Current status of China's dairy market and challenges to revitalize exports

Published Oct 25, 2023

Tridge summary

China's overproduction of raw milk and decreasing consumption of dairy products, along with competition from local companies, are posing challenges for South Korea's dairy exports. In order to succeed in the Chinese market, Korean dairy companies need to focus on high functionality and differentiation strategies, particularly targeting the growing health awareness trend. Developing products that reflect Chinese consumers' increasing demand for yogurt and adult powdered milk, along with a localization and product differentiation approach, can potentially create new growth opportunities for Korean dairy exports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Livestock News Reporter Min Byeong-jin] China is the largest importer of dairy products for domestic dairy companies, but overproduction of raw milk in China, a decrease in the number of infants and young children, and overheating competition with local companies are acting as obstacles to revitalizing exports. As the barriers to exporting dairy products to China are increasing, a strategy for smooth export of dairy products to China is being required in Korea. High functionality and differentiation strategies must be implemented in line with the health craze ▲China's dairy production increases, consumption decreases According to data from China's National Bureau of Statistics, milk production in the first half of this year was 17.94 million tons, an increase of 7.5% compared to the same period last year. Dairy product production from January to August was 20.9 million tons, an increase of 3.6% compared to the same period last year. Although milk production continues to ...

Source: Chuksannews