ShareFrozen food production in China
The industry size has increased from RMB 4.566 billion (about 0.8 USD billion) in 2004 to RMB 64.981 billion (about 10.2 USD billion) in 2013, with a CAGR (Compound Annual Growth Rate) of 30.4.
According to ResearchAndMarkets, the frozen food production industry in China developed rapidly in the past decade. The industry size has increased from RMB 4.566 billion (approximately. 0.8 USD billion) in 2004 to RMB 64.981 billion (approximately 10.2 USD billion) in 2013, with a CAGR (Compound Annual Growth Rate) of 30.42.
According to IbisWorld, in the five years through 2015, industry revenue is expected to increase at an annualized 16.5% to USD 14.7 billion. This industry accounts for 112,765 employees in 465 businesses.
This strong growth is mainly due to higher disposable incomes, higher product prices and changing consumption trends caused by the faster pace of modern life. A wider variety of frozen foods, product quality improvements, high growth in mid-range and high-end product segments, and the development of new markets also contributed to this growth.
According to IbisWorld, in the five years through 2015, industry revenue is expected to increase at an annualized 16.5% to USD 14.7 billion. This industry accounts for 112,765 employees in 465 businesses.
This strong growth is mainly due to higher disposable incomes, higher product prices and changing consumption trends caused by the faster pace of modern life. A wider variety of frozen foods, product quality improvements, high growth in mid-range and high-end product segments, and the development of new markets also contributed to this growth.