China was adjudged the most attractive export market for food and beverage companies, according to a study published
Thursday. The United States dropped to second place, while Germany held steady as the most attractive European country in third place, said IESE Business School Munich in a study.
The annual report of IESE Food and Beverage Attractiveness Index 2016 measures countries' attractiveness and potential according to six indicators including food and beverage import volumes, population, and legal framework and security. China's rise to the top of the ranking is attributed to its population and growing middle class, which grew over the period from 2014 to 2015 by 11 percent, said the study.
At the same time, public spending per capita in China rose by 26 percent during the investigation period. Due to the continuing urbanization and economic expansion of the country, it is expected that China will rank among world's top three importers of food in the long term.
The United States remains with a volume of 120.56 billion U.S. dollars in 2015 as one of the major global importers. Germany maintains its position as an influential food importer with 211 million U.S. dollars volume annually, thanks to its strong middle class and a stable, transparent legal framework.
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