By 2024, food consumption in China will amount to 2 trillion US dollars
Elena Simonenko, head of the department of the Research Institute of Baby Food, noted that China ranks first in the world in terms of the retail and food market, it is also the leader in the consumption of food and beverages, which is 1 trillion US dollars. According to experts, food consumption in China will grow and by 2024 will amount to about 2 trillion US dollars. For comparison, the food market in Russia is 219 billion US dollars.
According to Elena Simonenko, this is due to the improvement of the economic situation in China and the growth of household incomes over the past 10 years. An important factor is the increase in the population, which has reached 1.5 billion people.
‘The trade turnover continues to grow, the main trend is the active urbanization of the population, the share of citizens is already more than 60%, therefore, the demand for finished products is increasing,’ the expert stressed.
"The trade turnover continues to grow, the main trend is the active urbanization of the population, the share of citizens is already more than 60%, therefore, the demand for finished products is increasing," the expert stressed.
