The peanut oil market has entered a stage of refined deep cultivation

From the south to the north, from Sichuan cuisine to Lu cuisine, peanut oil, which is more nutritious, tastier and less soot, has become the absolute main oil
used by Chinese consumers in cooking.
According to the "2022 China Peanut Oil Trend Insight Industry White Paper" (hereinafter referred to as the "White Paper") recently released by Jingdong Supermarket and Jingdong C2M Intelligent Manufacturing Platform, China's peanut oil market has entered a stage of refined and deep cultivation, and the per capita consumption expenditure of peanut oil has shown a trend
of increasing year by year.
In the face of the new development trend of peanut oil in China, how should brand enterprises make efforts to layout, focus on product research and development, and in which tracks should they strive for breakthroughs?

Peanut oil leads sales

Peanut oil has a long history of development in China, after experiencing rapid growth, the market began to pay attention to the quality of peanut oil, and the production and sales standards of peanut oil have also been raised to a new level
.
Edible oil consumption presents diversified characteristics, consumers are awakened to health awareness, pay more attention to nutrients and efficacy when purchasing, and the peanut oil industry has begun to enter a stage of refined, quality and
scenario-based development.

The data shows that per capita consumption expenditure has shown a trend of increasing year by year, and consumption upgrading has also made residents choose high-quality, high-end fresh ingredients in cooking ingredients
and materials.
When buying peanut oil, more than half of consumers are willing to spend more money on higher quality peanut oil, and eating "good" oil is becoming more and more normal
.
According to the White Paper, in recent years, some brands have begun to launch high oleic peanut oil, focusing on the characteristics of "high nutrient content and health", positioning the high-end market
.
Its products are selected and bred special peanut varieties, so that the content of monounsaturated fatty acids in its raw materials is greatly increased, so as to achieve the characteristics
of more nutritious and high stability of oil.

As the main position of edible oil consumption, peanut oil sales on the Jingdong platform continued to grow rapidly, and sales accounted for 32% of the total sales of Jingdong edible oil, ranking first
.
This year, JD peanut oil sales increased by 23.
2% year-on-year, which is 1.
3 times the overall growth rate of the online industry and is an important driving force
for the online market.

The White Paper provides a comprehensive analysis of peanut oil sales volume and significant sales growth:

From the perspective of price, peanut oil consumption upgrading trend is significant, and the proportion of high-priced peanut oil sales has been expanding
in recent years.
This year, the price level of 26 yuan per liter has been maintained, and the proportion of peanut oil sales with a unit price of 150-200 yuan per piece has shown an expanding trend
.
From the perspective of unit price, the sales volume of 30-35 yuan / liter price segment has continued to rise in the past three years, and the consumption structure has been upgraded significantly
.

From the perspective of production process, due to the high oil content of peanuts, peanut oil on the market is made by pressing oil that is safer and has better product flavor
.
In the pressing method, the cold-pressed method can retain nutrients more, but the oil yield is low, so the proportion of cold-pressed peanut oil is extremely low, and the peanut oil on the market is mainly
hot-pressed.
Among the main processes of each brand, the sales of peanut oil pressed by processes that are strongly related to "original ecology" such as "ancient pressing" and "soil pressing" have grown rapidly
.

From the perspective of brands, the peanut oil category has a high concentration of brands, and CR3 (the top three in business scale) brands occupy nearly 80% of the market share, and they are increasing year by year; The CR5 brand occupies more than 90% of the market share, and the position of the head brand is solid
.
Among them, Luhua ranked first in the market share, and brands such as Orchid flower grew rapidly year-on-year, and their market share was further improved
.

Five trends lead the future of the industry

Behind the rapid development and upgrading of China's peanut oil market is the huge demand
of consumer groups.
The data shows that the scale of Jingdong peanut oil users is increasing, with a growth rate of 17.
5%
in the latest year.
From a monthly perspective, promotional months such as "Double 11" and "618", as well as around the Spring Festival and Mid-Autumn Festival are the peak periods for user consumption
.

Among the consumer groups, married family users are the main consumer groups of peanut oil, the proportion of male and female users is not much different, 30-40 years old consumers account for the highest proportion, but over 30 years old, especially the post-95, generation Z people have the highest
growth rate.
Different users have high sensitivity to promotion, and the proportion of people with medium to high purchasing power continues to increase
.

From the perspective of geographical distribution, peanut oil consumers are more concentrated in economically developed provinces and first- and second-tier cities, accounting for 76%, consumers in these areas have higher living standards, pay more attention to food safety and healthy diet, this consumption concept makes peanut oil category have more room
for development.
At the same time, Guangdong, Shandong and other provinces have always been the traditional production areas of peanuts in China, so the eating habits of edible peanut oil have long been formed, and the trend of peanut oil purchase preference is obvious; Jilin, Shanghai and other places have become the fastest growing regions
.

From the perspective of consumption habits, nearly 70% of consumers cook every day, more than half of the families eat for 2-3 people, and the frequency of daily purchase of peanut oil is relatively stable
.
However, with the emergence of high-end oil, combination packaging and other forms, the unit price of users has increased year by year
.

According to Jingdong's big data, the "White Paper" has a portrait of peanut oil consumer groups, divided into 4 typical personnel, namely new kitchen whites, housekeepers, kitchen veterans, and urban exquisite silver hair
.
Among them, more than half of the 31-40-year-old housekeepers are householders, and the new kitchen whites under the age of 30 have the fastest growth rate, the average consumption amount of high-end kitchens is the highest, and the consumption of urban exquisite silver-haired people is more cautious
.

Based on a comprehensive analysis of the past and current peanut oil consumption market, the White Paper puts forward five major trends in peanut oil consumption:

Special oil The innovation of consumers' diet and life concepts has driven edible oil to expand to subdivided fields, and special oil will become a new trend;

Refined oleic acid High oleic acid components have been favored by consumers, oleic acid content has entered the stage of precision quantification, 75% oleic acid content is more popular, "health" is the driving force to attract consumers to buy;

Worry-free smoke point Consumer requirements for a "less/smoke-free" cooking environment will make high-smoke peanut oil more and more favored;

The freshness of fresh oil in season has become the most concerned factor for users to buy peanut oil, and new peanuts and fresh oil have become potential selling points, and large-scale specifications are more popular;

Convenient and casual The demand for fuel saving, quantity control, and convenient operation has promoted the design of small-size packaging and humanized oil pots to become a new trend
.

With the economic growth and demand upgrading, the people's awareness of healthy life has increased, a balanced diet has become the national dietary pursuit, and the edible oil industry has also entered a new stage
of healthy consumption.
Edible oil represented by peanut oil is developing rapidly towards refinement, quality and scene, triggering corresponding changes at the consumer end and production end, timely grasping industry changes, and accurately grasping the market pulse will become the key
to peanut oil enterprises winning the future.

(Zhou Yan comprehensive finishing)

China Food News(November 24, 2022, Version 02)

(Responsible editor: Zhou Yan).