FMCG benefits from consumption upgrade in China

The ongoing consumption upgrade, which is most pronounced in high-end categories, is having a knock-on effect on certain segments of the fast-moving consumer goods or FMCG market.

Sales of enhanced versions of products like instant noodles, beer, and processed mustard tuber are up, market insiders said.

Last month, the first-half financial results of Masterkong Holding Ltd, an instant noodles brand, showed sales revenues surged 8.5 percent year-on-year to 31 billion yuan ($4.55 billion), yielding a profit of 1.31 billion yuan, up nearly 87 percent.