That . This page provides - China Consumer Credit- actual values, historical data, forecast . It is estimated to reach $161.8 billion by 2023 and take a 30% share of the global market. HOME MAIL Consumer electronics are electronic . As per the analysis, in 2020, an average of one new coffee shop opened every day in China's Chengdu City. Gaming consoles. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the business-to-consumer e-commerce market in China and it is poised to grow by USD 3851.34 billion during 2020-2024, decelerating at a CAGR . Five year forecasts of market trends and market growth. A surge in energy and fresh vegetable costs sent prices higher, as did moderation in pork prices . In 2000, around 1.2 billion Chinese people did not have sufficient income to spend $11 a day in PPP terms. Chang highlighted that China's capital market. According to the Morgan Stanley report, online channel sales of beauty products grew from 3% in 2010 to 19% in 2015 in the domestic market. In fact, authors of the report expect livestreaming e-commerce to increase its share of China's retail sales to about 9% or 10% this . Direct-to-consumer Genetic Testing market report explains the definition, types, applications, major countries, and major players of the Direct-to-con . Product-based segmentation of the consumer electronics market in China. Services will overtake goods as the most important growth engine, accounting for 51% of incremental growth over the . The China E-commerce market is expected to register a CAGR of 11.3% during the period of 2022-2027. The Consumer Health in China report includes: Analysis of key supply-side and demand trends. The COVID-19 pandemic has had far-reaching implications within the pet food supply chain. The Chinese coffee market is projected to witness a CAGR of 10.42% during the forecast period 2022-2027. With a vast population, the Chinese E . Increasing health awareness and investment drives market growth. It also predicts that the country will contribute 41 percent of global luxury consumption by 2025 — a big jump up from 33 percent in 2018. Future outlook considering the impact of COVID-19. The overall Chinese coffee market has been the least affected by the COVID-19 pandemic. Katharina. In this market research report, analysts have estimated the . Apple hit a record 23% market share in China in the fourth quarter of 2021, with the iPhone maker reclaiming the number one player for the first time in six years, Counterpoint Research said. China's consumer price index rose by 2.1% in April from a year ago, the fastest since November. Chinese GDP per capita income has grown in absolute value and population growth has stabilized during 2009-2014 Of the six categories analyzed, Dried & Instant Noodles will be the largest as well as fastest growth category, registering a high CAGR of 12.5% during 2009-2019 Hypermarkets & Supermarkets is the leading distribution channel in the Chinese Pasta & Noodles market accounting for more . 12 In China, growth in the value of retail sales picked up in the first quarter of 2019 but has been on a broad downward trend . Data compiled by Jeffries showed that China's cosmetic sales growth logged a greater-than-expected slowdown in December 2021, down from 8.2 percent in November to 2.5 percent year-over-year . Forecast period. The incremental growth of $2.3 trillion alone over the next five years would be comparable to adding a consumer market 1.3 times larger than that of today's Germany or UK. It is quite unique that policies and regulations that the government promulgated play a critical role in the development of the consumer electronics market. Such market growth promises to add more momentum to already established online retail juggernauts . The country will see nearly $2 trillion in new consumption by 2021—about 27% of the total consumption growth that will occur in major economies during that time. "As the country's consumers embrace the channel and incomes rise, we expect China's share to expand further," says Robert Lin, Morgan Stanley's Greater China eCommerce and retail analyst. Consumer Electronics Market size was valued at over USD 1 trillion in 2020 and is estimated to grow at a CAGR of more than 8% from 2021 to 2027. This means relying less on state-owned and more on privately-owned companies to . In the coming decade, consumption will grow by an average 6% annually to reach RMB 56 trillion ($8.2 trillion), fuelled by a middle class that . Tablets. The China E-commerce market is expected to register a CAGR of 11.3% during the period of 2022-2027. China's rising consuming class is an engine of global growth in many discretionary categories The growth of China's middle class has been well documented, but its sheer scale continues to be relevant—and remarkable. The growth will almost double mainland China's overall share of the global industry from 11% last year to 20% in 2020, the firms said. Electronic devices are highly penetrated products among a wide range of . Nevertheless, at the current rate, U.S. Census Bureau statistics show that U.S. exports in goods will likely reach nearly $140 billion in 2021. Of the Chinese economy's 6.5% year-on-year (y/y) growth in the fourth quarter of 2020, nearly 40% came from final consumption. By 2030, China's private consumption is set to reach $12.7 trillion, about the same amount that American consumers currently spend, the report added. This pushed the total number of coffee shops in . Consumer Credit in China averaged 247822.75 CNY HML from 2010 until 2022, reaching an all time high of 546084.11 CNY HML in January of 2022 and a record low of 59105.90 CNY HML in January of 2010. The government is slowing growth to prevent bubbles. PC. (See Exhibit 1.) As a matter of course, sales volume has also increased significantly from RMB131.8 billion in 2002 to RMB339.8 billion in 2011. China's economic growth rate was 6.1% in 2019, the slowest since it hit 10.6% in 2012. The new . During the Covid-19 pandemic, total retail sales of China's toys and games market in 2020 