Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
ByteDance Targets July Launch of Upgraded AI Video Model
Embodied AI Startup Kunlunxing Lands Multibillion Yuan Raise
Europe Has a Lot to Learn From China About Electric Trucks, Volvo CTO Says
LATEST
Europe Has a Lot to Learn From China About Electric Trucks, Volvo CTO Says
Embodied AI Startup Kunlunxing Lands Multibillion Yuan Raise
ByteDance Targets July Launch of Upgraded AI Video Model
China’s Starlink Challenger Seeks Up to $2.2 Billion for Satellite Network Push
New Model Propels Zhipu AI’s Market Value to Record HK$1 Trillion
In AI Pitch, Alibaba Chairman Urges Europe to Look Beyond U.S. Tech
Cover Story: China’s AI Boom Is Rewiring Its Power Grid
In Depth: How AI Is Rewiring White-Collar Work in China
Chipmaker YMTC Cedes Control of Foundry Unit Ahead of Mega IPO
Chinese Startup Manifold AI Raises Fresh Funding as Investors Bet on ‘World Models’
Crealights Takes Step Closer to Hong Kong IPO as Data Center Boom Fuels Growth Prospects
Tencent Lets AI Agent Make Purchases Through WeChat Pay
Galaxea AI Chief Says China Could Lead Robotics Models Within Three Years
SiliconFlow Raises $294 Million as China’s AI Inference Demand Surges
Ant Revamps Alipay With AI Assistant in Biggest App Overhaul
New Model Sends Zhipu AI’s Stock Soaring
DJI, Insta360 File Competing U.S. Patent Lawsuits Over Camera Tech
Cover Story: When Employees Leave, Their AI Clones Carry on Working
AI Stocks Zhipu, MiniMax Slide as Lock-Up Expirations Near
Japan’s Chip Exports to China Surge as Bilateral Trade Rebounds

By Charlotte Yang / Dec 20, 2018 05:08 PM / Business & Tech

Photo: VCG

Photo: VCG

There are the usual items familiar to consumers from developed economies: potato chips, yogurt, and chocolates.

But there are more niche items, as well, such as fiber-infused sodas and mouth-numbing peanuts. And regional specialities like candied fruits from Xinjiang and rose-flavored pastries from Yunnan.

An ever-diverse array of snacks has become one of the most promising sectors in China’s fast-moving consumer goods market, according to a new report.

The sector expanded fourfold from 2006 to 2016, from 424 billion yuan ($61 billion) to 2.2 trillion yuan. It will reach 3 trillion yuan ($435 billion) by 2020, according to estimates in the report, published Monday by China’s Ministry of Commerce.

What’s behind the boom?

The report credits households’ rising disposable income and more willingness to spend on social activities. It also cited better branding and higher quality goods, as well as more diverse and convenient channels to purchase the items, from supermarkets to e-commerce platforms.

Related: Chinese Hunger for Exotic Flavors Drives Food Import Growth

Share this article
Open WeChat and scan the QR code