According to the "2018-2023 China Food Industry Market Prospects and Investment Opportunities Research Report"released by the China Institute of Commerce Industry, China's food industry can be divided into three subsectors, namely agricultural food processing, food manufacturing, and wine, beverage and refined tea manufacturing. The revenue of the agricultural and food processing market increased from 5.9 trillion yuan in 2013 to 7.4 trillion yuan in 2017, with a compound annual growth rate of 5.8%.The food manufacturing industry has grown rapidly in China, registering a compound annual growth rate of 10.7 percent between 2013 and 2017.
Food and beverage revenue grew at a compound annual growth rate of 7.5% from 2013 to 2017 and is expected to grow at a compound annual growth rate of 7.7% from 2017 onwards.
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