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Food and beverage to China Trends and opportunities for Australian Companies

Time: 2016-10-03 00:00   Source: IFE China   Clicks:

With a population of over 1.3 billion, China has emerged as the world’s largest consumer market for food and beverage (F&B), surpassing the United States in 2011. According to a recent study conducted by Euromonitor, China is one of the fastest growing F&B markets in Asia, with an average annual growth rate of 35.4 per cent from 2011 to 2014. In 2016, the overall Chinese consumer expenditure for F&B products is expected to reach a total of US$976 billion. (Source: Euromonitor)

Food consumption patterns in China have changed significantly as living standards have risen and more consumers are exposed to a greater diversity of choice, both locally and through travel abroad. Chinese consumers are becoming increasingly discerning and more are seeking the following qualities when making purchases:

  • confidence in food safety and ingredients’ integrity
  • higher quality
  • better nutritional value
  • variety
  • modern packaging
  • freshness
  • convenience

    Opportunities

    Increased interest and demand for Australian F&B is being driven by China’s strong economic growth and its rising per capita income. Emerging second tier markets, wealthy coastal cities and not just the hubs of Beijing, Shanghai and Guangzhou, are providing opportunities for Australian companies to access a share of the market.

    Australia is recognised by local consumers as having a clean and green environment with good quality products and brands. Many Australian exporters have taken advantage of this competitive edge by establishing a position as suppliers of meat, dairy products, fresh fruits, seafood and other products.


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