Boston, MA -- (ReleaseWire) -- 03/17/2014 -- While we are bullish on the long-term prospects for the Chinese consumer sector, the country's domestic demand rebalancing is likely to be a long, drawn-out process. An acceleration of household spending driven by sizeable personal savings and rising wages would compensate for a reduction in capital outlay, helping to keep the economy motoring along at its current rate of expansion. Indeed, the vast size of China's consumer base, the undeveloped nature of organised retail, the relatively low penetration of services, and the strong scope for premiumisation are all structural positives and underpin our view that private consumption will slowly rise as a share of nominal GDP over the next decade.
Headline Industry Data
- 2014 food consumption local currency = +9.7%; compound annual growth rate (CAGR) forecast to 2018 = +9.4%.
- 2014 beer volume sales = +8.9%; CAGR forecast to 2018 = +8.7%.
- 2014 soft drinks volume sales = +7.4%; CAGR forecast to 2018 = +6.7%.
- 2014 mass grocery retail sales = +9%; CAGR forecast to 2018 = +9%.
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Key Company Trends
Hershey Signals Intent With Chinese Acquisition: Hershey signalled its intention to increase its global exposure, the US confectionary giant agreed in January 2014 to purchase Chinese confectionary producer Shanghai Golden Monkey (SGM) in the largest acquisition of the company's history.
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