Minsheng industry just need products "taste" to come - 2020 China's composite seasoning industry development status and trend analysis

Based on the speech made by Bai Yan, Secretary General of the China Condiment Association, at the 2020 Composite Seasoning Industry Summit, the world economy has been hit hard by the outbreak of the new crown.
condiment industry, as a people's livelihood industry, although also suffered some shocks, but still maintained a steady development trend.
condiment enterprises in the epidemic prevention and resistance, but also actively adapt to market changes, explore new models of enterprise development, and gradually speed up the speed of product iteration.
2019, China's composite seasoning industry growth rate reached double digits, the development of enterprises have their own swings, new products emerge endlessly, by the industry and outside the wide attention.
1, condiment industry data analysis (i) condiment industry overall data according to enterprise survey data, currently involved in "condiments" a total of 730,000 enterprises and individual industrial and commercial households, in the industry / survival of 400,000, manufacturing more than 37,000, there are 11,200 licensed.
the first quarter of 2020, 460,000 companies in China went out of business, including 26,000 in exports.
first half of 2020, China set up about 60,000 condiments and related enterprises and individual industrial and commercial households, an increase of 29.1% year-on-year.
the top five provinces for the distribution of condiment enterprises were Shandong Province (13.89%), Henan Province (7.32%), Sichuan Province (6.49%), Guangdong Province (5.98%) and Jiangsu Province (5.60%).
According to china's top 100 brand enterprises statistics (100) show that in 2019, the total production of the top 100 enterprises was 14.289 million tons, sales revenue of 105.11 billion yuan, 2017-2019, the production and sales revenue of the top 100 enterprises increased steadily year by year, the total sales revenue of the top 100 enterprises exceeded 100 billion yuan for the first time.
9.4%, 7.5% and 10.1% respectively in 2017-2019, while sales revenue of the top 100 companies grew by 9.5%, 10.8% and 10.7% in 2017-2019, respectively.
average sales price of the top 100 enterprises is 6577 yuan / ton, 7098 yuan / ton, 7356 yuan / ton, it can be seen that the overall value of condiment products increased year by year.
In 2019, 100% of the top 100 enterprises in terms of output are growing positively, 90% of the top 10 companies in sales revenue are growing positively, 3 of the top 10 enterprises with output growth rate of more than 50% are in the top 10 enterprises with total output, and 1 of the top 10 companies with sales revenue growth is not in the top 10 enterprises with total sales revenue growth.
The steady development of sub-sectors, in addition to chicken essence (powder), flavor and flavorings industry production decline, the rest of the industry output showed an upward trend, including oil, seasoning wine, soy sauce and other sub-industries growth rate is considerable, respectively, 22.28 percent, 14.42 percent, 12.66 percent.
(2) Listed enterprise data look at the head enterprise development condiment industry listed enterprise data from revenue, research and development input, return on net assets, total equity, circulating equity, total market value, market value, price-to-book ratio, static price-earnings ratio and so on presented: condiment industry A-share listed enterprises 2019 annual report data this statistics 14 condiment industry listed enterprises (Sea Taste Industry, Meihua Bio, Anqi enzymes) Mother, Zhongju High-new, Su Yanjing Shen, Lingling, Hunan Salt Industry, Plus Food, Hengshun Vinegar Industry, Tianyu Food, Chiyu Flavor Industry, Anji Food, Jialong Shares, Sunchen Shares) 2019 annual report, total revenue of 65.108 billion yuan, an increase of 15.46 percent year-on-year, the growth rate is higher than the average growth level of the top 100 statistical enterprises.
total profit was RMB14,178 million, up 11.73% YoY, while net profit was RMB12,281 million, up 11.27% YoY.
close on the afternoon of June 30, 2020, the top three companies in total equity were Haitian Taste Industry 3.240 billion, Plum Bio 3.100 billion and Plus Food 1.152 billion.
the top three companies in total market capitalization were: Haitian Taste (403.11 billion), Zhongju Gaoxin (46.63 billion), and Angie Yeast (40.78 billion).
