Consumption upgrade boosts snack food upgrade

Leisure food mainly includes biscuits, roasted nuts, puffed food, candy, baked food and leisure braised products, etc.

Model change promotes consumption power

There are more and more snack food shops in the streets and alleys of the city in recent years.

With the accelerated upgrading of the consumption structure and the further development of the commercial retail model, the main consumers of snack food have evolved from children and teenagers to young people, which has driven the changes in the consumption scenarios and models of the snack industry, and has also driven the further improvement of consumption power.

Sun Lei, chief researcher of Shenzhen Hantang Capital, said that the continuous growth of the entire snack food industry is due to consumption upgrades, and the expansion of the spending power of the new generation of young consumers drives the continuous growth of the entire snack food industry

According to data from Frost & Sullivan, an international consulting agency, the scale of China's snack food industry in 2020 is close to 1.

The huge market size not only attracts new entrants, but also leads to more intense market competition among leading companies

Industry insiders predict that in the next 5-10 years, the main business income of snack food will reach more than one-fifth of the total income of the food industry, which means that there will be a potential market demand of trillions of yuan, which in turn has triggered the attempts of these snack food companies to try.

Both online and offline

China's snack food market has formed a scale of one trillion yuan.

Relevant data shows that the top three positions of the three squirrels, Baicaowei, and BESTORE in the snack food e-commerce business have initially formed.

　　In the first half of this year, Three Squirrels opened 38 new food and beverage stores, with a total of 139 stores, covering 22 provinces (including municipalities directly under the Central Government) across the country.

　　BESTORE's offline channels, as of the end of 2020, had 750 offline direct-operated stores and 1,951 franchised stores, with a total of 2,701

　　The way of competition in China's casual snack industry is also changing.

　　The report "Research on the Trend of Snack Food Consumption in the New Consumption Era" pointed out that under the background of rapid iteration of new retail formats and new models, snack food companies will no longer be limited to a single retail channel, and the coordinated development of online and offline is an inevitable trend

　　Regarding the future development trend of the snack food industry, the report stated that in the future, the industry will be integrated, industry centralized, promotion diversification, category diversification, product upgrading, demand health, channel coordination, crowd precision, and strict supervision

　　(Comprehensive arrangement by Gao Jiaodi)

      "China Food News" (December 07, 2021 Edition 07)

(Editor-in-charge: Gao Jiaodi)