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| Updated
- December 9, 2009 |
DESCRIPTION
This report covers the market for canned foods in China, and covers the canned fruits, meat and meat products, vegetables, ready meals, seafood and soups sectors. |
PRICE
£950 |
EXTRACT FROM
INTRODUCTION
'...Canned foods have been around in China for quite some time, but have seen little product innovation, and remain largely a cupboard filler or basic commodity food. Domestic production has grown, largely fuelled by general growth in the domestic consumer market and stronger growth in the export markets canned foods. But, poor global economic circumstances have meant export markets have slumped, while the local market has hardly shined.
There is oversupply in the market and huge amounts of wastage, hitting prices for all but the higher-end products. While the domestic Chinese economy has sustained growth well into double digits, canned foods have grown in value an average of about 6% to 7% per annum for the past five years. There are currently too many players making too many products, often low in quality or consumer appeal, which are badly marketed. The market is therefore in need of a significant shakedown. This would help to clear more of the way for the larger and more innovative companies to begin to develop demand for better quality, value-added products that will be of greater interest to consumers, whilst also providing better quality assurances to them.
Chinese consumers continue to have increasing amounts of money to spend, thanks to continued increases in average wages, while continued rapid spread of organised retail chains across more of the country, and into more smaller cities and towns, has improved distribution and quality control. All of these changes in circumstances combined are already underway and developing rapidly within the population. These factors are already boosting sales in other sectors, but canned foods have been mired in their own parochialism and lack of innovation.
What this does mean is that the sector is ripe for forced reform by more aggressive and large-scale manufacturers with the competitive drive and marketing nonce to woe consumers and push competitors out of the way. The canned food sector may be weak at present, but that in itself creates a situation ripe with opportunity for investors and marketers. ...' |
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