China is seeing a rise in the urban middle class population among its already existing high population. This middle class population is consuming less than one third of the global per capita milk consumption average. Thus, one can foresee good prospect in the country’s dairy market.
The global dairy markets have shown a steady growth this year. Milk production from the major suppliers is on the rise. The amount of milk bought by China though is unparalleled with the others and is a huge support to the global dairy complex. With economic growth and rise in per capital income, the demand for dairy products in China will keep increasing and so will the demand for imported dairy products.
In recent years, regular safety incidents of domestic dairy products have been of concern to people of China. This has made consumers, especially parents of infants, turn to imported ones. According to expert research results, 2.0519 million tons of dairy products were imported into China in 2014. This number is increasing 12.30% year on year with a total value of USD 8.487 billion. Specifically, the import volume of milk powder was 0.9237 million tons and its import value was USD 4.437 billion, respectively increasing at 8.11% and 23.77% year on year.
Thus, in the current situation, there are many buyers not willing to spend on what China’s domestic market has to offer. The middle class population is increasingly consuming milk supplied from other parts of the world. There is an increasing dependency on imported dairy product. Thus, fat filled milk powders and other economic milk solids substitutes are in huge demand in the China Dairy market.
Thus, it is believed that China is a big prospect market for global dairy industry. Read more on China Dairy Industry: Present & Future at http://emarketorg.com/pro/china-dairy-industry-present-future/