Can cross-border compound condiments from basic condiments bear fruit?

In recent years, the market prospect of compound condiments has been improving.

Compound condiments usher in new opportunities for development

Since 2020, with the rise of the "home economy", industrial upgrading, and the development of the takeaway and catering industry, compound condiments have come to the fore

In the first half of 2021, the performance of major condiment companies appeared to be somewhat gloomy, and their profitability was challenged

Faced with the problem of increasing revenue, major basic condiment manufacturers have successively launched compound condiment products, deploying hot pot seasonings, Chinese compound condiments and other popular categories

According to industry insiders, the compound seasoning market has a lot of room for development, especially hot pot base seasoning and Chinese compound seasoning.

Judging from the data after the company entered the market, in the first half of 2021, Yihai International’s hot pot base revenue was 1.

Industry insiders believe that the current compound condiment market is in the early stage of development, and the industry is growing rapidly, but the competitive landscape is extremely fragmented, the penetration rate is still low, and there is no leader yet

Cross-border corporate strategy is not yet clear

Different from the mandatory consumption of single condiments, compound condiments are optional consumption

The market boundary is the market scope.

"Simply put, changes in market boundaries can also be understood as changing the track.

However, in the hot pot seasoning market, new entrants in the production of basic condiments may face considerable challenges

　　At the same time, from the perspective of the production process and production equipment of the existing business, the basic condiment manufacturers are also facing challenges, because most of the production processes and equipment of enterprises with sauce and vinegar as their core business are brewing, while the compound condiment business is It belongs to the nature of preparation, and the two are very different

　　In addition, there are differences in brand resource cognition between condiment companies expanding new business and old business

　　From the current point of view, basic condiment manufacturers have not yet formed an advantage in the compound condiment market

　　Zhang Ji said that there is nothing wrong with companies from cross-border production of basic condiments to the compound condiment market, but it has not yet shown a clear strategy, and is more of a tactical behavior

　　(Comprehensive arrangement by Gao Jiaodi)

　"China Food News" (04 edition on January 6, 2022)

　　(Editor-in-charge: Gao Jiaodi)