China is the largest food producer in the world, with 1.4 billion consumers. Food safety incidents in the past have encouraged the Chinese government make food safety a top priority.
In 2015, China’s food industry production value reached € 1.66 trillion. By the end of 2016, the economic cost related to food safety was estimated to be € 676 million.
Business opportunities for European companies in this sector include:
- Food safety testing sector – Advanced testing equipment, technology, methods, training and management systems are in high demand. The food safety testing market is forecasted to reach € 713 million in 2020 with a CAGR of 9.9% from 2016 to 2020
- Food traceability – its market size will be over € 10 billion
- Food storage and transport – the cold chain is still developing and has a strong potential. The market was worth € 21.4 billion in 2015 and is projected to reach between € 47 billion to € 63 billion by 2020
- Farming practices/systems are lacking in the Chinese market, especially in the dairy industry, and solutions to recover polluted farm land and water
- Chinese food producers are looking for any food supply chain safety technologies and systems that can increase production efficiency, decrease waste, reduce human error, prevent food fraud or enhance food safety & quality
- Food safety technologies, systems and standards for organic food are in high demand in China. The organic food market size in China has been estimated at € 3.4 billion to € 8 billion and has been growing at a CAGR of 15%. The shortage of organic food has been around 30% for several years
- Certification services for common standards such as ISO or Global GAP are highly competitive
- Smart food labelling technology that can tell consumers the authentication, status or temperature history of food may become the future of the food market of China
- If your company is active in one or more of the sectors mentioned above, participate to the upcoming EU Gateway | Business Avenues mission on Food Safety Technologies and Services to Shanghai, scheduled from 15-19 May 2017. Participating companies will also visit Asia's largest food innovation exhibition: SIAL China
Deadline for application is 20 January, 2017, apply now!