An analysis on market potential of Chinese dairy products under the background of RCEP
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Jinjing Tan, Yicheng Han, Xiaoyi Liu, Yilin Xian, Jiayin Chen, Mengya Li
Constrained by the impact of the novel coronavirus, the rising price of domestic raw milk year by year, and the slowdown in the growth of the domestic dairy industry, China's dairy industry has ushered in great challenges. The Regional Comprehensive Economic Partnership (RCEP) Agreement came into force one year ago and brings opportunities for Chinese dairy enterprises to expand overseas markets. This case study summarizes the global market for dairy products from the aspects of world production, consumption, and imports by comparing the relevant dairy products at the 5th China International Import EXPO (CIIE). However, China's dairy enterprises have to find new ways to overcome the difficulties such as low brand recognition, single export product structure, and weak multinational operation capabilities. This paper proposes countermeasures, including the establishment of cross-border e-commerce platforms in the RECP region such as Association of Southeast Asian Nations (ASEAN), focusing on dairy product brand building, enriching online and offline promotion of products through live streaming and other means, and improving the transnational operation capabilities of enterprises.
RCEP, dairy product, ASEAN