Spending on food to grow 4.6% over next decade

Advanced Search

The story appears on

Page A8

October 27, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Spending on food to grow 4.6% over next decade

By Ding Yining | October 27, 2016, Thursday |

Print Edition

CHINA’S food consumption in urban areas is set to keep its 4.6 percent compound annual growth over the next 10 years to hit US$1.1 trillion in 2026 as urbanization continues and disposable incomes rise, according to a joint research.

Higher spending on packaged foods and a shift by consumers toward premium products are likely to lift overall expenditure, a joint report by Bright Food Group and Netherlands-based Rabobank said yesterday.

However, the annual consumption volume of dairy products eased from the exponential growth between 2000 and 2008, the report said, adding that niche segments such as butter and cheese, usually seen as high value-added products, still have a large growth potential.

Health and nutritional food, infant formula and high-quality products are also set to benefit from demographic changes in the coming years.

The report cautioned that the yuan’s depreciation trend would cut the overall profit in China’s dairy industry by an average 15 percent next year.

Consumer

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Spending on food to grow 4.6% over next decade

Email this to your friend