Chinese consumer demand for high-quality products & foreign tastes is rising rapidly
IMPORTS are a bright spot in China’s food sector, as increased spending power prompts consumers to seek high-quality products or try foreign tastes new to them.
Retail sales of packaged foods in 2016 is estimated at 12.5 trillion yuan (US$1.8 trillion), adding 7.5 percent from a year ago, according to Euromonitor International. The Institute of Food Technologies expected China’s imported food sales to grow 15 percent annually and reach 480 billion yuan by 2018.
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