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Exporter Guide: FOOD AND BEVERAGE IN CHINA

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  • Published: 2013-04-02
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  • Language: English
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Introduction
Exporter Guide:  FOOD AND  BEVERAGE IN CHINA

Market Overview
China is one of the largest consumers of food and beverage in the world, and is also one of the largest producers. Rising incomes are adding sophistication to the market, with urban residents in particular spending a larger proportion of their incomes buying processed, packaged and imported food and beverage from supermarkets, and eating out in restaurants.i

Food Retail
According to Euromonitor, the grocery retail sectoriii in China was worth US$504.4 billion in 2011. Euromonitor forecasts this will grow to a value of US$707.2 billion by 2016, a compound annual growth rate (CAGR) of 7 percent for the period 2011-2016. Supermarkets currently dominate the retail landscape with a market share of around 44 percent. Although this dominance is likely to continue, Euromonitor estimates that online food and drink will also make a staggering jump from US$485.6 million in 2011 to US$3.1 billion in 2016.

Foodservice
According to Euromonitor, the Chinese foodservice sectorv was worth $366.9 billion in 2011, and expected to grow to $494.8 billion by 2015. This represents a CAGR of 7.76 percent for the period 2011-2015. Full-service restaurants dominate the foodservice landscape, with a market share of around 72 percent, followed by fast food restaurants at around 25 percent.

Processed food
The total processed food market was valued at US$140.4 billion in 2011. Processed foods grew at a CAGR of 13.3 percent between 2007 and 2011 and are forecast to grow at a CAGR of 10.1 percent between 2012 and 2016. Dairy registered the highest retail sales in 2011, with total revenue of US$28.0 billion, followed by bakery (US$19.3 billion) and dried processed foods (US$15.2 billion).

Between 2006 and 2010, the fastest growing processed food exports from New Zealand to China by compound average growth rate (CAGR) were chocolate (267 percent), wine (68 percent), spirits and liqueurs (51 percent), other food preparations (49 percent), and dried fruit / nut products (34 percent).
 
 
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