China’s canned meat and poultry market is worth US$3,000m, according to a new report from Beijing analysts Zeefer Consulting.
The report revealed that the Chinese canned meat and poultry market has shown rapid growth over the past five years, with a compound annual growth rate of 43% from 2007 to 2011. Last year, the market grew by 43.72%.
It added that the provinces of Sichuan, Shandong and Henan are the major production bases for canned meat and poultry, with 37 medium-to-large enterprises in this area accounting for 46.25% of all production in 2011.
Across the country, there are a total of 80 medium-to-large canned meat and poultry businesses. Of these, nine are foreign-owned companies, accounting for a share of 11.25% of the market. Six of these foreign enterprises made 66.67% of the total profit.