Dairy Products Market in China 2015-2019
About Dairy Products
The dairy sector involves the processing, storing, and distribution of milk and milk products. China is the most populated country in the world and has a high demand for dairy products. The dairy products market in the country is expected to grow steadily during the forecast period, driven by growing demand for cheese and yogurt. China is one of the largest importers of food and beverage products globally. Imported goods are primarily sold at retail chains such as hypermarkets, supermarkets, and convenience stores. Online shopping for food and beverages is catching on in China because of growing urbanization and high Internet penetration.
Technavio’s analysts forecast the dairy products market in China to grow at a CAGR of 9.76% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the dairy products market in China for the period 2015-2019. The report further provides data on the following segments of the market:
Technavio Announces the Publication of its Research Report – Dairy Products Market in China 2015-2019
Technavio recognizes the following companies as the key players in the dairy products market in China: Bright Food (Group) Co. Ltd., China Mengniu Dairy Co. Ltd., Hangzhou Wahaha Group Co. Ltd., Inner Mongolia Yili Industrial Group Co. Ltd. And Want Want Holding Ltd.
Other Prominent Vendors in the market are: Anchor, Arla, Beijing San Yuan Foods, Binge Rui, Bongrain, China Dairy Group, Danone, Devondale, Dutch Mill, Easiyo, Fonterra, JM Gabler Saliter, Lemnos, Nestle, Norco Foods, Nouriz, Oldenburger, Organic Valley, Sanlu, Soster and Wonder Sun Dairy
Commenting on the report, an analyst from Technavio’s team said: “Growing health concerns among consumers are resulting in increased demand for premium quality dairy products that contain protein, calcium, B12, vitamins, and other nutrients. Manufacturers are introducing new products with added health benefits to cater to this growing demand. Many new companies are entering the market with different product offerings. In addition, existing vendors are expanding their product portfolios and upgrading their manufacturing facilities to meet the varied demands of consumers. Innovative products such as spoonable and flavored yogurts for children have been introduced in the market. The sales of the new Ambrosial UHT yogurt launched by Yili are increasing by more than 150% quarterly. International vendors such as Organic Valley are entering the market with a range of organic dairy products.”
According to the report, China is expected to be the world’s largest dairy market by 2018. It is also one of the key players and leading importers of dairy products in the global dairy market. Dairy imports have increased in the past five years. Imported dairy products are sold as premium products in the market. Increased urbanization and rise in disposable incomes have influenced consumer buying behavior in China, leading to better living standards and increased demand for these premium products. China has urbanized rapidly over the past three decades because of the demands of the growing population. Disposable income in China has increased in 2014. Consumers are now willing to spend more on FMCG including dairy products, leading to growth in the market.
Further, the report states that the many alternatives to dairy products are available in China, including milk derived from nuts and cereals such as soy, almond, and rice.
Bright Food (Group) Co. Ltd., China Mengniu Dairy Co. Ltd., Hangzhou Wahaha Group Co. Ltd., Inner Mongolia Yili Industrial Group Co. Ltd., Want Want Holding Ltd., Anchor, Arla, Beijing San Yuan Foods, Binge Rui, Bongrain, China Dairy Group, Danone, Devondale, Dutch Mill, Easiyo, Fonterra, JM Gabler Saliter, Lemnos, Nestle, Norco Foods, Nouriz, Oldenburger, Organic Valley, Sanlu, Soster, Wonder Sun Dairy