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.
For more information on the China biscuit production market, please click here: China biscuit production market
Follow us on Twitter now @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.