Foods and beverages are the major sectors in Foshan, and a pillar industry for Guangdong as a whole. A range of industry players, from multinational companies producing consumer goods on a large scale to smaller players with specialized products, are driven by a rich consumer base, which seeks diversity, quality and value.
The world’s largest consumer market for foreign food products. With the world's largest population, China has also emerged as its largest consumer market for F&B, surpassing the United States, according to recent reports. By 2018, the Association of Food Industries predicts that China will be the world’s largest consumer of imported food. This makes the Chinese market increasingly appealing for foreign brands. Opportunities for small and medium-sized companies, as well as world-renowned household names, to sell products in China will likely grow further.
“China is the second fastest growing F&B market out of all major Asian countries, with an average annual growth rate of 30% in the past five years. ”
——Chinese Ministry of Commerce
Did you know?
Foshan is home to Haitian Flavouring & Food Co. Ltd., the largest manufacturer of soy sauce in the world.