China breakfast cereal deep-dive part one – how the market has slowly opened up [Yahoo! Finance]
The J.M. Smucker Company (SJM)
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Source: Yahoo! Finance
China has been a key target for multinational food companies for decades but success has varied by category. Western-style breakfast cereal has not made the advances seen in other parts of the industry but, as Wang Fangqing reports, that is gradually changing. The Chinese market for breakfast foods has long been dominated by traditional meals. The morning meal occasion in the country remains a stronghold for, in the north, foods like buns and noodles and, in the south, congee and dumplings. Despite recent rapid growth, breakfast cereal remains a small part of the overall breakfast market. According to the consulting firm Mintel, Chinese consumers are expected to spend CNY1.9trn (US$274.74bn) on breakfast products in 2021, up 46% from CNY1.3trn in 2015. For comparison, data from Euromonitor shows China's market for breakfast cereals reached CNY68.2bn last year, up 21% from CNY56.36bn in 2015. Packaged breakfast cereals have been widely available in urban China since the 1990s
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SJM
Earnings
- 8/28/24 - Beat
SJM
Sec Filings
- 11/8/24 - Form SC
- 10/22/24 - Form SC
- 10/3/24 - Form 4
- SJM's page on the SEC website