Analysts tip Asian affluence for fresh produce growth

Two food market analysts have pointed out the transformation that Asia's rapidly growing middle class is bringing to the global fresh produce market.

Promar International consultant Andrew McLay said: "There is little population growth in developed markets, but a growing middle class elsewhere - people who shop at supermarkets, buy branded goods and so on. There are 500 million such people in Asia now and they will be three billion by 2050."

An Australian study found that fruit and vegetables will be second only to meat as an import opportunity to China, he added. "Future demand is assured."

The study projected a rise in China's imports of fruit and vegetables from under US $10bn in 2007 to around US $60bn by 2050.

"You will also get companies from emerging markets inverting in developed markets," McLay added. "Already the biggest beef company in the world is not American - it's Brazilian."

Meanwhile, European Food & Farming Partnerships partner Duncan Rawson agreed that the growth of affluence, rather than population numbers, was the driving force. "The rise of China is an opportunity for us to supply them but it is also a threat because they can supply us too."

Rawson said while longer-term predictions have a habit of quickly becoming obsolete: "Whichever way China goes now has a big impact on everyone else."


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Read These Next

Is leaving the EU an opportunity to harness the potential of agri-tech?

Is leaving the EU an opportunity to harness the potential of agri-tech?

A group of leading industry and research figures has agreed a series of agri-tech measures that will be recommended to Government as a means of making British farming more profitable and productive post-Brexit.

What do fruit and vegetable growers hope for from a renationalised farming policy?

What do fruit and vegetable growers hope for from a renationalised farming policy?

Defra's "Health & Harmony" consultation paper, which closed for responses this week, has given growers and their representative bodies a chance to shape the largest reformulation of farming and land-use policy in nearly half a century.

Protected Cropping Structures - Polytunnels

Protected Cropping Structures - Polytunnels

Cost factors, ventilation benefits and the ability to fit new advanced films are some of the reasons behind the popularity of these structures, says Sally Drury.


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

Horticulture Week Top UK FRUIT PRODUCERS

See our exclusive ranking of fruit producers by annual turnover. 

Horticulture Jobs
More Horticulture Jobs

Pest & Disease Tracker bulletin 

The latest pest and disease alerts, how to treat them, plus EAMU updates, sent direct to your inbox.

Sign up here

Professor Geoffrey Dixon

GreenGene International chair Geoff Dixon on the business of fresh produce production
 

Read Professor Geoffrey Dixon