China is second only to the US in terms of consumption of finished meat products. In 2023, the finished meat product market volume in China exceeded 4.5 million tons, with a share of imported brands not higher than 1%.
The Strategy Partners project manager Mark Boychuk analyzed the market in China for “Agroexport”. The expert noted that the finished meat products are one of the important components of Chinese cuisine. The most popular products are ham and sausages (for example, Jinhua ham and Chinese sausages Lap Cheong).
The popularity of the finished meat products is influenced by the local lifestyle, the expert said. With the increase of its pace, the Chinese have less time to cook food, and as a result, they are increasingly turning their attention to ready-made foods: frozen semi-finished products, hams, nuggets, dumplings, etc.
Despite the gradual increase in demand for finished meat products, the Chinese are able to meet domestic needs using their own capacities. According to the expert, the ratio of their own production to domestic consumption of finished meat products is estimated at 124% in 2023. The market share of imported brands does not exceed 1%. As a consequence, potential Russian exporters will have to face strong competition from local producers when entering the Chinese market.
However, the market in Hong Kong has a special environment. The city, as the expert noted, does not have a large-scale own production of finished meat products and provides its needs entirely through imports (mainly from mainland China). The average price of meat products in Hong Kong is usually very high, but some sub-categories that Russian suppliers can offer (such as cooked and smoked wings, vacuum packed breasts) are relatively high in demand among consumers.
“In order to be successful in the Chinese market, Russian exporters (after obtaining the necessary supply permit) will need to adapt their products to the requirements and preferences established in the national and regional markets. For example, unlike Russia, ham is usually sold in cans in China, while sausages must have a shelf life of at least 60 days. Not to mention the wide variety of flavors and packaging options,” the expert said.
Source: www.sfera.fm