With 1.3 billion people growing at 10million a year and a rising economy, China is the largest food consumer.
With 1.3 billion people growing at 10million a year and a rising economy, China is the largest food consumer.
The food processing industry, that generated revenue over US $157.7 in 2004, is growing rapidly. Firm economic growth and fast urbanization has resulted in increased disposable incomes, thereby, increasing the demand of quality processed food by Chinese consumers, both at homes and restaurants. China is churning out profits for food processing export-oriented units. Despite a fast growth, China's food processing market is still underdeveloped. With rising demand for high quality American constituents, it will continue to witness double-range growth in the future.
China's annual food consumption is mind-boggling. World's 51% pork, 33% rice, 19% ice-cream, 19% poultry, 12% beef is consumed by China. Though only 30% of the consumed food in China is "packaged" in comparison to 80% of western market, the processed food market is expanding, mainly in busy urban areas because of convenience, healthier choices, variation and quality.
"Food Processing Market in China (2005)", a recent market research report by RNCOS puts forward that, since 1980, China is the fastest-growing economy. As the rest of the world is on a decline, China is growing and is anticipated to maintain a GDP annual growth rate at 7% for next 5 years.
The research report also looks into the issues and facts crucial to the success of Food Processing Market in China, like
- Relative study of Asian food processing market
- Country wise account of processed food and beverages (2004/05)
- Approximate changes in food and agricultural import standards and regulations
- Drivers in the food processing market
- Study of overall investment chances and growth opportunities in the food sector
- Threats and challenges for China food processing industry
RNCOS' market research report "Food Processing Market in China (2005)" throws light on how the availability of raw materials, varying lifestyles and flexible trade regulations has given the momentum to this industry. It also discusses the improvements in supply and demand in terms of unit sales while covering the hurdles in this sector.
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