Iimedia Research | 2021-2022 China’s Impending food Industry development and benchmarking case study Report

2022-07-13 0 By

Data from iiMedia Research shows that the impending food industry will accelerate its development in 2021, with a market size of 31.8 billion yuan.In 2021, the immediate food industry began to attract the attention of capital and users, and several brands obtained financing. It is estimated that the scale of China’s immediate food market will reach 40.1 billion yuan in 2025.Temporary food extends new business forms from the initial supermarkets and convenience stores, such as the offline franchise of temporary food brands, the franchise of temporary food vertical e-commerce platform, the combination of online and offline temporary food brands, bringing possibilities for the growth of the temporary food industry.Iimedia consulting analysts believe that the imminent food industry presents a trend of diversified development, industry players continue to increase, the industry as a whole intensified competition.(IMEDIA Research | 2021-2022 China’s Imminent Food Industry Development and Benchmarking Case Study Report) The complete HD PDF version has 48 pages, you can click the report download button at the bottom of the article to download the report.The market size of China’s immediate food industry will reach 31.8 billion yuan in 2021 and 40.1 billion yuan in 2025.In 2021, the immediate food industry begins to attract the attention of capital and users, and many brands obtain financing. It is expected that the industry will maintain a growth rate of 6% and continue to grow. In 2025, the scale of China’s immediate food market will reach 40.1 billion yuan.User survey: More than 50% of China’s immediate food consumers buy again every month, and nearly 80% of them are willing to recommend to others. According to data from iiMedia Research, over 70% of China’s immediate food consumers are young people, and over 60% are middle-income people.The top three categories most commonly purchased by Chinese immediate food consumers are packaged snacks, bread and cakes, and dairy products.More than 50% of China’s immediate food consumers buy again every month, and nearly 80% of consumers are willing to recommend to others.Trend analysis: the advent of the food industry forms diversification, industry competition advent of food from the supermarket, convenience stores selling way stretches out new forms, such as offline monopolizes the advent food brands, specializing in vertical electric business platform, the advent of food online in combination with the advent of food brands, for the advent of food industry growth.In 2021, there will be a surge of newly registered enterprises in China’s immediate food market, an increase of enterprises participating in the immediate food market, and intensified competition in the industry as a whole.Definition and Standards of imminent food Imminent food is food that is about to reach the expiration date, but is still within the expiration date, and belongs to the safe food scope.In 2012, the former State Administration for Industry and Commerce issued a document explicitly requiring food operators to make conspicuous warnings to consumers about food that is about to expire and sell it separately, such as “temporary food counters” in supermarkets.Beijing Industrial and Commercial Bureau subsequently announced to the outside world “food shelf life critical” six levels of standards.The development history of China’s temporary food Industry is the leisure food industry due to excess production capacity, resulting in inventory overstocking.With the emergence of more and more temporary food, the industry has developed into discount stores of temporary food from the initial store sales. In recent years, the industry has begun to attract capital attention. The industry will have further development in the future.China’s temporary food Track has “good Sale”, “Prosperity Market”, “Little Elephant Life”, “Dumping sale”, “Good Food Period” and other brands.In 2021, the imminent food industry will attract capital attention, and brands such as “good sale” and “Prosperous Market” in the industry will obtain financing.In 2020, the total output value of China’s snack industry is more than 3 trillion yuan, and the market size of the impending food industry is about 30 billion yuan, even if calculated by 1% of the inventory precipitation.The annual compound growth rate of the industry is in line with the growth of the snack industry. It is expected to maintain a growth rate of 6%. In 2025, the scale of China’s immediate food market will reach 40.1 billion yuan.Data on the number of registered enterprises in China’s imminent food industry shows that by 2021, the total number of registered enterprises in China’s imminent food industry has reached 94, intensifying market competition.In 2021, the number of enterprises registered in the impending food industry surged, far more than the number of newly registered enterprises in previous years.Driving factors of China’s imminent food industry: Economic data show that China’s online retail sales continue to expand, reaching 13,088.4 billion yuan in 2021, accounting for nearly 30% of the total retail sales of consumer goods.Iimedia analysts believe that offline stores have been affected by