China land of opportunities for poultry exporters
Citing data from the United Nations (UN), the world population would reach 9.8 billion people by 2050, with Asia adding 750 million. Further highlighting the potential in China, its pointed out that nine of the top 15 megacities (defined by having a population of 10m or more) are located on the continent and 8 of them in China.
While populations are on the rise, so are the social statuses of the citizens. Seventy per cent of the world middle-class consumption will come from Asia by 2050, and 88% of the next billion into the middle class will be in Asia. This rise in population and increase in disposable income will present many opportunities for exporters. Asia will account for 60% of global animal protein growth from 2015 to 2025. Moving forward, some countries are relying more heavily on poultry imports, and China giving up on trying to be self-sufficient. With a growing interest in poultry, there are also opportunities to tap into the market using other methods.
The poultry industry in China is going through a very rapid change. This is being driven by consumers who want world-class food systems delivered to them. E-commerce sales in China are expected to account for 17% of total retail sales in 2017. By 2020, e-commerce is forecast to contribute one-quarter of retail sales. E-commerce sales in China are higher than the next six countries combined. With a growing population and a growing appetite for poultry, there is an array of opportunities for European poultry producers in the Far East.
Source: AVEC Luxembourg