French food company finds healthy opportunities at CIIE

China's dual-circulation growth paradigm and consumption upgrading will allow global companies to further capitalize on the good market opportunities and create new space for win-win cooperation, said a business executive from Savencia Group, a French food manufacturer and a third-time exhibitor at the China International Import Expo.

Under the dual-circulation model, the domestic market is the mainstay while the domestic and foreign markets reinforce each other.

"Chinese consumers have already shifted their spending focus to healthier and more personalized cuisine," said Denis Vergneau, general manager of Sinodis, a business unit of Viroflay, which is part of France-headquartered Savencia.

"For instance, the flexitarian championed in recent years by environmentalists and animal rights activists motivates us to source premium vegan ingredients from all over the world," he said, adding that another example is people's pursuit of a healthier diet, which pushes the company to improve formulas and introduce low-sugar options, so that consumers could enjoy food without worrying about the high sugar content of conventional sweets.

The executive said a close tie with consumers allows his company to quickly respond to their changing needs and introduce products that are more aligned with current culinary preferences. The CIIE is an ideal platform to bring the company's products closer to consumers.

The CIIE presents unmissable opportunities for multinationals to connect to the Chinese market, where they are more likely to grow profits, expand reputation and embrace robust operations. Savencia is honored to introduce its new products, including cream and vegan chocolate, for the first time in the country, he added.

Sinodis serves as a vital channel that connects Savencia to the Chinese market. It now has a portfolio of 30 brands from over 10 countries and regions, supplying star-rated hotels, restaurants, and pastry, bakery and beverage chains with over 1,000 products covering dairy, pastry, beverages, gourmet and grocery.

Apart from expecting a double-digit growth in sales revenue in China this year, the French company also plans to supply more high-end cream and cheese products to milk tea businesses across China and further expand its sales network in the country's lower-tier cities in the coming years.

The COVID-19 pandemic and the stay-at-home economy have pushed the sales of foodstuffs, dairy products and snacks, as well as a rapidly growing embrace of e-commerce in China, said Guo Xin, a marketing professor at Beijing Technology and Business University.

She said that true winners are those who are able to tap into new consumer demand and innovate to create new growth levers.