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The future plan: China is on the way to develop more innovative products

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China’s Industry Ministry suggested a plan for CG companies that will help them produce more innovative products, like a robot vacuum cleaner and smart rice cooker. The guidelines presented by The Ministry of Industry and Information Technology (MIIT) are designed for the light industry, which includes organizations producing consumer goods items and tools. The category (light industry) encountered supply shortages for mid-to-high-end items in the past years and lacks global famous brands, which is why MIIT is now paying more attention to it. By 2025, it is anticipated that Chinese brands’ value will upgrade and the country will secure a prominent position in the global manufacturing value chain.

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Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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