Food - China

China

Revenue in the Food market amounts to US$1,601.00bn in 2024. The market is expected to grow annually by 7.39% (CAGR 2024-2029).
The market's largest segment is the segment Bread & Cereal Products with a market volume of US$277.60bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,118.00 are generated in 2024.
In the Food market, 17.7% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 476.90bn kg by 2029. The Food market is expected to show a volume growth of 6.5% in 2025.
The average volume per person in the Food market is expected to amount to 258.70kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in China has been experiencing minimal growth, influenced by factors such as increasing demand for healthier options, rising disposable income, and the convenience offered by online shopping. Despite this slow growth, sub-markets such as Dairy Products & Eggs and Vegetables show promising potential due to changing consumer preferences and government initiatives promoting healthy eating. Other sub-markets, such as Confectionery & Snacks and Convenience Food, face challenges such as stricter regulations and changing consumer habits.

Customer preferences: In China's rapidly evolving food market, consumers have become more health-conscious and environmentally aware, leading to a rise in demand for organic and sustainable food products. This shift is influenced by cultural values emphasizing natural and clean eating, as well as concerns about food safety. Additionally, with a growing middle class and increased urbanization, there has been a noticeable trend towards convenience and ready-to-eat meals, driven by busy lifestyles and the desire for more time-saving options. As a result, there has been a surge in online food delivery services and meal kit subscriptions, catering to the changing preferences and needs of Chinese consumers.

Trends in the market: In China's Food Market, there is a noticeable shift towards healthier and more sustainable food options. This trend is driven by increasing consumer awareness and demand for natural, organic, and plant-based products. As a result, there has been a surge in the popularity of alternative protein sources, such as plant-based meat substitutes and insect-based foods. This trajectory is significant as it reflects changing consumer preferences and presents opportunities for industry stakeholders to tap into the growing demand for healthier and environmentally-friendly food options. However, it also poses challenges for traditional food producers who may need to adapt their supply chains and offerings to stay competitive in the market.

Local special circumstances: In China, The Food market is heavily influenced by the country's vast and diverse geographical landscape, which includes various regions with their own unique culinary traditions and preferences. Additionally, cultural factors play a significant role in shaping the market, as China has a strong food culture deeply rooted in its history and traditions. Moreover, government regulations also impact the market, with strict food safety standards and labeling requirements in place to ensure the quality of products. These factors contribute to the dynamic and constantly evolving nature of The Food market in China.

Underlying macroeconomic factors: The growth of The Food market market in China is heavily impacted by macroeconomic factors such as economic growth, consumer spending power, and government policies. China's rapidly growing economy and rising middle class have led to an increase in disposable income and demand for higher-quality food products. Moreover, the Chinese government's initiatives to improve food safety and modernize the food industry have also played a significant role in driving market growth. However, the market is also affected by challenges such as trade tensions, rising costs of raw materials, and changing consumer preferences. As China continues to strengthen its economy and implement supportive policies, The Food market market is expected to experience steady growth in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.