Beijing – January 12, 2021
China’s Rising Bakery Sector China’s bakery sector has been expanding rapidly in recent years, underpinned by the country’s rising middle class, ongoing Westernization of lifestyles and diets, and increasing demand for convenient food options.
Euromonitor International estimates retail sales of baked goods (packaged and unpackaged) in China at $34 billion in 2020, comprising 9 percent of global retail sales.
This makes China the world’s second-largest baked goods retail market after the United States (at $67 billion).
Furthermore, the growth potential for China’s bakery sector is unparalleled, given the country’s population and relatively low consumption base.
Per capita consumption of baked products is currently 7.2 kilograms (kg) per year, compared to 22.5 kg in Japan, and 40.2 kg in the United States.
1 Euromonitor International forecasts that retail sales of baked goods in China will grow to $53 billion by 2025, a 53-percent jump from current levels.
Source: USDA
