New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 07/03/2013 -- The recent improvements in the state of the economy are likely to support the ongoing expansion of China's food and drink industry. As tastes and preferences continue to evolve and the spending power of consumers beyond Beijing, Shanghai and Guangzhou rises, we expect companies to continue viewing China as one of the outstanding growth opportunities.
Headline Industry Data
- 2013 food consumption = +13.3%; compound annual growth rate (CAGR) forecast to 2017 = +13.1%.
- 2013 beer volume sales = +8.3%; CAGR forecast to 2017 = +8.6%.
- 2013 soft drinks volume sales = +7.5%; CAGR forecast to 2017 = +7.1%.
- 2013 mass grocery retail sales = +8.8%; CAGR forecast to 2017 = +9.0%.
Key Company Trends
Bird Flu Remaining Main Challenge Of Livestock Sector: The recent outbreak of avian influenza in China is an abrupt recall that the poultry industry still has much to do to ensure safe meat production. A larger outbreak of bird flu could have severe consequences for the industry. In the short term, massive culling and food safety scares pose downside risks to our production and consumption forecasts. In the longer term, it will certainly foster further industrialisation of the industry. However, we remain cautious over the future capacity of China to control disease outbreaks, as overcrowded poultry farms do not erase the risk of quick flu propagation.
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Fonterra Set To Enter Infant Formula Market On Its Own: New Zealand based diary exporter giant Fonterra announced plans in April 2013 to enter the thriving Chinese infant nutrition sector with its brand of Anmum formula products by June in the same year. Driving Chinese growth is a burgeoning middle class with its rising incomes and increasing number of working mothers, offering impressive opportunities for internationally branded, premium products. However, with Chinese consumer confidence still bruised following the 2008 melamine scandal in which the part-owned Fonterra Sanlu factory was implicated, the dairy exporter may face obstacles in securing meaningful market share in this increasingly lucrative segment.
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