China’s rapidly growing food and beverage (F&B) market, valued at approximately RMB 11.71 trillion in 2023, shows significant potential due to increasing consumer spending and health trends. Foreign companies are entering the market, focusing on innovation and healthier products amid fierce competition.

China’s F&B market presents a dynamic landscape with substantial growth potential and evolving consumer preferences. Despite fierce competition, foreign companies are increasingly entering the Chinese market either through direct investment or partnerships with local firms. Adapting to the shifting market trends and fostering innovations are key to success in this dynamic market.

China’s food and beverage (F&B) market stands as one of the largest and fastest-growing sectors globally. This remarkable growth is fueled by increasing consumer spending, rapid urbanization, and the rise of a burgeoning middle class.

As consumers become more health-conscious and quality-driven, there is a notable shift towards healthier and premium products. Organic, low-sugar, and functional foods are gaining popularity, reflecting the evolving preferences of Chinese consumers.

Despite facing challenges such as regulatory changes, food safety concerns, and intense competition, the market presents significant opportunities. Areas like plant-based foods, functional beverages, and innovative food technologies are ripe for growth. Additionally, China’s role as a major importer of food and beverage products highlights its growing interest in international cuisines and flavors.

China’s F&B market is vast and diverse, covering the entire supply chain from raw material supply, production, and processing to final consumption. In recent years, the market size of China’s F&B industry has continued to expand, demonstrating strong growth momentum. In 2023, the market size reached approximately RMB 11.71 trillion (US$1.67 trillion), representing a year-on-year growth of 3.75 percent. According to Statista, the F&B market in China is projected to grow annually by 7.38 percent from 2024 to 2029. Meanwhile, China’s food imports have been increasing steadily in recent years.

The country’s food imports grew from US$49 billion in 2013 to US$139.62 billion in 2022, registering an annual growth rate of 12.3 percent. The country has become the world’s largest food importer of food.

China’s top six imported food categories included meat and processed meat, grains and products made with processed grains, aquatic products, fruits and fruit products, dairy products, and vegetable oil, with the import value of each category exceeding US$10 billion, the report said. Imports of all these categories accounted for 79.1 percent of China’s total food imports.

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Japanese business leaders urge China to ensure expatriate safety following a schoolboy’s fatal stabbing. Keidanren’s chairman emphasizes the country’s responsibility for a secure working environment for foreign nationals.

Japan’s Business Leaders Demand Safety in China

Japanese business leaders are deeply concerned following the tragic stabbing of a schoolboy in Shenzhen. They emphasize that, for Japanese companies to safely operate in China, the Chinese government must take decisive steps to ensure the protection of expatriates.

Masakazu Tokura, chairman of the Japan Business Federation (Keidanren), articulated this sentiment during a recent news conference in Tokyo. He stressed that it is the obligation of any country, which welcomes foreign business activities, to create a secure environment for international residents.

Tokura also highlighted the troubling presence of anti-Japanese content circulating on Chinese social media, which he deemed to be misleading. This situation underscores the need for fostering safe and respectful relations between Japan and China in the business arena.

Source : Expat safety seen as a must for Japanese firms to keep doing business in China

The 2024 China·Gaobeidian International Windoor Festival, featuring over 20,000 attendees and 1,000 exhibitors, focused on green building innovations and sustainable practices, promoting international cooperation for low-carbon development.

2024 China•Gaobeidian International Windoor Festival Kicks Off

On September 20, 2024, the 2024 China•Gaobeidian International Windoor Festival began alongside the International Green and Healthy Building Conference in Hebei Province, China. Attracting over 20,000 participants, including industry leaders and more than 1,000 exhibitors from 50 countries, the festival focuses on promoting green and healthy building practices.

Key Themes and Exhibitions

The event’s theme, "Strengthening International Cooperation for Green Transition," highlights the importance of collaboration in developing low-carbon buildings. Attendees engage in over ten sessions discussing international trends, green building materials, and energy conservation. The exhibition spans 60,000 square meters, showcasing innovative products and technologies to foster business cooperation and technical exchange in the green building sector.

Local Impact and Future Goals

The festival also includes local cultural promotions and a skills competition for energy-efficient window and door installation workers. Gaobeidian City aims to establish itself as the “International Capital of Green Buildings” through sustainable development initiatives and robust technological support, further enhancing its role in the global green building industry.

Source : The 2024 China•Gaobeidian International Windoor Festival kicked off – Thailand Business News