Comercio Internacional de productos Cárnicos

26/08/2010

China - Meat market expanding

The food processing industry is counted among the fastest growing industries in China. The industry has been growing at a double-digit rate on account of rapid economic growth and rising disposable income that has created strong demand for high quality processed food. Changing food consumption pattern and growing appetite for variety of new taste make this industry lucrative for new as well as existing players, says Chinese Processed Food Market Analysis, a new market research report from RNCOS.
According to the report, there was hardly any impact of financial crisis on the Chinese processed food market. Demand for processed food remained on its previous positive growth path even in tough economic conditions. We believe that the processed food industry in China will grow at a CAGR of around 33 per cent between 2010 and 2013.
The study has also revealed that processed meat is the leading segment of the processed food market. This segment will continue to be the highest growing segment in future with the prospective growth of nearly 16 per cent in the next three to four years. Apart from the processed meat, dairy and ready meals are the other two highest growing segments.
The availability of processed foods products is expected to improve as modern food-retailing formats look beyond to Tier-1 cities and expand their operation into Tier-2, 3 and rural cities to meet the rising demand from more affluent consumers. In order to exploit the opportunities, many local processed food producers have already started focusing on making processed food for domestic sales.
Source: Meat Trade News Daily