The turnover of the wholesale food and beverages market in China exhibited significant fluctuations over the past decade, peaking in 2013 at 595.72 hundred million yuans and steadily declining to 176.9 hundred million yuans in 2023. The market saw dramatic decreases, especially in 2014 (-54.46%) and 2019 (-28.24%), with sporadic minor recoveries such as in 2021 (+15.45%). From 2018 to 2023, the market had an average annual decrease of 5.8%.
Looking forward from 2024, the forecasted data suggest a continuing decline with an anticipated average annual decrease of 6.63%, predicting a turnover of 116.91 hundred million yuans by 2028, representing a cumulative drop of 29.05% over five years.
Future trends to watch for include:
- A potential shift in consumer preferences towards digital and direct-to-consumer food sales models.
- Regulatory changes in food safety and e-commerce that could impact wholesale channels.
- The influence of technological advancements in supply chain management and logistics on market efficiencies.
- Economic policies and trade relations that may affect import and export of food and beverage products.
