China is the largest country in Asia. Located in the South East, it is also the most populous country in the world with around 1.4 billion inhabitants. The food and beverage industry in China represents an expected revenue of USD141,081 million for the year 2020.
Do to a constantly growing population and a drastic change in consumer habits, food imports grew from USD14 billion in 2003 to USD104.6 billion in 2017. In 2017, the categories with the biggest import values were in order: Meat, Edible Oil, Dairy Products, Aquatic Products, Grain Products, Alcoholic Beverage, Candy, Non-Alcoholic Beverage, Dried Nuts, Pastry and Cookie. China’s health foods sector amounts to around USD150billion according to a 2016 study. The Chinese are more and more health conscious, giving a boost to the organic and health food categories, the organic sector tripling in value over the last 10 years.
If you are a brand within these categories, then doing business in China might bring you great opportunities. Always be mindful of local tastes, preferences and regulations, meaning you will need to conduct thorough R&D to adapt to consumers’ needs.