Swiss food company Nestlé expects its sales in China to rise by 20% in 2012 due to increasing wages and the government’s policy to promote local consumption.
Greater China Chairman Roland Decorvet was quoted by Bloomberg as saying that the company has witnessed a growth in most of the businesses in China - including dairy products and coffee.
Nestlé's China sales increased by more than 20% in 2011 and will rise by a double-digit percentage in 2013, he added.
Nestlé noted that it can tap into the coffee segment in the country, as Chinese consumers drink four cups of coffee on average annually, while the figure is 150 in Hong Kong, 400 in Japan and 600 in the US.
In 2011, the company acquired a majority stake in Hsu Fu Chi, a Chinese snack and candy maker, and Yinlu Foods to strengthen its business in the country.
