The Latest China Food Industry Statistics Explained
China is the largest food & drink market in the world and is forecast to reach $1.5 trillion USD by 2023, according to the Institute of Export and International Trade (IOE&IT).
The statistic states that China currently holds the position of being the largest food and drink market globally and is projected to further expand its market size to a valuation of $1.5 trillion USD by the year 2023, as reported by the Institute of Export and International Trade. This information highlights the substantial economic influence and growth potential of the Chinese food and drink sector. The forecasted growth indicates a significant opportunity for businesses operating within this market to capitalize on the rising consumer demand and increasing spending power in China. As such, companies looking to expand or enter the food and drink industry should consider the Chinese market as a key target for their strategic growth initiatives.
Pork is the most consumed meat in China, accounting for more than 60% of the total meat demand.
The statistic that pork is the most consumed meat in China, accounting for more than 60% of the total meat demand highlights the significance of pork in Chinese cuisine and culture. This statistic indicates that pork is the preferred choice of meat for Chinese consumers, overshadowing other types of meat such as chicken, beef, and lamb. The high consumption of pork reflects its availability, affordability, and versatility in Chinese cooking. Additionally, pork has historical and cultural importance in China, further contributing to its popularity as the primary meat consumed in the country. Overall, this statistic underscores the importance of pork in the Chinese diet and food industry.
The Chinese food industry produced 170.6 million metric tons of processed food in 2018.
The statistic indicates that the Chinese food industry manufactured a total of 170.6 million metric tons of processed food in the year 2018. This highlights the significant scale and output of the food processing sector in China, reflecting the country’s status as a major player in the global food industry. The quantity of processed food produced signifies a high level of demand and consumption within the Chinese market, as well as potentially for export to other countries. This statistic showcases the industry’s contribution to the economy, job creation, and food security in China, demonstrating its importance as a key sector driving economic growth and development in the country.
Estimates suggest that around 75% of Chinese consumers will shop online for food by 2022.
The statistic indicates that approximately 75% of Chinese consumers are expected to engage in online shopping for food by the year 2022. This suggests a significant shift in consumer behavior towards e-commerce platforms for purchasing food products. The increasing adoption of online shopping in the food sector could be driven by factors such as convenience, a wide variety of choices, competitive pricing, and enhanced digital infrastructure. This trend signifies the growing importance of digital channels in the retail industry, particularly in a market as significant as China. The statistic highlights the transformative impact of technology on consumer habits and the evolving landscape of retail in the digital age.
Spices and condiment import in China rose by 20% in 2017, reaching a value of $33 billion.
The statistic indicates that the total value of spices and condiment imports in China increased by 20% in the year 2017, totaling $33 billion. This significant rise reflects a growing demand for foreign spices and condiments within China, likely driven by factors such as increasing disposable income, changing consumer food preferences, and a growing interest in foreign cuisines. The considerable increase in imports suggests a thriving market for spices and condiments in China, presenting opportunities for both domestic and international suppliers to cater to the evolving tastes and preferences of Chinese consumers.
China is the world’s largest grocery market and it is expected to reach $1.8 trillion by 2023.
The statistic that China is the world’s largest grocery market and is expected to reach $1.8 trillion by 2023 reflects the significant and growing influence of the Chinese consumer market on the global economy. The sheer size of China’s population and its rapidly expanding middle class have fueled demand for a wide variety of grocery products, driving substantial growth in the market. The projected increase to $1.8 trillion by 2023 highlights the continued potential for businesses to capitalize on this growing market, attracting both domestic and international retailers and manufacturers to cater to the evolving preferences and purchasing power of Chinese consumers. This statistic underscores the importance of understanding and engaging with the Chinese market for companies looking to expand their presence and leverage opportunities in the global grocery industry.
Revenue in the snack food segment in China is projected to reach US$77,619m in 2021.
