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Since 2014, the market scale of China's chicken essence industry has continued to grow, and it is still in a period of rapid development with both volume and price rising
Local brands grow
Can it break the oligopoly pattern?
Chicken essence is a compound seasoning, which uses monosodium glutamate and edible salt as the main raw materials, and adds chicken or chicken bones and other ingredients, which has the umami and aroma of chicken
The data shows that since 2014, the market size of chicken essence in China has continued to grow.
At present, the development of China's chicken essence industry is relatively mature, with a high degree of concentration, and the competition pattern of the consumer market is basically stable.
"As far as chicken essence products are concerned, the current market is basically occupied by foreign-funded enterprises.
It is reported that Baiweijia was founded in 1994.
Warming of the external environment
Category expansion and market expansion worth "expectation"?
Analyzing the company's annual report data of Baiweijia and Jialong in recent years, it can be seen that in 2021, the company's revenue and net profit will show a recovery trend, and will exceed the level before the epidemic
According to the survey data of the Big Data Information Center of China Condiment Association, the chicken essence industry has been relatively flat for three consecutive years, but the whole industry has ushered in a large year-on-year growth in 2021, and 90% of the top 10 companies have achieved positive growth.
According to data released by the National Bureau of Statistics, in 2021, the domestic catering revenue was 4,689.
Another market growth point of the chicken essence industry comes from the wider application of condiments in the food industry
The Huajing Industry Research Institute believes that chicken essence is still in a period of rapid development with both volume and price rising
Industry insiders said that in the first half of this year, due to the impact of the epidemic, the operating performance of chicken essence production enterprises fluctuated, and both revenue and net profit declined to varying degrees
(Comprehensive arrangement by Gao Jiaodi)
"China Food News" (version 04 on June 30, 2022)
(Editor-in-charge: Gao Jiaodi)
