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1、 IBISWorld and ACMR China Industry Report 06 May 2010 Bakery Products and Bread Manufacturing in China: 1411 DISCLAIMER This product has been supplied by IBISWorld Inc. (IBISWorld) solely for use by its authorized licenses strictly in accordance with their license agreements with IBISWorld. IBISWorl
2、d and All China Marketing Research Co., Ltd. (ACMR) makes no representation to any person with regard to the completeness or accuracy of the data or information contained herein, and it accepts no responsibility and disclaims all liability (save for liability which cannot be lawfully disclaimed) for
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5、ed to IBISWorld Inc. Contents Industry Definition 3 ACTIVITIES (PRODUCTS AND SERVICES)3 SIMILAR INDUSTRIES3 DEMAND (2) Henan is close to many main consumption areas; and, (3) the provinces transportation costs are relatively low. Shandong province is the second-largest manufacturing base for the ind
6、ustry, accounting for 13.8% of industry revenue in 2009. The province also has the largest number of enterprises within this industry. Shanghai municipality is the third-largest manufacturing base for the industry, accounting for 12.5% of industry revenue in 2009. A large number of foreign-funded en
7、terprises are located in the city, which dominate the high-end market with advantages in product quality and diversification. Some local enterprises in Shanghai have become well-known brands, such as Christine and Guan Sheng Yuan. Beijing municipality and Guangdong province are important product bas
8、es in these two regions. Bakeries in Beijing are well-known for the wide variety of products they offer, while Cantonese bakeries are well-known for freshness and delicacy. West China contributed small shares to industry revenue. This is mainly due to the relatively low economic and consumption leve
9、ls within these regions. MARKET CHARACTERISTICS Bakery Products and Bread Manufacturing in China 06 May 2010 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 11 Market Characteristics MARKET SIZE The Bakery Products and Bread Manufacturing Industry in China developed rapidly in
10、 the current performance period from 2006 to 2010. Industry revenue is expected to increase at an annualized growth rate of 26.8%, totaling $6.10 billion in 2010 (constant 2010 US dollars). This high growth was primarily due to substantially increasing domestic demand, which showed an annualized gro
11、wth rate of 28.9% in the period from 2006 to 2010. In 2010, there are expected to be about 670 enterprises operating in this industry, employing over 94,200 workers with a payroll of $436.7 million. Despite the current weaker economic conditions in China, demand for bread and bakery products will re
12、main steady and substantial as such products have become daily necessities for many people, particularly students and workers, especially in urban areas. The high level of foreign investment and large numbers of foreign-funded enterprises has resulted in technological improvements within the industr
13、y. This factor, along with the strengthening of government food regulations in the industry, has helped to increase consumer confidence in these products in China. The overall demand for higher quality products will increase as consumers become more aware of the quality and nutritious ingredients of
14、 bread and bakery products. The industry has a low concentration level, with the top four major players jointly accounting for a forecast 17% of total industry revenue in 2010. Most firms in the industry are small to medium-sized with low market shares. In addition, entry barriers to this industry a
15、re low, especially in local and low-end markets. LINKAGES Demand Linkages 6322 - Sugar, Chocolate and Sugar Confectionery Wholesalers in China This industry wholesales bread and bakery products. 6512 - Supermarkets in China This industry distributes large volumes of bakery products and bread. 6519 -
16、 Other Miscellaneous Goods Retailers in China This industry is also an important distribution channel for bakery products and bread, especially in street markets, communities and rural areas. 6522 - Bakery Product Retailers in China This industry retails bakery and bread products. Supply Linkages 01
17、11 - Cereal Grain Growing in China This industry provides wheat, rice and other raw materials for manufacture of bread and bakery products. 0113 - Oilseeds and Oleaginous Fruit and Nut Growing in China This industry supplies edible oilseeds, fruits and nuts used as raw materials for manufacture of b
18、read and bakery MARKET CHARACTERISTICS Bakery Products and Bread Manufacturing in China 06 May 2010 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 12 products. 0310 - Sheep and Cattle Farming in China This industry supplies bakery and bread manufacturers with fresh milk, crea
