New Delhi, October 13, 2018: The China dairy market and its products are expected to be a USD 114 Billion industry by 2024
Increasing disposable income, a growing health-conscious population, availability in various flavors especially in ice-cream and Chinese government initiatives for dairy production and quality concern are driving this market. However, the quality of dairy products is a big concern for Chinese consumers as in the past, a number of scandals in dairy products especially domestic infant formula shattered consumer’s confidence in Chinese dairy industry. The most famous incident was 2008 melamine milk scandal in which around tens of thousands of children were affected according to businesswire.com.
2016 was not a good year for the Chinese dairy production industry, since production declined due to small farmers exiting from the market, downhill economic returns and large farmers were expected to hold up their expansion plan. But this situation was changed in the 2017 as the Chinese government has focused on the dairy industry in their thirteenth Five-Year Plan (FYP).
This market research report provides a complete analysis of the China Dairy Market, Growth Drivers, Challenges, and their projections for the upcoming years.