The market for high-end frozen food in China is large.
San Francisco, CA (PRWEB) August 04, 2013
The Frozen Food Production industry in China developed rapidly in the past decade. In the five years through 2013, industry revenue is expected to increase at an annualized 21.2% to $11.8 billion, says IBISWorld. The strong growth is mainly due to higher disposable incomes, higher product prices, changing consumption trends caused by the faster pace of modern life, a wider variety of frozen foods, product quality improvements, high growth in mid-range and high-end product segments and the development of new markets.
As competition in the frozen food market intensifies, manufacturers are increasing investment in product innovation and production capability, says IBISWorld. There is a large market space for high-end frozen food. With improved nutrition and taste, the proportion of mid-range and high-end products produced by this industry will increase. Manufacturers have also started to pay more attention to markets in China's counties, towns and some developed rural areas.
In 2013, the four largest firms operating in the Frozen Food Production industry – Zhengzhou Sanquan Foods, Synear Group, General Mills (China), and Longfong Group – are expected to account for 20.9% of industry revenue, which indicates the industry has a low industry concentration level. The barriers to enter this industry are not high, which results in many small enterprises operating in this industry, especially in smaller cities. Some smaller enterprises have also been acquired by larger enterprises in recent years, or have exited the industry. IBISWorld expects the industry concentration level to increase, with a rise in the number of mergers and acquisitions.
For more information, visit IBISWorld’s Frozen Food Production in China industry report page.
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IBISWorld Industry Report Key Topics
Companies in the industry manufacture food that can be transported, stored and sold frozen. Using rice, flour and grains as the main raw ingredients and auxiliary products like meat and vegetables, firms in this industry manufacture various cooked and uncooked foods. These foods are then immediately frozen and packaged. Frozen seafood and frozen dairy products are excluded from this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.