the epidemic, and online consumption has become the choice of most consumers. The online retail market continues to expand, becoming the mainstream sales channel of immediate food, providing a good consumption foundation for the online market consumption of immediate food.Driving forces of China’s immediate food industry: Social related data show that the top three factors for the purchase of China’s immediate food are big discounts (57.3%), high original price of food (50.2%), and sharp price reduction of hard-demand products (46.7%).Iimedia consulting analysts believe that the young consumer group has become the main consumer group of immediate food, and the concept of low price, large discount, affordable infiltrate into the young consumer group, the immediate food market demand further expanded, promoting the development of the market.With the development of science and technology, Internet of Things technology will write shelf life information into radio frequency stickers, realizing automatic picking and delivery of temporary food, improving the safety and delivery efficiency of temporary food.With the global Internet of Things revenue reaching 520 billion US dollars in 2021, food safety standards will be further improved in the near future.Research on China’s impending food Consumers 2021: Main categories of purchase Data shows that among the immediate food purchased by consumers, packaged snacks are the most popular category (40.9%), followed by bread and cakes (33.6%) and dairy products (31.5%).Imedia consulting analysts believe that the imminent food category is diversified, covering daily leisure snacks, rigid food, etc., with a broad market prospect.Data from the 2021 China Imminent Food Consumer Research: Main Factors of Concern show that 67.8% of Chinese consumers are concerned about food safety, and more than 50% of consumers are concerned about whether the labeling information is complete.Imedia analysts believe that food safety is an important consideration for consumers. Without food safety protection, consumers’ interests and physical and mental health will be affected.2021 China’s immediate food Consumer Research: Willingness survey data show that 69.5% of China’s immediate food consumers are willing to continue to buy in the future;Nearly 80% of consumers of imminent food said they would like to recommend it to others.Iimedia analysts believe that Chinese consumers of instant food have a strong desire to consume instant food, and consumers are attracted by the characteristics of high cost performance and are willing to recommend such cost-effective products to others.Data show that offline purchasing channels of China’s immediate food consumers are mainly from large supermarkets (60.3%) and discount stores (52.7%).The main online purchase channels are large comprehensive e-commerce platforms (57.6%), etc.Imedia consulting analysts believe that the imminent food sales channels are gradually complete, customers to buy convenient and fast, the industry will have a good prospect in the future.The immediate food industry has attracted the attention of capital and users, and a large number of new enterprises have flooded into the market, intensifying the competition in the industry.Data show that as of 2021, China’s impending food-related enterprises, the total number of registrations reached 94, 2021 impending food industry ushered in the rapid growth stage, the number of newly registered enterprises reached 68, far more than the number of newly registered enterprises in previous years.With the development of the temporary food industry, food safety, excessive consumption, lack of supervision and other problems are gradually exposed, there are unqualified packaging of temporary food, express delivery of temporary food has expired and other phenomena, which bring risks to the development of the industry.China’s current policy on temporary food mainly standardizates the identification of conditions, quality and safety of temporary food. With the further development of the industry, relevant laws and regulations need to be issued to regulate the development of the industry.The diversified formats of the immediate food industry have deepened the user’s understanding of the immediate food market, which was originally sold by supermarkets and convenience stores, and expanded into new formats to promote the sustainable growth of the industry.The new business forms are mainly divided into three categories: first, good sale and Little Elephant Life are the leading brands, which mainly focus on offline imminent food sales;Second, the vertical e-commerce platform focusing on selling immediate products, such as good food, dump sale, etc.Third, brands that combine online and offline to sell imminent food, such as Dahuicang.The emergence of new business forms enriched the sales channels of the immediate food industry and made it possible for the growth of the immediate food industry.Part of the data and pictures in this article are extracted from the “IiMedia Consulting | 2021-2022 Development and Benchmark Case Study Report of China’s Imminent Food Industry” released by IIMedia Research Institute. For the full REPORT and more relevant industry data, please visit the link below:https://report.iimedia.cn/repo13-0/43119.html?acPlatCode=tt&acFrom=bg43119