19、m, cheese and some other milk products. 2319 - Lithographic Printing in China This industry provides packaging design and printing services for all types of products, including bread and bakery products. DEMAND DETERMINANTS Increasing household disposable income levels in China in recent years have
20、increased consumer purchasing power of daily consumables, including food, such as bakery products and bread. Rising health and safety concerns also affect demand for these products. Chinese people are becoming more aware of their own health and food safety, and will favor products with health and sa
21、fety assurances. Product innovation and diversification have increased in recent years with new players entering the market. This supply of new products has stimulated demand. In recent years, with more people studying or working longer hours, there has been a shift away from traditional cooking and
22、 eating out. These are being replaced with a more Western style of diet, consisting of more bakery products and bread. This trend is most prevalent with younger generations, and is expected to continue to develop in future years. DOMESTIC AND INTERNATIONAL MARKETS Domestic and International Markets
23、Exports The level of trade export is low The trend of trade export is decreasing Domestic and International Markets Imports The level of trade import is low The trend of trade import is increasing Domestic and International Markets Analysis Exports In 2010, exports are forecast to increase by 4.6% t
24、o $188.2 million (constant 2010 dollars). The share of exports in industry revenue decreased from 10.9% in 2006 to a forecast 3.1% in 2010. The relatively low export share is attributed to the comparatively low manufacturing capabilities of domestic enterprises, the perishable nature of products in
25、the industry, substantially growing domestic demand, as well as perceived health concerns. In 2009, exports from the Bakery Products and Bread Manufacturing Industry in China totaled $180 million, decreasing by 7.8% from 2008. Additionally, the “melamine incident“ and other food safety incidents in
26、2008 damaged the image of Chinese-made food items (see the Current Performance section). Imports MARKET CHARACTERISTICS Bakery Products and Bread Manufacturing in China 06 May 2010 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 13 Competing imports are forecast to total $74.3
27、 million in 2010, up 8.6% from 2009. The share of imports in total domestic demand is low at just over 1% in 2010, decreasing from 1.8% in 2006. Imported bakery and bread items were mainly high-end products that are not produced by domestic enterprises. However, this share is expected to continue de
28、creasing in the future with the enhancement of domestic enterprises manufacturing capabilities. Hong Kong increased its share in total imports from 40.7% in 2005 to 50.9% in 2009. BASIS OF COMPETITION Competition in this industry is high Competition in this industry is increasing Internal Competitio
29、n Brand image is playing an increasingly important role between firms competing in this industry. Brand competition is becoming more evident in the medium and high-end markets in urban regions. As consumers become more aware of food safety issues, products of well-known brands offering quality assur
30、ances are becoming popular. Although there is little differentiation among products in this industry currently, product diversification will help manufacturers to attract more consumers and increase their market share. Price is another major source of competition between firms, especially in the cou
31、nties and rural regions with lower income levels. Quality, flavor and packaging are not of great importance to consumers in these regions and consumption of bread and bakery products without packaging is more usual. Demand is mainly satisfied by local manufacturers. Production scale is also importan
32、t for manufacturers. Most participants in this industry are small firms with low output levels. Small firms generally compete in local markets. Their average production costs are higher due to a lack of economies of scale, resulting in lower profit margins. Having an efficient distribution network i
33、s important for large manufacturers within this industry. As products of this industry generally have a short shelf life, bread and bakery products must be quickly distributed to end retailers after production. An extensive distribution network is especially important for large-scale players. Due to
34、 the comparatively low entry barriers to this industry, many small players, including individual store-owners, have entered the industry. This intensifies the competition level in this industry, especially in local markets. External Competition The major external competition for the bakeries and bre
