Beijing: The China Federation of Logistics and Purchasing released the ‘Chinese Food Supply Chain Development Report (2024)’. According to the report, China’s food consumption demand continues to grow, and the food supply chain and enterprise chain are gradually moving upward.
According to the report, China’s food consumption increased significantly in 2023. The scale of catering consumption reached 21.2 trillion yuan, an increase of 20.45 percent compared with 2022.
The scale of retail food consumption reached 72.5 trillion yuan, an increase of 7.66 percent compared with 2022. The chain rate of the catering industry continues to increase due to the recovery and development of the catering market.
China’s food consumption is gradually shifting from ‘quantity-driven’ to ‘quality-driven’. According to Chue Chongfu, vice president of the China Federation of Logistics and Purchasing, China is the world’s largest food consumption market, accounting for about a quarter of the world’s food production.
Against the backdrop of the slowdown in global food trade, China’s food consumption market will reach 93.7 trillion yuan in 2023, an increase of 10.31 percent over 2022, and demand will continue to grow.
At the same time, China’s food supply chain and enterprise chain are gradually moving upward. Survey results of 100 major food supply chain companies show that the penetration rate of the base direct purchase model in 2023 has exceeded 80 percent.
