The oil & fats industry in China will continue its growing spree going forward, finds a new survey report by UK-based research firm Canadean - Food.
According to the report 'The Future of the Oils & Fats Market in China, to 2016', the compound annual growth rate (CAGR) of the industry's market value is expected to be pegged at 5.46% during 2011-2016, compared to 4.47% growth rate that it posted between 2006 and 2011.
The CAGR in volume terms will also grow in the next few years, but at a pace lesser than it will be in value terms; the survey forecast a 5.8% growth rate during 2011-2016 over 5.2% in the review period.
China witnessed a significant growth in the oil & fats market size every year, starting 2006 through 2011 and is believed to continue the momentum until 2016.
The market size of the industry in 2011 was more than 24% higher compared to its 2006 figures and is all set to grow further by beyond 30% in 2016 over 2011.
A fairly similar growth trend was observed in volume terms, where consumption of oils & fats in China was 28.5% more in 2011 over 2006 and on course to touch nearly 32.5% in 2016.
Both segments of the industry, oils and solid fats, have contributed to the overall industry growth in the past and drive the future growth together with promising performance.
Canadean report also provides volume analysis by brands and value analysis by distribution channel, besides describing the growth dynamics from both volume and value perspectives, for each segment.
