Japanese food group Meiji Holdings has opened a new ice cream factory in China’s southern city of Guangzhou.
Meiji took its ice cream business into China in 1994 when it opened a production and sales venture in Guangzhou, the third-largest city in the country. The company claims it has carved out a reputation in China for “high quality” ice cream.
Go deeper with GlobalData
Products will go on sale in southern China later this month but Meiji said it anticipates targeting provinces in the east and north of the county. It is targeting net sales of CNY500m (US$80.5m) by 2020.
The plant will manufacture products that seek to meet local demand while including flavours or ingredients seen in Japan. An example, Meiji said, is an ice cream bar that combines condensed milk – which the company described as a “favourite” among local consumers – with Japanese flavours like sweet red bean and green tea.
“Urbanisation and increases in individual income in recent years have led to annual double-digit growth for China’s ice cream market and consumer demand for high-quality, premium products is stronger than ever,” Meiji said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
