In an exclusive interview with Foodinc, Zhang Xiqiang, CEO of Nestlé Greater China, shared insights into the company’s strategic plans for growth and innovation in the Chinese market.

Zhang reiterated Nestlé Greater China’s goal of achieving 100 billion RMB in annual revenue by 2030, emphasizing that the target remains unchanged.

In the first half of 2024, Nestlé Greater China’s seasoning business saw stable growth, with strong contributions from both home and out-of-home channels as well as e-commerce. Zhang pointed out that per capita consumption of seasonings in China is about half of what it is in developed countries like the United States, indicating significant room for growth for Nestlé’s four key seasoning brands—Taitai Le, Haoji, Maggi, and Chao Tianxiang.

Zhang also noted that while there is still demand for premium products, achieving this "premiumization" must be tied to the unique value a product provides, rather than relying solely on price hikes or premium pricing strategies. Nestlé is driving growth through deeper channel penetration and accelerated international expansion, particularly with the Taitai Le brand, aiming for the presence of Taitai Le wherever there are Chinese communities. In the seasoning market, Zhang did not rule out the possibility of acquisitions to increase market share.

For 2024, Nestlé has set the goal of being a “Year of Excellent Execution,” emphasizing the importance of execution and focusing on unlocking potential in business details. The company is leveraging more digital technologies—such as photography, geolocation, and AI verification—to assist in executing these details.

Zhang also highlighted that Nestlé has strong R&D capabilities that support the development of high-value solutions. He pointed out that categories with high growth potential in the future include coffee and pet food, both of which are expected to see significant expansion.

Furthermore, Nestlé’s generative AI, NesGPT, has been made available to all employees in the Greater China region, enabling staff to enhance creativity and execution in their daily work.

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