Many foreign brands enter the growing Chinese baby product manufacturing industry
Baby Product Manufacturing in China - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 11:56:03
The Baby Product Manufacturing industry in China produces a range of products, such as baby food, clothing, toys and skincare products. In the past five years, industry revenue has been increasing strongly at an annualized rate of 19.2% to $31.8 billion in 2013.
China´s family-planning policy makes the only child of the family more precious, which encourages parents to spend as much as they can on baby rearing. In addition, China´s growing economy has stimulated demand for baby products. In particular, higher living standards have created a stable foundation for medium and high-end baby products.
Many foreign brands have entered the growing Chinese market and established branches and distribution networks. A majority of people, especially those in first- and second-tier cities, prefer foreign brands as they are regarded as safer and of higher quality. This consumer shift accelerated after 2007, when more than 10 domestic brands of milk powder were found to contain the contaminant melamine. Over the past five years, imports have been growing at an annualized rate of 16.4%. In 2013, imports account for 4.8% of domestic demand.
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