grew 2.6% year-on-year to RMB77.97 billion. Smartphones. TV. China's overall economic growth is slowing, but the Chinese consumer economy is still massive in absolute terms and poised for increasing growth. China's consumer market recovery under the Covid-19 pandemic 02 February 2021 Todd Lee, Ph.D. China's consumer market has staged a remarkable recovery from the coronavirus downturn. Nielsen research found that the FMCG market remained strong in 2018, with an overall growth rate of 14%, a significant increase from the 9% in the same period in 2017. Add in cross-border eCommerce—online sales from outside of China—and that figure jumps to 26%. Today, the Chinese supermarket sector is quite mature and competitive. These urban consumers are now the main driver of the Chinese economy, with their spending accounting for more than 60 percent of GDP growth. Rapidly increasing internet penetration across the globe will drive the market growth. China's pharmaceutical market has been constantly growing in recent years. Market growth . The growth trend continued and the number reached 38,554 by 2011. CHINA RETAIL BANKING MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) . TRADING ECONOMICS DATA Historic volume and value sizes, company and brand market shares. Consumer Spending in China averaged 59232 CNY HML from 1952 until 2020, reaching an all time high of 387176.10 CNY HML in 2020 and a record low of 453 CNY HML in 1952. By 2030, China's private consumption is set to reach $12.7 trillion, about the same amount that American consumers currently spend, the report said. In the short term, China is eager to prop up economic growth in 2022 by increasing consumption. Report: 88% of China's Luxury Growth Driven By New Consumers. According to customs statistics, in 2020, China's textile product exports totaled USD 37.2 billion, a year-on-year decrease of 6.43%. The primary factors driving the growth of the E-commerce market in the region are smartphone-driven M-commerce culture, innovative digital payments systems, and rising live -commerce platforms, among others. China's consumer market will also be fueled by growing demand for services. In 2020, U.S. exports of goods to China were $125.0 billion, up from 107.9 billion in 2019. Ten headlines of a base-case scenario, summarized below, paint a vision for the future of consumption in China: The world's largest middle class, fuelled by income growth, will reshape consumption. The report is . TRADING ECONOMICS Understanding Chinese Consumers: Growth Engine of the World," which explains how the COVID-19 pandemic has changed Chinese consumption. 120. These US stocks have the most exposure to China's consumer market getting hit by coronavirus fears Published Mon, Jan 27 2020 10:17 AM EST Updated Mon, Jan 27 2020 4:02 PM EST Yun Li @YunLi626 FEATURED COMPANIES. Get more details on this report - Request Free Sample PDF. The "China Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer . As a matter of course, sales volume has also increased significantly from RMB131.8 billion in 2002 to RMB339.8 billion in 2011. An easing in China's inflation, from 25 percent in 1994 to less than 5 percent today, has bolstered the real purchasing power of consumers. . The consumer IAM market share is expected to increase by USD 10.05 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 16.67%. So whether measured in US$ terms or real growth, among major economies, China's consumer market is the fastest growing in the world. This page provides - China Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news. Affluent consumers will remain an elite minority, making up only 6 percent of the population in 2020. Nevertheless, value consumers, whose ranks will fall to 36 percent of urban households in 2020, from 82 percent in 2010, will still represent an enormous market for cheaper products: 116 million households, or 307 million consumers. Already, India is the world's fastest-growing mobile-phone market, adding more than ten million new subscribers a month. As a group, they are responsible for 81 percent of the sector's total sales over the past 12 . The compound annual growth rate from 2002 to 2011 was 15.82%. 1.2.1 Global Consumer Credit Market Size Growth Rate Analysis by Type 2021 VS 2027 1.3 Consumer Credit Segment by Application . The relaxation of the childbirth policy and the growth in size of the middle-class bodes well for the mainland . HONG KONG -- China is expected to overtake the U.S. to become the world's largest consumer of goods this year despite a slowdown in the economy and retail sales, according to a research report. Beer will remain the alcohol of choice for Chinese consumers, with consumption dominating the alcoholic beverage mix, but consumption decreasing as consumers trade up price points. It is also true that consumption as a share of GDP has been declining. By 2030, 60 percent of urban consumption is projected to be driven by upper- middle-income consumers (with annual household incomes ranging from RMB 160,000/US$25,200 to RMB 345,000/ US$54,400 in real 2020 terms), compared with . Detailed segmentation of international and local products. Market Research (Recommended) The report notes China's luxury market reached $123 billion (110 billion euros) in 2018, growing by six percent from the prior year. This page provides - China Consumer Credit- actual values, historical data, forecast, chart, statistics, economic calendar and news. In the wake of COVID-19, joint efforts between government and large private companies have played a leading role. Cameras. The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over. The compound annual growth rate from 2002 to 2011 was 15.82%. Growth, and Forecast to 2028. The "China Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer . Growth momentum & CAGR. Under the recently adopted 14th Five-Year Plan, couples are free to have up to three children and will receive economic and social policy support. 