Chinese food industry recorded revenues of CNY 126.3 Billion during the first half of year 2006 said Chinese Food Industry Association.

During the H1, 2006, Chinese food industry earned revenues of CNY 126.3 billion, representing an increase by 29.05% on year 2005. The revenues generated by the 47 food firms amounted to CNY 3.33 billion (i.e. US$ 0.43 billion) rising by 75.2% on the same period in previous year.

As per data published by CFIA (Chinese Food Industry Association), value of Chinese food industry's overall production was CNY 2000 billion (i.e. US$ 2.56 Billion) over the first ten months of this year (2006), representing an increase of 23.17% compared to the same period last year.

Below 10% of the food in China undergoes a food-processing plant, therefore the industry has great potential for further expansion. Current growth rate is nearly 13% per year. Among the most-promising areas include juices, health drinks, and water. Dairy products particularly will become very significant.

Beverage has been amongst the best-performing industries over the year 2006. The total production of this sector was 35.96 million Tons, a 22% rise as compared to the previous year. Investments in beverage sector also reached CNY 41.614 billion, representing an 8.7% increase - one of the bests in all Chinese industries.

As per the President of food industry in China, the overall economic condition of the country over the last ten months had been overall good, laying down the foundation for the rapid growth of this industry.

As per a food industry analyst at RNCOS, "Changing consumer preferences is the key driving force behind the Chinese food & additives market. Change in their dietary patterns, demands for nutritious & functional food are amongst those several reasons that have provided many opportunities for the food additives markets in China."

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