Who can win in the convenience food market

In recent years, the rising home economy has made the convenience food track develop rapidly

New convenience foods hit the market

Mr.

This alternative choice of consumers is also reflected in the data

In fact, instant noodles have always been an important part of convenience foods

It is generally believed in the industry that the current decline in the traditional instant noodle industry is mainly due to the fact that new convenience foods have cut a lot of market cakes

Mr.

The data shows that online instant food can be divided into more than 10 categories, of which instant hot pot and instant noodles account for a large proportion, while the categories such as instant semi-finished dishes, instant hot pot and sausages have the highest growth rate

A Kuan Food, a new fast food brand, is already seeking an IPO

Cater to more young consumers

Guosen Securities Research Report mentioned that the scale of the domestic instant food industry is expected to reach 630 billion yuan in 2025

According to industry insiders, Chinese consumers are undergoing drastic changes

Guosen Securities mentioned in the research report that the growth rate of new Internet celebrity convenience food brands exceeded 200%, and emerging brands contributed the most to the overall growth.

Sun Wei, a brand marketing consultant at Tsinghua University, believes that the important manifestations of the current dietary consumption upgrade are that the pursuit of lifestyle is more worry-saving and time-saving, and the pursuit of quality of life is fresher, healthier and more delicious

He mentioned that the new convenience products meet the demands of more young people

The person in charge of Akuan Foods believes that the current new convenient fast food is no longer just to meet the needs of the stomach

In fact, the current new convenience foods are trying their best to meet the demands of consumers in the new era in terms of product taste and category

The relevant person in charge of Akuan Food mentioned that the company has established its own user community and is deeply cultivating user value

It should be noted that traditional instant noodle giants have also participated in the trend of new instant food
.
The self-heating convenience food under Uni-President, "Kai Xiaozao", will grow by double digits in 2021, covering self-heating small hot pot, rice and wontons,
etc.
Only from the perspective of specific revenue figures, the giants' new convenience foods have not yet been able to stand on their own
.

"Traditional industrial enterprises belong to large-scale manufacturing companies, and they win by cost efficiency
.
Small and medium-sized enterprises pay attention to flexible manufacturing and pursue profits, and they are in the follow-up type in the upgrading of food categories
.
When traditional industrial enterprises enter a certain category, they will Consider a market, and then decide whether to make a strategic choice
.
Therefore, it is understandable that many leading companies are more cautious in the intervention of new convenience foods
.
" Sun Wei said
.

Relatively speaking, the traditional instant noodle giants are more satisfied with the consumption upgrade demands of the current young people through high-end
.
Master Kong launched a series of products such as Double Enjoy Bucket, Dry Mixed Noodles, and Soup Master; Tongyi continued to be recognized by the market for its mid-to-high-priced brand Tangdaren, and successively launched high-priced instant noodles such as "Xiang Mixed One City" and "Manhan Banquet".
New products; Baixiang and Jinmailang also launched high-end series of products such as "Bone Soup Noodles" and "One Dish Noodles"
.

　　Industry insiders said that there is no category that can replace traditional instant noodles in the future, but new types of instant noodles will gradually erode their original market
.
Only by studying the new generation of traditional instant noodles and catering to young consumers, the future market space will be larger
.

　　(Jiang Zheng)

　　"China Food News" (August 26, 2022 Edition 05)

　　(Editor-in-charge: Wang Ning)