The total output value of China's snack food industry is expected to reach approximately 3 trillion yuan by 2020, said the Circulation Industry Promotion Center under China's Ministry of Commerce in a report released on Monday.
According to the report, vegetables, fruits and nut processing, meat products and by-products processing as well as instant food will be the top three categories in terms of output.
It is also noted that from 2006 to 2010, the annual output value of China's snack food industry rose from hundreds of billions of yuan to trillions of yuan with compound annual growth of 17.98 percent.
China's snack food industry is growing fast now and with the acceleration of the consumption upgrade and the emerging of new retail channels, it has become the most promising and dynamic industry in China's fast moving consumer goods (FMCG) market, said the report.
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