Food safety is a global problem affecting not only Asia but the whole world as well. When you have a food company within Asia, you may largely have connections with the global food manufacturing and supply market.
According to Kantar data, the market value of China’s food and beverage sector grew by 4.7% (food) and 1.5% (beverage) in 2018, which are both below the overall growth rate seen in China’s FMCG sector (5.2%).
In recent years there has been rapid growth in China’s pasteurized milk market. The annual sales of fresh milk on JD platform increased 100% in 2018, and the number of consumers buying pasteurized milk during this time also rose by 100%
In 2018, 324 thousand tons of infant formula milk powder were exported from 58 countries/regions to China, amounting to over 31.6 billion yuan. Among them, New Zealand is the second largest exporter and Australia ranked 7th.