The government initiatives to maintain supply-demand, to
transform agronomic practices, enhance technological processing and to curb adulteration
coupled with change in consumers’ dietary pattern to drive China cooking oil
market in the future
 |
| China Cooking Oil Industry Revenue |
The
market landscape of China cooking oil market had grown competitive in recent
years due to the swift surge in demand. Additionally, China cooking oil market
has been affected by government legislations and regulations, predominant
challenges pertaining to agricultural practices and consumption, transition to
increasing urbanization, price trends and distribution network. The market has
registered a CAGR of 5.1% during the period
MY’2009-MY’2013 by rising supply of
cooking oils from ~ thousand tons in MY’2009 to ~ thousand
tons in MY’2013.
Soybean, rapeseed and
peanut cooking oils are the predominantly sold cooking oils. During the period
MY’2010 to MY’2013 the overall consumer expenditure on cooking oil has swelled
at a CAGR of ~%, thereby heaving to total revenues of USD ~billion during this
period. China is one of the world's largest importers of oilseeds and cooking oil.
The country imported ~ thousand tons of oilseeds while ~ thousand tons of
cooking oil in MY’2013.
The government of
China aspires to develop environmentally friendly market for sustainable palm
oil. Moreover, to stimulate lagging production of major oilseeds such as
soybean, the government executed a soybean oilseed production support program. To curb adulterated consumption of cooking oil,
government has initiated regulating the industry through its labeling system
for packed cooking oils. The upcoming labeling laws are expected to favor
existing large premium quality brands.
Moreover, the consumers are turning more vigilant towards their health and
readily overlooking the prices. This changing attitude is expected to alter
dietary patterns of consumers towards healthier oils such as olive oil.
The leading cooking oil
companies dominating the China cooking market include Wilmar International, China
National Cereals, Oils and Foodstuffs Corporation (COFCO) and Shandong Luhua Group. The major cooking oil brands which were sold by
these companies include Jinlongyu, Luhua and Fortune. It is anticipated that
the organized segment of the China cooking oil market is likely to increase its
share due to upcoming stringent quality norms laid by the government.
“The cooking oil market in
China is poorly regulated with intrusion of low-cost and poor quality cooking
oils. Hence, the government endeavors to regulate the industry through its
labeling system for packed cooking oils. Additionally, better and adequate production
tools, enhanced agronomic practices followed with substantial improvement in
technology resources and input quality are likely to rephrase the existing
China cooking oil market”-According to the Research Analyst, Ken Research.
The report titled “China Cooking Oil Market Prospects to 2018
- Upgrading Agro-Economic System to Forerun Market” provides detailed overview on cooking oil
market in China and helps reader to identify the ongoing trends and
developments in the cooking oil industry and anticipated growth in future
depending upon changing industry dynamics in coming years. The report will aid
industry consultants, cooking oil producing companies, marketing companies and
other stakeholders and consumers to align their market centric strategies according
to ongoing and expected trends in future.
Browse report
with TOC- http://www.kenresearch.com/agriculture-food-beverages/food-industry-research-reports/china-cooking-oil-market-research-report/526-104.html
Contact Person- Ankur Gupta
Contact Email Id- ankur@kenresearch.com
