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Andrew Williams, head of the food and drink sector at commercial banking company Santander UK, said such efforts are crucial in an industry that is exposed to the effects of the UK's pending exit from the European Union.

Analysts had projected a 16.8 million pace, down from 17.2 million a year earlier.

Analysts said that as investors are more tolerant to loss-making companies, more such companies are likely to be listed, but profitability and business models are key to share price performance in the long run.

Andrew Saunders, agricultural director at Tulip, said that the company has increased sales to China by around 80 percent this year compared with 2018. Saunders told CNBC he expects this trend to continue into 2020.

Anhui, Yunnan and Jiangxi provinces were the mainstay of the domestic consumption rise, with annual growth rates of 11.1 percent between January and March this year, according to data from the National Bureau of Statistics.