Frozen Foods in China 2009: A Market Analysis

Abstract

REPORT COVERAGE

This report covers the market for frozen foods in the People' s Republic of China. The report covers the following sectors:

• Ready meals
• Meat products
• Fish & seafood
• Vegetables
• Pizza
• Pastry products
• Potato products
• Desserts
• Fruits

KEY REPORT FEATURES

This recently updated report includes:

• An overview of China' s total food market with sales statistics up to 2008;
• The total value of the frozen food market, including sector breakdown, up to 2008;
• Value provincial and urban/rural breakdown, up to 2008;
• Market share analysis of the frozen food market up to 2007;
• Retail pricing trends for frozen food products by province up to 2008, and by sector (2008);
• Price checks for frozen foods, March 2009;
• Volume & value forecast total frozen food market in China up to 2013;
• Statistical analysis of China' s advertising, marketing and consumer trends;
• Key manufacturer profiles and financials;
• Key contacts & trade events;
• Overview of China' s demographics and macroeconomics.

Executive Summary

Total sales of frozen foods in China increased in value to RMB94.7bn by 2008, rising in value by 140% over 2002. Frozen potato products were the fastest growing sector, but from a very low base. The largest sector is for frozen ready meals, which are becoming increasingly sophisticated in range in China now. Per capita consumption grew by 70% since 2002 to reach 3.47KG per capita by 2008.

The regional extension of the rural appliances rebate scheme, which includes fridges-freezers, coupled with significant recent spread organised retail chains into rural regions, could add several million new households as owners of such appliances, creating a large additional potential consumer group for frozen foods.

Also, as the Chinese economy lurches from being one reliant on export manufacturing to one more reliant on a robust domestic consumer market, the retail market is becoming even more important to the country. The race is now on to create the infrastructure that will bring more of rural China into the fold of the consuming classes, driving a need for new transport and storage facilities, computerised inventory, a closed chill-chain, modern management systems and all the other accoutrements of a developed retail system.

While frozen foods may not have been one of the fastest growing sectors in the Chinese food market of late, it is expected to see strong growth in the coming years, with increasing market shares for the large market leaders, such as Shineway, Zhongpin, Yurun and Synear. The total frozen food market is expected to grow by over 30% in constant values over the next 5 years, to reach over RMB130bn.