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China's Condiment Market Driven by Growth in the Food Industry

Date:07-01-2014

In China, the condiments market is one of the most flourishing and fastest growing food industries. In 2013, the condiments market in China was valued to be around 131.19 billion yuan. The condiment market in China typically consists of products such as monosodium glutamate (MSG), soy sauce, different types of vinegar such as rice vinegar and black vinegar, chicken powder, bean sauce, hoisin sauce, duck sauce etc. The condiments industry in China has grown steadily in recent years and it is expected to grow significantly in the future. Nontraditional condiment products such as brown sauce, teriyaki sauce, barbeque sauce and flavored salts have also increased in China in recent years. Globalization in China is spurring consumer’s interest in exotic cuisine which is fueling the growth of nontraditional condiments in China.

Market Overview
In the period from 2008 to 2012, the condiments market in China grew at a compound annual growth rate of 17%. Of the overall Chinese condiments market, the highest demand was from the soy sauce and vinegar sector and these sectors grew at a compound annual growth rate of 23%. Some of the factors that are contributing to the growth in the market are increase in household consumption, change in spending pattern of consumers and rapid development of food production and catering industry. In Chinese cuisine, condiments such as soy sauce and rice vinegar are used on a daily basis. This is one of the main reasons that the condiments industry in China has been growing at a steady rate. In 2012, the soy sauce production in China reached around seven million tons. This represented a year-on-year increase of 3.7%. From the period from January to October 2013, the soy sauce production in China was around 6.1 million tons, which represented a year-on-year increase of 8.1%. In China, there are around 300 soy sauce producing enterprises and some of the major soy sauce brands are Lee Kum Kee, HaiTian, JiaJia and MeiWeiXian. These four brands account for nearly 30.5% of the overall market share.

The Chinese market for vinegar products has also witnessed steady growth. Currently, there are around 6000 enterprises in China that are involved in the production of different types of vinegar. Some of the key players in the Chinese vinegar industry are Sichuan Baoning Vinegar Co. Ltd., Jiangsu Hengshun Vinegar Industry Co. Ltd. and Shanxi Shuita Vinegar Co. Ltd. The largest producer of vinegar in China is Jiangsu Hengshun Vinegar Industry Co. Ltd. and it accounts for 7.1% of the total vinegar production in China. The chicken essence and MSG market in China are also witnessing steady growth. Some of the key players in the Chinese MSG market are Meihua Holdings Group Co. Ltd., Henan Lotus Flower Gourmet Powder Co. Ltd. and Fufeng Group Ltd. With development of the food production industry and demand from household consumers, the Chinese condiments market is expected to witness steady growth.

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