Jumpstart Your Product Export Sales to China
China has proven to be an appealing and profitable market for U.S. companies for many years. In 2021, China was the 2nd and 3rd largest export market for the Northeast and Midwest regions, with $897 million and $4.9 billion worth of agricultural products exported despite challenges brought on by the Covid-19 pandemic and new import policies towards overseas exporters. The number of consumer-oriented products entering China has also been increasing. In 2021, the value of consumer-oriented products exported to China from the Midwest reached $1.7 billion, more than double from the $798 million in 2020. Similarly, Northeast exports of consumer-oriented products was up by 13% in 2021.
The China market for U.S. imports is driven by the cities of Beijing, Shanghai, Guangzhou, and Shenzhen, which are amongst the biggest cities in population and economic leaders. However, new emerging markets such as Xi’an show potential for growth as the capital of the Shaanxi Province and a population of 12 million. As one of the historical capitals of ancient China, Xi’an is now one of the most popular tourist destinations in China, and serves as a cultural, industrial, political and education metropolis of the central-northwest region.
U.S. Food & Agricultural Product Imports to China, By the Numbers
· U.S. Agricultural Products - Over US$4.9 billion (2021)
· U.S. Consumer-Oriented Products - Over US$1.7 billion (2021)
By the year 2026, Euromonitor projects that retail sales in the packaged food market in China will reach US$409.5 billion, a growth of 23.2%, or US$77 billion.