BEIJING: Anglo-Dutch firm Unilever and Swiss group Nestle SA are increasing investments in China to enhance their share of the country’s ice-cream market, as competition hots up from a host of new and existing local players, the China Daily reported, citing industry insiders.
China’s ice-cream market, estimated by the China Association of the Bakery and Confectionery Industry to be worth 23 billion yuan (US$2.78bil) in 2002 and 40 billion yuan annually by 2006, is currently led by the two foreign companies.
