There is significant potential demand for chocolate and candy in rural China.
San Francisco, CA (PRWEB) October 31, 2012
China is changing rapidly and so are its tastes. As China gradually evolves into a consumer society, new products, including chocolate and candy, are appearing with increasing regularity. Rising average annual incomes, increased exposure to Western and international cuisines and a greater array of goods in supermarkets are all driving increased sales of chocolate and candy products, says IBISWorld. Revenue for the Chocolate Production industry in China grew rapidly during the five years through 2012 to $15.1 billion, with average annual growth of 23.6%. In 2009, the worst-performing year of the period, there was still a double-digit revenue increase.
There are over 500 candy and chocolate manufacturers in China, most of which are small or medium-sized. The top four players, Mars, Hsufuchi Foods, Perfetti Van Melle, and Golden Monkey Group, account for just over a third of industry revenue, indicating a low concentration level. Leading firms in each product segment have emerged, but there is still no dominant manufacturer in the industry as a whole. Geographic concentration levels are higher in East China and Middle South China, with provinces such as Shanghai, Guangdong, Fujian, Zhejiang and Jiangsu as the major production bases.
The Chocolate Production industry in China is still in its infancy due to relatively low chocolate and confectionery per capita consumption in China, and significant future demand exists in rural areas, says IBISWorld. With the improving economy and increasing domestic demand, total domestic confectionery output is expected to grow strongly.
For more information, visit IBISWorld’s Chocolate Production in China industry report page.
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IBISWorld Industry Report Key Topics
Firms in the Chocolate Production industry in China purchase raw materials such as sugar, glucose syrup, maltose, dairy products, gum, nuts, flavors, food colorants and other related materials to produce confectionery products, such as hard candy, filled candy, jelly candy, Chinese-style candy and other confectionery products. Firms also purchase cocoa, cocoa butter, cacao paste, sugar and dairy products to manufacture chocolate or chocolate products.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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