China's Competitive Advantage in the Global Prepared Food Market: Ready-to-Eat Dishes
According to data from the Guangdong branch of the General Administration of Customs, China exported RMB 31.7 billion worth of ready-to-eat (RTE) dishes through Guangdong ports in 2023, accounting for 18.3% of the national total.
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At its core, the global expansion of Chinese RTE dishes represents the internationalization of Chinese cuisine. As more Chinese food service brands go global and the influence of Chinese culture grows, Chinese cuisine is expected to gain wider acceptance overseas.
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According to data from Hongcan Big Data, there are currently around 700,000 Chinese restaurants abroad, with a combined market size of nearly RMB 3 trillion.
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Several key trends are fueling the growth of China’s RTE exports:
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1. Rising global demand for convenient and healthy food options, which RTE products are well-positioned to meet in fast-paced lifestyles;
2. China's RTE dishes offer rich flavors and a wide variety, making them attractive to international consumers;
3. As Chinese food culture spreads, more people are developing an interest in traditional Chinese cuisine, laying a strong foundation for the international market;
4. A large overseas Chinese population provides a stable and loyal customer base for these products.
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In my view, there is another major opportunity: In many countries, local Chinese food often tastes inauthentic, lacks quality, and is overpriced. Standardized Chinese RTE products could offer better taste and value, creating a competitive edge.
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Several Chinese RTE brands have already made notable progress. Anjoy Foods reported overseas revenue of RMB 128 million in 2023. Hengxing Group's seafood segment generated sales of nearly RMB 2.8 billion in 2022, with about 30% coming from overseas markets.
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According to reports from Frozen Food Express, Synear Foods earned over RMB 400 million from international markets in 2023. Guolian Aquatic Products achieved RTE sales of USD 10.21 million in RCEP markets from January to August 2022, up 12.7% year-on-year.