China Should Be a Promising Market For Food Safety Products, Study FindsFriday, October 2, 2009
(American Meat Institute)
China’s demand for food safety products is forecast to grow 15 percent per annum through 2013 to 13 billion yuan (U.S. $2 billion), according to a new 252-page Freedonia industry study, entitled “Food Safety Products in China.”
The study notes that growth will be largely fueled by food and beverage output in processed food, beverage and dairy segments, which are more intensive users of these products. A greater focus on food safety and supply chain security by larger food processing firms in China will also boost growth.
Recent growth is partly in response to enhanced government regulation, in particular the Food Safety Law introduced in 2009. However, the study says that consumer concerns in both domestic and export food markets following a series of food safety scares involving Chinese food will also prompt spending on food safety products by those involved in the various production aspects of the food industry.
For complete details on the study, go to http://www.freedoniagroup.com/.
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