China’s fresh produce retail market is impressive not only for its present scale, but also its vast untapped potential. The market value for fresh goods (fresh produce, meat, eggs, dairy, seafood) was $738 billion in 2019, of which $407 billion was for fresh produce. But viewed from a per capita perspective, annual retail spending on fresh goods in 2020 was only $525.
China is in the midst of a steady march from middle-income to developed country status, which is spurring an unprecedented increase in the size of the middle class and a continuous upgrading of consumer consumption patterns. Under prevailing economic conditions, China’s fresh produce retail market is poised for strong growth in coming years.
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