China’s Import Surge China is known as an exporting powerhouse. With new trends and changing behaviors, it is hardly surprising that growth in imports—26% in May 2018 alone—are now far outpacing exports. This is primarily driven by demand for commodities and consumer goods. As Chinese consumers become wealthier, their demand for more and higher quality
The Growth of China’s Essential Oils Market China is among the world’s top emerging markets for essential oils. estimated industry revenues totaling $12.7 billion in 2017, with a forecast of 8.5 % annual growth rate through 2023. As Chinese interest in essential oils is deeply rooted in culture, the market growth comes as no surprise.
Chinese Women are Raising Their Glasses China has become the largest market for alcoholic beverages in the world, with an estimated value of US$ 285 million. Increased alcohol consumption in China is being driven by multiple factors. One of the largest factors is increased consumption by women in China—namely millennial women (those born between 1981
A Craft Beer Revolution is Taking Place in China China’s beer market, estimated to be worth 683 billion CNY (108.6 billion USD) by 2019, is the world’s largest beer market by volume, with at least 450 million hectoliters sold per year. For decades, low-end mass-market brews have dominated China’s beer industry. No longer. A craft
China’s Skincare Market is Booming China’s skincare market is large and growing quickly. In 2017, Euromonitor valued the aggregate retail sales volume of skincare and cosmetics products at RMB 245.3 billion (US$ 38.3 billion), with analysts anticipating a growth rate of 9.1% for 2018. But what’s driving this growth? What do Chinese consumers want? Chinese Consumers Want
Huge Potential Spending Power China’s cities will contribute $7 Trillion to global consumer spending—30% of the total—by 2030, according to McKinsey. That is significant, even for a country as populous as China’s. The country’s largest cities—most notably Beijing, Shanghai, Guangzhou, and Shenzhen—account for an outsized portion of GDP and consumer spending.These 4 cities (referred to