The statistic “Revenue in the snack food segment in China is projected to reach US$77,619m in 2021” indicates the estimated total amount of revenue generated by the snack food industry in China for the year 2021. This figure represents the anticipated financial performance of this specific sector and reflects the expected growth or size of the market for snack foods in China. The projection suggests a substantial economic value attributed to the snack food segment within the country, highlighting the importance and popularity of snack products among Chinese consumers as well as the potential opportunities for businesses operating in this market.
The beverage industries in China are forecasted to reach a market value of nearly 645 billion yuan by 2023.
This statistic indicates that the beverage industries in China are expected to experience significant growth, with the market value projected to reach almost 645 billion yuan by 2023. This forecast suggests a positive outlook for the beverage sector in China, reflecting strong consumer demand and potential for expansion in the market. Factors contributing to this growth could include changing consumer preferences, increasing disposable incomes, and a growing population. The projected market value provides insight into the potential opportunities for businesses operating in the beverage industry in China, highlighting the importance of strategic planning and market positioning to capitalize on this growing market.
China’s fast-food industry recorded a growth of 8.4% year-on-year in 2020.
The statistic indicates that China’s fast-food industry experienced an 8.4% increase in revenue or sales from the previous year in 2020. This growth rate suggests that there was a positive trend of expansion and increased consumer demand within the fast-food sector in China during that year. Factors such as changing consumer preferences, shifting dietary habits, and the convenience of fast-food options may have contributed to this growth. It also suggests that the industry performed relatively well despite the challenges posed by the global pandemic and economic uncertainties.
Revenue in the “Meal Delivery” segment in China is projected to reach US$51,514m in 2021.
The statistic indicates that the revenue generated within the “Meal Delivery” market sector in China is expected to reach a total of US$51,514 million by the end of the year 2021. This projection suggests a substantial economic activity within the meal delivery industry in China, emphasizing a growing demand for food delivery services. It serves as a valuable insight into the significant market potential and consumer behavior trends within the meal delivery sector, reflecting a notable economic opportunity for businesses operating in this market segment to capitalize on the increasing popularity of meal delivery services in China.
Per capita disposable income of consumers in China rose by 6.8% year-on-year in 2021, leading to increased spending on packaged food.
The statistic indicates that the average amount of money available to each individual in China for spending on goods and services after deducting taxes and other mandatory expenses increased by 6.8% compared to the previous year. This rise in per capita disposable income suggests improved purchasing power among Chinese consumers, leading to higher spending on packaged food products. The increased spending on packaged food could be attributed to a shift in consumer preferences towards convenience and packaged products as a result of this rise in disposable income. Overall, the statistic reflects a positive trend in the economic well-being of Chinese consumers and their consumption patterns in 2021.
Coffee consumption in China is expected to grow by an average annual rate of 10.7% until 2024.
The statistic ‘Coffee consumption in China is expected to grow by an average annual rate of 10.7% until 2024’ indicates the projected increase in the consumption of coffee in China over the coming years. The average annual growth rate of 10.7% suggests a substantial and steady rise in the consumption of coffee within the Chinese market. This statistic implies an increasing demand for coffee among Chinese consumers, potentially driven by factors such as changing lifestyles, increased urbanization, and a growing preference for Western dietary habits. The projection until 2024 provides insight into the expected trajectory of coffee consumption in China, highlighting opportunities for businesses in the coffee industry to capitalize on this anticipated growth trend.
Organic food sales are expected to reach $13 billion by 2025 in China.
The statistic indicating that organic food sales are projected to reach $13 billion by 2025 in China suggests a significant and growing trend towards the consumption of organic products in the country. This figure reflects increasing consumer awareness and demand for healthier, environmentally-friendly food options, as well as a shift towards sustainable and ethical agricultural practices. The projected growth in organic food sales highlights the potential opportunities for businesses operating in the organic food industry to capitalize on this growing market segment in China. It also underscores the importance of understanding consumer preferences and market dynamics to effectively tap into this expanding market.
Grain production in China reached 669.49 million tons in 2020, up 0.9% year on year.
