Firms predict boom in bakery market
Print Edition
China’s bakery market is expected to enjoy exponential growth and overseas dairy makers are hoping to grab a piece of the cake, serving both Chinese and Western-style deserts and beverages.
The world’s largest dairy exporter Fonterra is no longer satisfied with just selling dairy and baking material to local vendors and consumers, but also hopes to deliver a whole range of products.
Fonterra China President Christina Zhu said its food professionals sector is the fastest-growing business in China and it is working closely with local caterers to offer innovative dishes and tastes.
“The competitive market requires a forward-looking attitude when we work on innovative products and industry solution for the food businesses here,” she said.
The value of China’s bakery industry is expected to be 362 billion yuan (US$52.78 billion) by 2022 with room for growth in terms of average consumption volume, according to consultancy Strategy&.
Ireland’s largest dairy producer Glanbia is expecting a growing contribution from its bakery raw material Avonmore in China. “We see a competitive dairy market in China but also unmet demand, especially for baking material such as whipping cream, said Stephen Browne, director of exports at Glanbia Consumer Food.
Marketing director for Avonmore Niamh Parlon said it is introducing butter and cheese to China this year after exploring preliminary opportunities in the past two years and seeks better recognition among the mass consumer.
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