DUBLIN, June 24, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/f3h76n/dairy_products) has announced the addition of the "Dairy Products Market in China 2015-2019" report to their offering.
The dairy products market in China to grow at a CAGR of 9.76% over the period 2014-2019.
China is one of the largest importers of food and beverage products globally. Imported goods are primarily sold at retail chains such as hypermarkets, supermarkets, and convenience stores. Online shopping for food and beverages is catching on in China because of growing urbanization and high Internet penetration.
Growing health concerns among consumers are resulting in increased demand for premium quality dairy products that contain protein, calcium, B12, vitamins, and other nutrients. Manufacturers are introducing new products with added health benefits to cater to this growing demand. Many new companies are entering the market with different product offerings. In addition, existing vendors are expanding their product portfolios and upgrading their manufacturing facilities to meet the varied demands of consumers. Innovative products such as spoonable and flavored yogurts for children have been introduced in the market. The sales of the new Ambrosial UHT yogurt launched by Yili are increasing by more than 150% quarterly. International vendors such as Organic Valley are entering the market with a range of organic dairy products.
According to the report, China is expected to be the world's largest dairy market by 2018. It is also one of the key players and leading importers of dairy products in the global dairy market. Dairy imports have increased in the past five years. Imported dairy products are sold as premium products in the market. Increased urbanization and rise in disposable incomes have influenced consumer buying behavior in China, leading to better living standards and increased demand for these premium products. China has urbanized rapidly over the past three decades because of the demands of the growing population. Disposable income in China has increased in 2014. Consumers are now willing to spend more on FMCG including dairy products, leading to growth in the market.
Further, the report states that the many alternatives to dairy products are available in China, including milk derived from nuts and cereals such as soy, almond, and rice.
The report further provides data on the following segments of the market:
- Milk: liquid milk, flavored milk, and milk powder
- Cheese: natural cheese and processed cheese
- Butter: all types of butter except margarine
- Yogurt: spoonable yogurt, set yogurt, and yogurt drinks
- Other dairy products: coffee whitener and condensed milk
- Bright Food (Group)
- China Mengniu Dairy
- Hangzhou Wahaha Group
- Inner Mongolia Yili Industrial Group
- Want Want Holding
Other Prominent Vendors
- Beijing San Yuan Foods
- China Dairy Group
- Wonder Sun Dairy
For more information visit http://www.researchandmarkets.com/research/f3h76n/dairy_products
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SOURCE Research and Markets