BESIDES design-driven products and food, there is also a growing market for green products in China, which Filipino entrepreneurs could tap into.
Glenn Penaranda, commercial counsellor at the Philippine Trade and Investment Center in Beijing, said that with the growing middle class in China, consumers are demanding sustainable products and are willing to spend more for these.
The trade official said this is another opportunity for Filipino exporters who want to get a good slice of the Chinese consumer market.
During the recent China International Import Expo (CIIE) roadshow in Cebu, Penaranda stressed that the country is in the best position to become one of China’s big suppliers because products have natural components or use natural processes.
Green products span a wide range of categories, from household appliances to clothing and food, which are made from recycled or recyclable materials, are energy efficient, or which play a role in protecting the environment.
“Aside from the high spending power, Chinese consumers are now also becoming health and environment conscious,” Penaranda said.
“We have good chances to penetrate this market because we have been putting a premium on the exports we sell to the world,” said Penaranda. “What is critical is they are looking for products which are authentic, and certified, especially for baby and child products.” China has had issues with the safety of the products, the reason some consumers sourced their products abroad. “That’s the mentality, they want good and safe products,” he said.
China’s appetite for anything perceived to be healthy and natural is poised to reach $70 billion by 2020. (KOC)