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San Francisco, CA (PRWEB) January 12, 2013
The Cooking Oil Production industry in China expanded rapidly in recent years, mainly due to increased industry capacity and high levels of domestic demand. IBISWorld expects industry revenue to total $142.5 billion in 2012. This represents an annualized five-year growth rate of 21.4%. With the country's change in economic focus from exports to domestic markets, and the increase of living standards, the cooking oil consumption in China is expected to maintain a rigid growth trend.
Increased merger activity has increased industry concentration levels. In 2012, the top four enterprises account for about 33.0% of total industry revenue in 2012. Large local and foreign firms, such as Yihai Kerry, COFCO, and Cargill, are expected to continue to expand their production capacity either by consolidating and acquiring other significant or poorly managed enterprises, or by expanding their own current capacity.
In the five years through 2017, IBISWorld anticipates that the main drivers of growth within the Cooking Oil Production industry in China will be steadily growing demand from catering industries and the food sector, increases in consumption of first-grade and second-grade cooking oil in rural areas, the further popularization of small-package cooking oil, rising global demand of biological diesel oil, and competitive pricing levels.