China hosts one of the most rapidly growing middle-class consumers in the world, which provide a tremendous growth for the food & beverage(F&B) industry. In fact, the F&B industry in China has a US$ 700 billon share of the global market, which makes the market remains a capitative scheme for international companies. In recent years, China’s demand for foreign food & beverage products is developing at a brisk speed along with its rapid economic development. In 2019, China’s food imports reached US$90.8 billion, showing a year-on-year growth of 23.4 percent. According to a recent report, the country is expected to import more than US$100 billion worth of foods in 2021.
Meanwhile, as China enters the recovery phase after months of battling the convid-19 outbreak, the F&B sector in China have started to resume operations. However, the activities across the value chain are taking a different direction as those were before the pandemic. From the introduction of automated, contactless sales against the rising food safety concerns, to technological advancements like blockchain to enhance visibility and transparency into the F&B supply chain, and onto safe online purchasing and offline food delivery involving ‘no touch’ technology, the F&B industry in China has been constantly updated and iterated.
While Chinese F&B market offers great potential for growth, European companies need to be sensitive and responsive to its unique market structure, different eating habits and culture factors, especially when China consumer market is continuously evolving along with its rapid development of digital economy.
The China Chapter of the EU Tech Chamber (EUTECH) takes great pleasure to welcome you to join our next Digital Talk on June 24th, Thursday,2021, 9am – 10:30 am (CET) about “Food and Beverage Business in China”.
Do not miss the opportunity and register now:
- Welcome Words
- Short Intro about the EU Tech Chambers Mission
- Keynote Speech
- Panel Discussion