Hot pot base material enters the "best track" of the compound condiment market, and the industry scale may increase to 50 billion yuan in 2025

China is the world's largest condiment consumer, and the development of single condiments is close to maturity, but compound condiments have great market opportunities

Data show that the market size of hot pot base ingredients last year reached about 25 billion yuan, and the industry growth rate is expected to remain at about 15% in the future.

Catering chain rate increases

Consumer demand for hot pot at home grows

In the early days of hot pot restaurants, the ingredients were artificially fried, and the control of seasoning and process was done by the chef

At the end of 2019, there were more than 580,000 hotpot stores nationwide, while in 2018, the number was less than 400,000

Last year, the demand for sales of hot pot condiments on the consumer side continued to rise, thanks to the rise of the "home hot pot" consumer market in the post-epidemic era, which further accelerated the market demand for hot pot condiments on the consumer side

In addition, the use of hot pot base is very extensive, not only limited to the hot pot scene, but also extended to the production of many dishes such as Mala Fragrant Pot and Mala Tang

Fierce competition between North and South

Multi-party entry forces the industry to develop

Although the number of new entrants in China's hot pot base industry has increased, it is still in the growth stage.

The hot pot seasoning brands on the market are roughly divided into two types: southern (Sichuan flavor) and northern (clear soup), Sichuan-flavored hot pot seasoning brands are mostly concentrated in Chengdu and Chongqing

Judging from the current market conditions, there are very few brands with good performance and market popularity in the national market.

　　In recent years, the hot pot seasoning track has become very popular, and a large number of companies have begun to pour into the hot pot seasoning track, including many giants

　　Not only that, hot pot catering brands have also joined the camp, such as Xiabuxiabu, Mala Space, Xiaolongkan, Peijie, Shu Daxia, etc.

　　The homogenization of traditional enterprises is serious

　　The market is still expanding

　　The hot pot base material track is hot, and many outsiders have begun to focus on this "fat meat"

　　For example, Xiaolongkan, Peijie, Little Sheep, Shu Daxia, Xiabuxiabu and other powerful hot pot brands have successively launched hot pot base brands

　　At present, traditional hot pot base companies, whether it is products, flavors, packaging or business models, all present the common problem of homogeneity

　　The consumption upgrade of hot pot catering naturally also promotes the product upgrade of hot pot base materials

　　In the past, traditional hot pot base brands relied on distributors and offline channels.

　　Although the competition in the hot pot seasoning industry is gradually intensifying, it is far from being a "Red Sea Market", the market is still in a state of expansion, the comprehensive strength of leading brands needs to be improved, and market opportunities still exist
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The hot pot base market is in the process of gradually maturing, and there are some opportunities for market segments, as well as the continuous rise of light oil hot pot bases, nutritious hot pot bases and other flavors, which are just adaptations to changes in consumer demand
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　　(Comprehensive arrangement by Zhou Yan)

       "China Food News" (April 1, 2021 Edition 04)

(Editor-in-charge: Zhou Yan)