11% of China's population can be considered middle class 2% of earners pay income tax Working population China 770.4 Million Digital advances and innovations continue to change how and what consumers buy. With a vast population, the Chinese E . Accenture's 2018 China consumer study shows that China's vast consumer market is as confounding and fast moving as ever. China's population is predominantly young, with about 60 percent under the age of 35. Today, the Chinese supermarket sector is quite mature and competitive. Chinese banks are gearing up to seize back lost business in consumer loans from fintech players like Ant Group, emboldened by a regulatory sea change that is making them more competitive while more hurdles are created for their online rivals. Figure 3: Short- medium- and long-term impact of COVID-19 on health supplement market, China, December 2020. The household consumption rate is a great way of understanding consumer spending; in China household consumption is roughly 38 percent of the nation's GDP, which is lower than the 50 percent for the entirety of the Asia-Pacific region, 52 percent in the European Union, and finally 68 percent in the United States. The global probiotics market is projected to register a CAGR of 8.08% during the forecast period 2022-2027. "Nanosensors Market in China by End-user and Type - Forecast and Analysis 2022-2026", will witness a growth of USD 1.56 billion from 2021 to 2026, at an accelerating CAGR of 60.16%. The growth trend continued and the number reached 38,554 by 2011. GMV refers to the value of goods sold over a period of time. , Apr 19, 2022 The statistic shows the growth rate of consumer spending on fast moving consumer goods (FMCG) in China in the fourth quarter of 2021, compared to the same quarter of the previous. Exemplifying these trends, Deloitte China, the China Chamber of International Commerce (CCOIC) and AliResearch recently published the Inclusive Growth Drives Consumption Upgrading: China's Imported Goods Market Research (the 2019 Report), which provides an in-depth analysis of the latest trends in China's imported consumer goods market and . However, it is facing the deceleration of growth from 2019, which was the first year that the Chinese auto market declined. The country's remarkable economic growth continues to translate into more consumer purchasing power. China has already been the world's second largest cosmetics consumer market only behind the United States, with the retail sales rising by 4.2% year on . China's consumer price index rose by 2.1% in April from a year ago, the fastest since November. 2022-2026. Base year. India's consumer market lags behind China's by five to ten years, but similar stories of booming growth are unfolding there. Exports to North America and Oceania recorded growth rates of 2.11% and 8.35% respectively, whereas exports to Asia and South America fell sharply, -10.70% and -12.93% respectively during 2020. Owing to such factors, significant product launches are occurring to . Robust and transparent research methodology, conducted in-country. China Cosmetics Market Report, 2019-2025. Today's China consumer market is dominated by a relatively narrow middle class. Much as shoppers in developed countries around the world, Chinese consumers appreciate the convenience of . Future of Consumption in Fast-Growth Consumer Markets: China Download PDF This report argues that China will have the world's largest middle class fueled by income-growth in the next 10 years. Figure 2: Retail value sales forecast of the health supplement market (RMB bn), China, 2020-25. Consumer Credit in China averaged 247822.75 CNY HML from 2010 until 2022, reaching an all time high of 546084.11 CNY HML in January of 2022 and a record low of 59105.90 CNY HML in January of 2010. Meanwhile, in 2020, U.S. exports of services to China were $40.4 billion, down from $59.4 billion in 2019. 1 And across the globe, Chinese consumer spending represented 31 percent of household consumption growth from 2010 to 2017. A surge in energy and fresh vegetable costs sent prices higher, as did moderation in pork prices . Passenger vehicle sales fell 18 percent in India between April 11 and November 2019 compared to a year before. Product innovation, consumption upgrades, physical store growth and e-commerce development are still the main driving forces for fast consumer products to maintain their dynamic . It has fallen by some 10 percent of GDP over the past 10 years or so. Page number. POSTDATE：Feb 25, 2022; PAGES：138; REPORT CODE：GMM777084; Ask The Analyst Customization Available Request Methodology. Slower income growth and labor market strains, in turn, have slowed the pace of growth in consumer spending. Exemplifying these trends, Deloitte China, the China Chamber of International Commerce (CCOIC) and AliResearch recently published the Inclusive Growth Drives Consumption Upgrading: China's Imported Goods Market Research (the 2019 Report), which provides an in-depth analysis of the latest trends in China's imported consumer goods market and . As of 2011, China is the world's largest market for personal computers. We project Chinese beer consumption to decrease by 4% over the medium-term (2018-2022) from a projected 36.9 litres per capita in 2018 to 35.4 litres in 2022 as . Report Coverage. Industry Trends. The primary factors driving the growth of the E-commerce market in the region are smartphone-driven M-commerce culture, innovative digital payments systems, and rising live -commerce platforms, among others. However, a big reason for the decline is that GDP has been growing . This report argues that China will have the world's largest middle class fueled by income-growth in the next 10 years. Consumers in the upper-middle brackets are likely to drive the biggest share of growth in China over the next decade. Nanosensors Market in China Scope. Details. A strong consumer market allows China to rely less on exports and it is diversifying into a more market-based economy. Of growth in China over the past 12 of goods sold over a period of 2022-2027 continued! 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