2025  In, the scale of domestic quick-frozen food market will reach 330 billion yuan

In 2013, the scale of China's quick-frozen food market was about 82.8 billion yuan, increased to 140 billion yuan in 2019, and CAGR reached 9.14% in seven years. It is expected to enter a period of rapid development in the next five years, maintaining a growth rate of more than 13%. According to the prediction of China Commercial Industry Research Institute, by 2025   In, the scale of domestic quick-frozen food market will reach 330 billion yuan.

 

At present, China's quick-frozen food market is mainly composed of quick-frozen noodles and rice products, quick-frozen hot pot materials and other quick-frozen products, accounting for 52.4%, 33.3% and 14.3% respectively. At present, quick-frozen noodles and rice products account for half of the country, and the proportion of quick-frozen hot pot materials and other products is gradually expanding.

 

01

The quick-frozen hot pot material industry has sustained high growth with the development of Pan hot pot industry

At present, the market concentration of quick-frozen hot pot ingredients is still low, CR3 is 13.9%, Cr5 is 17.8%, and 82.2% of the market space is divided by a large number of scattered small enterprises. The leading Anji food only accounts for 9.2%, and the well-known quick-frozen products enterprises such as Haixin food, haibawang and Huifa account for 2.5%, 2.2% and 2.2% respectively. There is still a big gap compared with the leading enterprises, Market space needs to be further integrated.

 

Quick frozen hot pot ingredients are mainly divided into quick-frozen surimi products and quick-frozen meat products. They taste fresh and salty, which is in line with the choices of contemporary young people for diverse and stimulating taste. According to the questionnaire report of Liding industry research, in terms of taste preference, salty flavor is the most favored by consumers, accounting for about 23.3% of the survey sample; Secondly, about 17.2% of consumers prefer spicy tastes, which account for 40.5% of the survey samples, and have the largest consumer population in China.

Quick frozen meat products and quick frozen surimi products have the characteristics of salty, fresh and fragrant in raw materials. After a large number of seasoning processing, the flavor is more prominent, which further stimulates the taste buds of consumers and is loved by consumers. Therefore, at both ends of Tob and TOC business, quick-frozen hot pot materials have broad market prospects, and they are bound to enjoy expansion dividends in downstream product innovation and competition.

 

02

The quick-frozen noodle rice industry has a high concentration, and diversification and differentiation have become a new growth point

The quick-frozen noodle rice market is different from the quick-frozen hot pot material market. There is a catering culture with strong communication power represented by hot pot, which drives the market to further prosper. The quick-frozen noodle rice market has developed to a relatively mature stage. The market scale has increased from 54.2 billion yuan in 2015 to 67.7 billion yuan in 2019, but the growth rate has gradually decreased.

Quick frozen noodles and rice products, such as dumplings, dumplings and quick-frozen pasta, have always been one of the staple foods of Chinese residents, and have become saturated in the process of consumption upgrading. From a market perspective, the retail market has formed a tripartite market pattern of Sanquan food, missing food and Wanchai wharf, CR3   Has reached 64%. Sanquan food, the industry leader, has occupied 28% of the market scale. Enterprises in the industry mainly focus on stock competition and hope to continuously expand their own market share   B   And further expand the space.

 

With the continuous expansion of the catering industry, residents have more choices to eat out in their daily life to improve their life. The demand scale of quick-frozen noodles and rice products in the catering market is also expanding. On the one hand, catering enterprises need to meet the needs of different consumers for staple food, but making from scratch will inevitably reduce the meal delivery rate of the back kitchen. Therefore, quick-frozen noodles and rice products that are more convenient and easier to process are the best choice for catering enterprises.

On the other hand, the manufacturers of quick-frozen noodles and rice products also quickly capture the needs of consumers, actively innovate in the concept of product health, scene exploration and modeling design, and carry out differentiated management in the process of constantly exploring emerging growth points, so as to gradually achieve that no one has me and no one has me.

 

03

The frozen dishes industry can be expected in the future, and catering standardization opens up room for growth

With the further acceleration of the pace of residents' daily life, the emerging market of quick-frozen dishes came into being. The emergence of new consumption scenes such as new year's Eve dinner, night market snacks and instant enjoyment of specialties has gradually widened the development path of quick-frozen dishes. With the slogan of "convenient and fast, you can quickly prepare fancy food at home and share it with your family", in early 2020, when the epidemic broke out, the quick-frozen products related to new year's Eve dinner increased by 24.5% year-on-year, which was favored by many consumers.

At the same time, the rise in the average salary of employees in catering enterprises has become one of the major sources of expenditure for the back kitchen of catering enterprises. In 2010, the average wage of employees in private units in accommodation and catering cities and towns was 17531 yuan, and in 2018 it was 39632 yuan, CAGR   Up to 10.7%, higher than the inflation level of 7% in recent ten years. The real wages of employees in private units in accommodation and catering cities and towns have increased rapidly. The use of semi-finished quick-frozen dishes can further reduce the employment of back kitchen and improve the operating efficiency of back kitchen. As an emerging blue ocean, traditional frozen food enterprises have entered the bureau one after another to build a central kitchen and enter the b-end business.

 

04

Longtou Anji: combination of two swords   Three way parallel

The company's main business income and net profit showed a rapid growth trend. From 2011 to 2020, the company's main business income increased from 1.224 billion yuan to 6.965 billion yuan   Billion yuan, nine-year CAGR   21.31%; Net profit attributable to parent company   RMB 77 million increased to 604 million   Billion yuan, nine-year CAGR   25.79%. two thousand and twenty-one   In the first quarter of 2014, the company realized main business income of 18.84%   Billion yuan, a year-on-year increase of 47.35%, realizing a net profit attributable to the parent company of 174 million yuan   Billion yuan, a year-on-year increase of 97.83%, and the growth rate of net profit far exceeded the growth rate of the company's main business income.

 

The income of various businesses has increased steadily, with the addition of dish products, the combination of two swords and three ways. Before 2017, the company's main business was mainly divided into two parts: hot pot products and quick-frozen noodles and rice products, with revenue accounting for more than 90%. In 2017, the company newly produced conditioned aquatic products, but the operating revenue was very small, which did not affect the proportion of the overall main business revenue. In 2018, the company cut into the field of dish products and greatly improved the order of magnitude in the short term. Although it has not reached the height of the first two main businesses, it has also changed the state driven by the company's two major businesses, forming a trend of "two swords combined (Mr. Anji + frozen products) and three-way parallel (hot pot products, flour and rice products and dish products)".

 

In 2020, the revenue of hot pot products will account for about 66.45%, the revenue of quick-frozen flour products will account for about 23.88%, and the revenue of dish products will account for about 9.67%; The gross profit margin of hot pot products is about 25.44%, that of quick-frozen flour products is about 27.80%, and that of dish products is about 21.97%.