Breaking News on Supplements, Health & Nutrition - Europe US edition | APAC edition

Read more breaking news



Chinese seeking premium and healthier products, says CFC CEO

By Ankush Chibber , 21-Sep-2011
Last updated on 21-Sep-2011 at 10:49 GMT2011-09-21T10:49:03Z

Chinese seeking premium and healthier products, says CFC CEO

The Chinese population’s growing affluence is offering opportunities for premium and healthier products, says the CEO of the China Food Company (CFC) Plc, as the company posts better than expected revenues.

The Singapore-based Chinese food maker of cooking and dipping sauces has reported an increased demand from the China market.

According to a presentation detailing the financial results of the company as of September 2011, the company saw its revenue in the first half of 2011 rise by 9.6% to US$29.5m (GBP18.8m) from US$27.0m (GBP17.2m) in the first half of last year.

Profit before tax and set-up costs surged 21% to US$4.2m (GBP2.7m) from US$3.5m (GBP2.2m) the year before, the company said in the presentation, thanks to a growth in its existing condiments business.

The higher revenue and profits were on the back of its main brand, HaoTai Taisoya sauce, which grew 23% year-on-year in the first half, the presentation said.

Chinese middle class

Raphael Tham, CEO of China Food Company, said that the increased sales of has a lot to do with the company's increased capacity to meet the increasing demand from middle class China, referring to its new manufacturing facility in Shandong.

“We previously had capacity constraints but with our new factory up and running, we can meet the demand,” she said.

Tham pointed out that there are many opportunities for a company with their kind of product range, given that the Chinese population, due to growing affluence, is seeking more quality, premium and healthier products.

“This is largely due to the growing middle class and the food safety concerns over the last 2-3 years. Our focus will still be on condiments related products and the immediate focus is the roll-out of our premium range soy sauce products,” she said.

Marketing beef-up

CFC recently launched a new premium grade soya sauce, Xaka, in August, with distribution planned throughout Shandong and across a further 16 cities in Northern China.

“We plan to beef up our marketing as we seek to expand our regional footprint and increase sales, now that we have increased production capacity. Once our branding and regional footprint is established, we will look towards broadening our product range further,” she said.

Live Supplier Webinars

Polyphenols tipped to become the way to innovate in Sports Nutrition
Orally bioavailable standardized botanical derivatives in sport nutrition: special focus on recovery in post-intense physical activities
Collagen in motion: move freely and keep your injuries in check
Leading manufacturer of gelatine and collagen peptides
Life’s too short for slow proteins. Whey proteins hydrolysates: Fast delivery for enhanced performance
Arla Foods Ingredients
What it Takes to Compete and Win in Today’s Sports Nutrition Market
Sports Nutrition Snapshot: Key regional drivers and delivery format innovations
William Reed Business Media
Gutsy performance: How can microbiome modulation help athletes and weekend warriors
William Reed Business Media
Pushing the boundaries: Where’s the line between ‘cutting edge nutrition’ and doping
William Reed Business Media
Alpha & Omega in Sports Nutrition – Using Omega 3’s and A-GPC to improve performance and recovery.
KD Pharma

On demand Supplier Webinars

High-amylose maize starch may reduce the risk of type 2 diabetes: what does this qualified health claim mean?
Balancing Innovation and Risk in Sports Nutrition Ingredients
Explaining bio-hacking: is there a marketing opportunity for food companies?
William Reed Business Media
Personalized Nutrition – how an industry can take part in shaping the future of Nutrition
BASF Nutrition & Health
Find out Nutritional and ingredient lifecycle solutions and strategies!
Is the time rIpe for I-nutrition?
William Reed Business Media
The Advantage of Outsourcing Fermentation-based Manufacturing Processes
Evonik Health Care
All supplier webinars