LONDON, Aug. 23, 2017 /PRNewswire/ -- Top Growth Opportunities: Dairy & Soy Food in China
Summary
China's Dairy market is forecast to see strong continued growth through to 2021 paired with a high market value of US$50bn making it a key opportunity for dairy producers. Contributing to this substantive growth is China's burgeoning middle class. These segments of the population are increasingly urban and are developing western-leaning tastes. For many Chinese consumers dairy products, especially milk, are seen as healthy potential sources of nutrients
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Tempering this growth somewhat is Chinese sensitivity/intolerance to dairy. A significant portion of the Chinese population is lactose-intolerant or lactase-deficient, and experience adverse effects from dairy products. This could cause a preference for dairy-free products at some point but for now Chinese consumers will continue to increase their milk consumption as the middle class expands
China is one of the smaller markets in the global Dairy & Soy Food sector in terms of per capita expenditure in US dollar terms. The Chinese Dairy & Soy Food market offers fewer opportunities in terms of per capita expenditure in US dollar terms compared to Japan, Saudi Arabia, the US, and Australia.
China's rapid economic growth has pulled hundreds of millions of people out of poverty in recent decades. This rapid economic development combined with an increasingly urban population bodes well for consumer goods producers in China but especially for those producing goods associated with the West which carry premium connotations.
Overall, China's Dairy CAGR has been at 10.56% in the last five years, and this will increase in 2016-2021, while by comparison, on-trade growth will decrease slightly over the same period. This is suggestive of an increased pool of middle class consumption, but the pinch of eating out will still motivate people to stay in rather than go out for dairy and soy products. It is predicted that off-trade dairy consumption alone in 2016 will surpass total dairy and soy consumption in 2016.
The report "Top Growth Opportunities: Dairy & Soy Food in China" provides an overview of the meat market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption.
In particular, this report provides the following -
- Key consumer demographic groups driving consumption within the Chinese market. The figures showcase the number of times consumers of specific ages and gender consume Dairy & Soy, as well as identifying whether these demographic groups "over" consume in the category (i.e. they account for a higher proportion of occasions than the proportion of society they represent overall).
- A study of market value and volumes over 2011-2016 for China, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- The degree of influence that the 20 key consumer trends identified by GlobalData have on Dairy & Soy consumption volumes, with granular analysis on the extent that degree of influences varies between gender and age group.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and China-specific product innovation targeting key consumer needs.
Companies mentioned in this report: Inner Mongolia Mengniu Dairy Industry Co., Ltd., Want Want China Holdings Ltd., Yili Group, Bright Food (Group) Co., Ltd., Vitasoy International Holding, Nestle, Heilongjiang Wondersun Healthy Food Co., Ltd., Beijing Sanyuan Foods Co., Ltd., Yakult Honsha Co., Ltd., Groupe Danone S.A.
Scope
- China's Dairy market is forecast to see strong continued growth through to 2021, making it a key opportunity for dairy producers.
- The Chinese Dairy market has seen increasing premiumization across all sector categories.
- Private label penetration is relatively low in the Chinese Dairy market but the Private Label CAGR growth between 2011 and 2016 is significantly stronger than the name brand CAGR.
- Dairy consumption is centered on younger consumers. These consumers, having grown up in the age of globalization and Western influence, have much more positive perceptions of dairy products, especially in regards to benefits to health.
Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of China's Dairy & Soy consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Dairy & Soy sector.
- Category, brand, and packaging dynamics are also examined.
Download the full report: https://www.reportbuyer.com/product/5068728/
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SOURCE ReportBuyer
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