Published By : 07 Jan 2016 | Published By : QYRESEARCH
China is one of the fastest-growing economies in the world. Many sectors in China are still enjoying significant growth. Several international firms continue to move their manufacturing base to China due to the availability of affordable resources in China such as land and labor. However, China is notorious for being the world’s biggest polluter of greenhouse gas emissions. This has impacted the quality of life in China greatly. Consumers are seeking healthier alternatives when it comes to food or even air.
A decade ago, China experienced several food scams that has led to the rise in the number of foodstuffs being imported from other countries. In China, the organic outlets were previously opened keeping in mind the international consumers in the country. However, with the strong economic growth, the disposable income levels in the nation have grown significantly giving a higher purchasing power to consumers. Hence, the middle class in China has now become the primary consumer segment for international companies exporting food to China.
Due to the diverse diet of Chinese and their rising disposable income rates, the nation imported 320,000 metric tons of fresh milk and around 283,000 tons of mutton in the year 2014, according to the General Administration of Customs. Furthermore, the nation also purchased 71.4 million tons of soybean and also 383 million liters of wine from various overseas market. In 2015, the import of the aforesaid food items has grown further, in spite of the declining prices of mining resources-related commodities such as iron ore and coal.
This shows that China is still presenting good growth opportunities for food exporting companies. There is still a good demand in China for wine, meat, dairy, and other products. Australia is one of the key companies that is exporting its food items to China. Recently, a news reached the media saying the high export rate of baby formula to China actually led to a rise in price of baby formula products in Australia due to domestic shortage. Furthermore, these food trends show that Chinese diets have shifted from being mostly grain based to those including more meat and dairy items.