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China biscuit production market: $39.2 billion industry by 2018

Press Release   •   Aug 20, 2013 16:27 BST

The China biscuit production market experienced rapid growth in the past five years with industry revenue increasing at an estimated annualized rate of 21.4% to 2013. Industry revenue is expected to reach $24.3 billion in 2013, up 14.0% from 2012. Industry growth was stimulated by greater domestic demand, increasing private investment, the entry of foreign capital into China's manufacturing sector, and greater production that increased total industry output.

Consumption levels have been rising in recent years along with per capita income increases and changes in consumer behavior. The consumer spectrum has enlarged since 2000 and an increasing number of young people prefer biscuits and other bakery products as snacks. The relative proportion of children in the total market, previously the main consumer group, has decreased slightly as parents become more aware of the health issues associated with excess biscuit and sugar consumption.

Consumer preferences for higher quality products and more variety in product types have stimulated the development of the medium- and high-end biscuit segments. Although China's total biscuit demand is large due to its large population, the per capita consumption level is quite low at only one kilogram per year compared to 25 to 35 kilograms per year in developed countries. This shows that the market has strong and significant potential for substantial future growth.

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