Fastest Growing Industries by Imports in China in 2023

1. Alternative-Fuel Car & Automobile Manufacturing in China

Growth in Imports for 2023: 36.0%

The Alternative-Fuel Car and Automobile Manufacturing industry in China has developed strongly in the past five years due to government favorable policies that have resulted in improving vehicle performances, increasing numbers of charging facilities, and changing attitudes toward environmental protection. Industry revenue is expected to increase at an annualized 48.1% over the past five years through 2022, to total $255.1 billion. This includes growth of 55.9% in the current year. Industry profit is relatively high, averaging 11.0% of industry revenue in 2022, lower than 11.4% in 2021, mainly due to increasing prices of automobile parts.

Industry exports are limited, estimated at... Learn More

2. Chinese Medicinal Herb Growing in China

Growth in Imports for 2023: 32.5%

As the production raw materials in the upstream of the industry chain, Chinese Medicinal Herb Growing in China is the basis for the development of the traditional Chinese medicine industry. China began the cultivation and planting of Chinese medicinal materials as early as the Tang Dynasty. The Qing Dynasty began large-scale cultivation of Chinese medicinal materials. However, the large-scale cultivation of many varieties began in the 1950s. At present, it has reached the stage of large-scale, intensive and industrialized cultivation base production. China is one of the largest growing and consumer countries of ginseng and pseudo-ginseng in the world. Rising... Learn More

3. Fruit and Nut Growing in China

Growth in Imports for 2023: 17.4%

China is the world's largest producer of fruits, with a total output of 309.6 million tons and a planting area of 132.7 billion square meters in 2022. Revenue for the Fruit and Nut Growing industry in China is expected to rise at an annualized 9.2% over the five years through 2022, to reach $36.7 billion. This growth includes an increase of 9.7% in 2022. Rising domestic demand and an increase in the number of fruit varieties have benefited the industry's development.

The industry has been consolidating, with the number of industry farming enterprises expected to decline at an annualized 0.7%... Learn More

4. Computer Tablet Manufacturing in China

Growth in Imports for 2023: 17.3%

Revenue for the Computer Tablet Manufacturing industry in China is expected to rise at an annualized 12.2% over the five years through 2023. In the current year, revenue is expected to grow by 14.7% to reach $124.2 billion, mainly driven by demand for more and more people who work or study at home because of epidemic prevention and control requirements. Exports are estimated to account for 31.8% of industry revenue.

The top four companies in the industry, Apple, Samsung, Lenovo and Huawei, account for an estimated 65.8% of industry revenue in 2023. Industry concentration has been increasing over the past five... Learn More

5. Frozen Food Production in China

Growth in Imports for 2023: 15.4%

The Frozen Food Production industry in China developed rapidly in the past decade. Over the five years through 2022, industry revenue is expected to increase at an annualized 7.0% to $25.4 billion, including an 8.7% increase in the current year. The growth is mainly due to higher disposable incomes, higher product prices and changing consumption trends caused by the faster pace of modern life. A wider variety of frozen foods, product quality improvements, high growth in mid-range and high-end product segments and the development of new markets has also contributed to this growth.

As competition in the frozen food market intensifies,... Learn More

6. Sports Equipment Manufacturing in China

Growth in Imports for 2023: 14.4%

The Sporting Equipment Manufacturing industry is expected to generate revenue of $39.7 billion in 2022, up 5.4% from 2021. Over the past five years, revenue has grown at an annualized rate of 3.7%. The industry is heavily influenced by foreign demand, with exports accounting for 50.4% of industry revenue in 2022.

In 2014, the second Youth Olympic Games and WTA Beijing in China contributed to a large increase in domestic demand, with total revenue growing 11.8%. In 2015, the Chengdu IVV Olympic games significantly contributed to market demand. In 2016, the Wuhan Open Tennis Tournament and Shenzhen Men's Tennis Tournament contributed... Learn More

7. Cosmetic & Personal Care Product Manufacturing in China

Growth in Imports for 2023: 14.2%

The Cosmetic and Personal Care Product Manufacturing industry has experienced strong growth over the past decade. China has become one of the largest cosmetics markets in the world and ranks first in Asia. Industry revenue is expected to grow at an annualized 9.4% over the five years through 2022, to $37.8 billion. This includes anticipated growth of 10.7% in the current year.

Industry revenue is forecast to grow at an annualized 7.2% over the five years through 2027, to total $53.5 billion. Skincare and personal care will likely continue to become more high-end. Young consumers will remain the main force in... Learn More

8. Metal Recycling in China

Growth in Imports for 2023: 13.7%

The Metal Recycling industry in China has grown over the past five years. Industry revenue is expected to rise at an annualized 4.3% over the five years through 2022, to $68.9 billion. This trend includes anticipated growth of 8.0% in the current year. Although growth in the Chinese economy has slowed, rising urbanization has raised demand for industry products and services. In particular, large downstream markets such as automobile, and equipment & machinery manufacturing sectors have continued to develop and driven industry growth over the period. Prior to the current five-year period, industry revenue growth slowed as the effects of... Learn More

9. Computer Network Equipment Manufacturing in China

Growth in Imports for 2023: 12.9%

Over the past decade, the Computer Network Equipment Manufacturing industry in China has expanded rapidly due to increasing numbers of network users across China and globally, greater demand for switches and the development of broadband services. In addition, the development of information systems in many industries and stronger export demand have also supported industry revenue. Over the five years through 2023, revenue for the industry is expected to grow at an annualized 4.9%, to total $85.8 billion. This includes a 5.7% rise in the current year.

Exports as a proportion of industry revenue increased from 57.0% in 2007 to an estimated... Learn More

10. Sheep and Cattle Farming in China

Growth in Imports for 2023: 12.6%

Revenue for the Sheep and Cattle Farming industry in China is expected to increase at an annualized 7% over the five years through 2022, to $144.1 billion. This includes an expected revenue increase of 3.8% in the current year. Domestic demand for beef and mutton in China is expected to increase at an annualized 7.1% over the five years through 2022, due to China's rising population and improved living standards. In addition, the prices of these meats have steadily increased over the past five years.

The industry's profit margins have declined over the past five years due to rising raw material... Learn More