35、ad manufacturers in China comes from substitute products. Many Chinese consumers prefer savory foods, making instant noodles one of the most popular convenience foods. MARKET CHARACTERISTICS Bakery Products and Bread Manufacturing in China 06 May 2010 Copyright 2010, IBISWorld Inc., All China Market
36、ing Research Co., Ltd. 14 LIFE CYCLE Life Cycle Stage The life cycle stage is growth Life Cycle Reasons Value added increased at a higher rate than Chinas GDP during the past five years There continues to be a large and growing market for the industrys products Technology changes will continue to be
37、 adopted by more manufacturers Life Cycle Analysis Industry value added increased at an annualized rate of 26.4% in the five years to 2010. This is significantly higher than the average GDP growth rate in China of about 9.5% during the same period. In recent years, higher household disposable income
38、 levels have increased consumer purchasing power, leading to higher demand and expectations in prepared food. The urbanization process, rapid pace of work and study, as well as the eating habits of young generations, all drive demand for bread and bakery products. The diversification of products wit
39、hin this industry continues to meet peoples demand for different flavors and products. Most enterprises in this industry are small and medium in size, with relatively low technology levels. Advanced manufacturing technologies are mainly utilized by large-scale bakeries. As more enterprises develop i
40、n size, technology changes are expected to be adopted by more manufacturers, which will improve the overall quality of the industrys products. The government has been strengthening its food safety regulations in this industry. The increasing regulations will standardize products in this industry, wh
41、ich will benefit the development of the industry in long-term. INDUSTRY CONDITIONS Bakery Products and Bread Manufacturing in China 06 May 2010 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 15 Industry Conditions BARRIERS TO ENTRY Barriers to entry in this industry are low T
42、hese barriers are increasing Start-up costs for new, small entrants are usually low due to the low cost of acquiring basic manufacturing equipment. This industry has a low requirement for technology, especially for domestic enterprises. Production depends on the skills of the work force, whose wage
43、level is generally low in China. There is little product differentiation in this industry. Larger enterprises tend to diversity their products with new flavors or styles. Smaller enterprises generally produce traditional bread and bakery products. Most enterprises in this industry are small to mediu
44、m enterprises. They generally operate on a small-scale in local markets and present the main competition for new entrants. The barriers to entry level of this industry is expected to increase in the future as the government is strengthening regulations in this industry, especially in relation to foo
45、d safety. In addition, the intensified competition between high-end existing enterprises increases pricing pressures on new entrants. TAXATION City Maintenance and Construction Tax The city maintenance and construction tax is levied at different rates based on the different locations of enterprises.
46、 An enterprise in an urban area pays the tax at 7% of its real value added tax amount. If it is located in a rural area, the rate is only 1%. Enterprises in counties and prefectures pay the tax at 5%. Educational Surcharge The educational surcharge applies to all domestic enterprises at a rate of 3%
47、 of their real value added tax amount. Foreign-funded enterprises are exempt from paying the educational surcharge. Value Added Tax In China, the universal value added tax (VAT) rate for goods and services is 17%. Corporate Income Tax The Corporate Income Tax Law of the Peoples Republic of China was
48、 implemented from January 1, 2008. It unifies the previously different income tax policies for foreign and domestic enterprises. Within the new system, income taxes will be levied on both domestic and foreign enterprises at a rate of 25%, with favorable tax rates applicable to high-technology enterp
49、rises (15%) and small-size domestic enterprises (20%). INDUSTRY CONDITIONS Bakery Products and Bread Manufacturing in China 06 May 2010 Copyright 2010, IBISWorld Inc., All China Marketing Research Co., Ltd. 16 INDUSTRY ASSISTANCE The level of Industry Assistance is low The trend of Industry Assistance is increasing Key Tariffs Goods Low Rate* High Rate* Crispbread 20.0 80.0 Rusk 20.0 80.0 Toasted bread 20.0 80.0 *Percentage of value unless otherwise specified Import tariff rates for bread and bakery products vary from 20% to about 80%. The general import duty is 80%