China to Become the Largest Dairy Market by 2017

China is predicted to eclipse the United States and become the world’s largest dairy market by 2017 according to the world renowned market research company Euromonitor. It is also estimated that from 2014 to 2019 half of the total increase in global dairy market revenue will be generated from growth in China, USA, Russia, France, Japan, German and UK.

The increased annual income of Chinese people and the establishment of new supermarkets are key factors contributing to China’s dairy sales growth according to Food Analyst Lianne Van Bos from Euromonitor. The National Bureau of Statistics reported that in 2013 the total sales volume in China’s dairy market was 47 billion dollars even though China’s dairy market is far from saturated. Euromonitor predicts total sales will hit 70 billion dollars by 2017. Lianne also pointed to the face that in 2014 the revenue of the world dairy market rose 7% compared to the previous year. The Chinese and Brazilian markets are among the most active and booming.