The statistic “Grain production in China reached 669.49 million tons in 2020, up 0.9% year on year” indicates that China experienced a slight increase in its grain production output from the previous year. This data suggests that China’s agricultural sector was able to maintain and even slightly improve its productivity despite potential challenges such as natural disasters, fluctuations in market demand, and other external factors. The increase in grain production could be attributed to various factors, including advancements in farming techniques, technology, government policies supporting agricultural development, favorable weather conditions, and effective management practices. Overall, the upward trend in grain production reflects the resilience and efficiency of China’s agricultural industry in meeting the growing food demands of its population and potentially contributing to food security at both domestic and global levels.
China’s infant formula market is expected to reach USD 27 billion by 2023.
This statistic indicates that the infant formula market in China is projected to increase significantly in value, growing to USD 27 billion by the year 2023. This growth reflects a growing demand for infant formula products within the Chinese market, possibly driven by factors such as increasing disposable income, a rising birth rate, or a shift towards more Westernized dietary practices. The expected size of the market suggests significant opportunities for infant formula manufacturers and suppliers to capitalize on the increasing demand for their products in China in the coming years.
Revenue in China’s food eCommerce market is projected to reach US$54,428m in 2021.
The statistic indicates that the revenue generated in China’s food eCommerce market is forecasted to reach a total of US$54,428 million in the year 2021. This projection suggests a significant level of economic activity within the food eCommerce sector in China, highlighting the robust growth and increasing consumer demand for online food purchasing in the country. The substantial revenue figure underscores the market potential and opportunities for businesses operating in the food eCommerce industry in China to capitalize on this trend and expand their market share.
The traditional Chinese medicine market is expected to reach $114 billion by 2024.
This statistic indicates the projected growth and overall value of the traditional Chinese medicine market up to the year 2024. The estimated market size of $114 billion represents the anticipated total revenue generated by traditional Chinese medicine products and services within that forecasted timeline. This figure suggests a significant potential for expansion and investment opportunities within the traditional Chinese medicine industry, highlighting its growing importance and popularity in healthcare and wellness sectors globally. Additionally, the statistic points towards a positive outlook for the market, indicating a favorable environment for business growth and development in the traditional Chinese medicine field.
The online catering transactions of China amounted to 1 trillion yuan in 2020, an increase of 11.2% year over year.
The statistic indicates that the total value of online catering transactions in China reached 1 trillion yuan in 2020, representing an 11.2% increase compared to the previous year. This data highlights the substantial growth and importance of the online catering industry within the Chinese market. The increase suggests a growing trend towards online food ordering and delivery services, likely influenced by factors such as convenience, changing consumer behaviors, and advancements in technology. The continued expansion of the online catering sector in China demonstrates its significance in shaping the overall food service industry and reflects evolving consumer preferences towards digital platforms for dining options.
Organic vegetable volumes in China increased by a CAGR of 12.1% between 2014 and 2018.
The statistic indicates that the volume of organic vegetables produced in China experienced a Compound Annual Growth Rate (CAGR) of 12.1% between the years 2014 and 2018. This means that on average, the organic vegetable production in China grew by 12.1% each year during this time period. The CAGR provides a smooth measure of growth over multiple years, accounting for the compounding effect of growth rates. The increase in organic vegetable volumes suggests a rising demand for organic produce in China, potentially driven by factors such as increasing consumer awareness about health and environmental concerns, as well as government initiatives to promote organic farming practices.
References
0. – https://www.www.export.org.uk
1. – https://www.www.producereport.com
2. – https://www.www.qianzhan.com
3. – https://www.www.statista.com
4. – https://www.www.igd.com
5. – https://www.www.stats.gov.cn
6. – https://www.www.futuremarketinsights.com
7. – https://www.www.coresight.com
8. – https://www.data.oecd.org
9. – https://www.www.researchandmarkets.com
10. – https://www.www.agriculture.com
11. – https://www.www.marketsandmarkets.com