's market capitalisation (63.3 per cent) accounts for half of the market capitalisation of condiment-listed companies, which ranks 22nd on the list of the top 500 Chinese companies by market capitalisation in 2020 and a half.
the top three enterprises in circulation were Haitian Taste Industry 3.240 billion, Plum Bio 3.081 billion, Hengshun Vinegar Industry 1.003 billion.
the top three companies in circulation were: Haitian Taste (403.11 billion), Zhongju Gaoxin (46.63 billion), and Angie Yeast (40.78 billion).
from the market-to-market ratio, the top three are: Haitian taste industry 22.16 times, Tiantian food 17.35 times, the shares of 14.60 times.
from the static price-earnings ratio, the top three are: Tianyu food 112.12 times, Chiyu taste industry 106.06 times, 102.18 times the shares.
the top three enterprises in the return on net assets are: Haitian taste industry 33.69 percent, Sunchen shares 26.47 percent, Lingling juice 22.65 percent.
Haitian Flavor Industry (587 million), Plum Bio (435 million) and Angel Yeast (333 million) ranked in the top three in research and development investment.
the first quarter 2020 data for A-share listed companies in the condiment industry, the world's biggest winners have been e-commerce, pharmaceuticals, furniture retailing, chocolate, soy sauce and pork producers.
"in the first quarter of 2020, China's gross domestic product decreased by 6.8% YoY, while according to the first quarter financial results of listed companies, the condiment industry A-share listed companies reported the first quarter of the enterprises (14), total operating income increased by 4.70% YoY, the total profit increased by 3.30% YoY, and the total net profit increased by 2.05% YoY.
, the development of condiment listed enterprises is relatively stable.
(iii) Composite seasoning industry data analysis 2019 China's top 100 flavoring brand enterprises analysis report shows that the production of composite seasoning products accounted for more than 80% of the total number of enterprises (100).
2017-2019, the total production volume of composite seasoning industry of the top 100 enterprises was: 495,000 tons, 762,000 tons and 711,000 tons, respectively, and the total production growth rate was 14.89 percent, 14.97 percent and 10.91 percent, respectively.
sales revenue were: 7.76 billion yuan, 9.86 billion yuan and 11.28 billion yuan, respectively, with sales revenue growth rates of 31.53 percent, 27.06 percent and 14.40 percent, respectively.
2019, the average price of the top 100 enterprises composite seasoning products is 15,865 yuan / ton, on the basis of the decline in 2018, slightly higher than the average price in 2017.
the JD.com shopping platform, 45% of the product prices between 20 yuan and 50 yuan.
January 2018-July 2019, composite seasoning exports accounted for 54% of East China and 50% of simultaneous revenue in East China.
export output of The top three are East China, South China and Southwest China, and the top three export revenues are East China, South China and Central China.
major exporters of composite seasonings are Asia, accounting for 58% of total exports and 67% of export revenues, while the top three exports and exports are Asia, Africa and the Americas.
January 2018- July 2019, the average price of composite seasoning products of the top 100 enterprises is about 15,000 yuan/ton, the average price of the international market is about 2100 U.S. dollars/ton, and the price of composite seasonings exported to the international market is slightly lower than the domestic price.
, the development characteristics and trends of composite seasoning industry (1) new retail, consumption upgrading under new consumption and channel transformation of digital economy development, upgrading traditional channels for digital platform.
the development of digital economy, upgrade the traditional channel as a digital platform, promote the "dationalization" of the value chain, and promote the "dationalization" of the whole chain of channels.
of digital economy has greatly improved the use of effective resources in the consumption chain.
the use of the Internet plus, the transformation of traditional condiment industry.
internet plus, using the Internet, cloud computing, artificial intelligence, changed the traditional industry, so that the condiment industry's product thinking (product to customer) to customer thinking (demand-caused product innovation) change.
the application of the Internet clearly depicts the consumer, because of the use of customer particulate marketing analysis, so that the product more accurately reach the target audience.
brand enterprises and consumers are not only buying and selling relations, but have become symbly related.
brands need to build consumer awareness of the brand, occupy the consumer's mental space, establish emotional interaction with consumers.
brand building to win the minds of consumers as the main goal, in order to reflect the core brand competitiveness of enterprises, traffic is only the result of winning the minds of consumers.
the rich and corresponding market segmentation of the target consumer group.
the division of consumer groups, not only according to the simple division of 1234-tier cities or restaurants, households, etc., but shows the trend of more segmentation and particulateization of target consumer groups.
such as urban white-collar workers, small-town youth, the new middle class, silver-haired people and so on.
