Zenith. The report includes 12 markets (Australia, Canada, China, France, Germany, India, Italy, Russia, Spain, Switzerland, the UK and the US) that account for 73% of total global adspend.
More from this source:
- Total FMCG adspend slumped 11% in 2020. It will only exceed 2019 levels in 2023, hitting US$30.3 billion.
- Zenith forecasts that FMCG digital adspend will increase from US$12.3 billion in 2020 to US$14.9 billion in 2023, with its share of adspend rising from 46% to 49%.
- Chinese FMCG brands spent 71% of their budgets on digital advertising in 2020, compared to a 46% global average.
- Excluding China, FMCG brands spent 52% of their 2020 budgets on television.
(This article first appeared on CampaignAsia.com)