, the demand for condiments from consumer groups is reflected in daily dietary needs, lifestyle highlights, and a love of trying out a variety of cooking experiences.
, the new retail consumption upgrade presents three characteristics: market segmentation sinking, high-end demand, diversified product lines.
(2) the product development characteristics of the composite seasoning industry new products change speed up, product development concepts show a variety of characteristics.
e.g. sky-flavored crayfish seasonings, hin and sour soup sauce, good-flavored U.S. dollar salted egg yolk flavor seasonings, etc. show fast characteristics;
demand for customized products for To B channels and catering.
the traditional sense, to B channel refers to puffed food, convenient food and other food processing channels.
today, To B channels are wider, in addition to food processing, to restaurant customization, food customization, takeaway customization, restaurant empowerment and other directions.
restaurant customization, food customization, takeaway, restaurant empowerment and other services developed in full swing.
the bottom of the business logic is to serve the restaurant, such as changing the concept of development, creating customized dishes, changing the brand image, and on this basis, to provide the restaurant with customized condiments.
, condiment products have become the carrier of service embodiment, the relationship between condiment enterprises and partners has become more than just a product sales relationship, but also a flavor solution provider.
healthy China action and the condiment industry.
"Opinions on the Implementation of Healthy China Action" issued by the State Council, it is clearly stated that residents' diets should be developed in the direction of low salt, low oil and low sugar.
, more and more condiment enterprises to adapt to the needs of consumer upgrading, the introduction of low-salt condiments.
such as mushroom chef "mushroom de bay salt", star thin salt sauce fennel pods, Heinz tomato sauce and other products.
attempts to work with IP content implantation through cross-border cooperation.
IP content implantation is one of the ways to add value to the brand.
can not only increase brand loyalty, but also bring the corresponding fan's precise positioning.
such as Wang Zhi and the old name launched cartoon image Wang Xiaohe, "meal empty" IP content implanted.
cross-border cooperation makes the brand's exposure increase, the interest increases, can not only spread the brand's culture, concept, but also can better enhance the brand's value and added value.
such as Wangwang and Spicy Chili Powder, Men's Wear and Mom, Cook and several films.
(iii) The three main channels of the condiment industry of the channel system of the composite seasoning industry are food processing channels, catering channels and family channels, and the proportion of each channel has changed, but the three channel terminals remain unchanged.
, the online and offline completely channel system of the composite seasoning industry has been established.
traditional offline distribution system has also begun to transform innovation, trying to combine with online channel layout exploration.
condiment industry has achieved completely channel, full chain integration.
based on brand awareness, traffic implementation is key.
Traditional dealers are also keeping up with the changes of the times, changing business models, such as Harbin Desheng dry tune Lin Zihui and Xingsheng preferred, win the world platform cooperation, Changsha four small dragon Yangfan try community group buying model, and American food cooperation to try a new model.
cooperation model from simple sales to warehousing, distribution, selection and other channels on the sales chain of multi-link cooperation.
online channels are divided according to the consumption purchase platform, showing the development trend of content, diversification, emotional interaction and branding.
Such as the community fresh section of the prosperity of the preferred, daily excellent fresh, ten vera groups, such as e-commerce platform section of Tmall supermarket, JD.com, the United States group;
online channels according to To B and To C division, there are To B-oriented channels, such as American food, American Group Fast Donkey, Ali Retail Pass, JD.com New Road, so that brand business more efficient and convenient;
3, under the epidemic and after the epidemic era of the condiment industry in danger and machine (1) under the current situation of the condiment industry affected by the outbreak, only during the Spring Festival, the catering industry lost 500 billion.
2019 food and beverage revenue of 4.6 trillion yuan, in 2020 China's condiment catering channels accounted for 50% of the total sales channels, the condiment industry's largest terminal - the catering industry affected.
suppliers upstream of condiments face the risk of reduced orders and money recovery.
downstream dealers slow down the pace of sales.
During the outbreak, in the face of the new situation, well-known brands such as Haitian, Hengshun, Li Jinli, Kitchen Bang, Xinhe, Qiao Wives, Zhongjing, Dandan, Fushi and other condiment enterprises, have started "community partners" recruitment