Analysis of the Current State of China's - GoodTradeCenter
<p>From 2017 to 2019, the total production volume of the compound seasoning industry among the Top 100 enterprises was 495,000 tons, 762,000 tons, and 711,000 tons, respectively, with production growth rates of 14.89%, 14.97%, and 10.91%. Sales revenue was RMB 7.76 billion, RMB 9.86 billion, and RMB 11.28 billion, respectively, with sales revenue growth rates of 31.53%, 27.06%, and 14.40%.</p><p><br/></p><p>In 2019, the average price of compound seasoning products among the Top 100 enterprises was RMB 15,865 per ton, slightly higher than the 2017 average price following a decline in 2018. On the JD.com shopping platform, 45% of products are priced between RMB 20 and RMB 50.</p><p><br/></p><p><br/></p><p><br/></p><p><span style="color: rgb(31, 73, 125);">Export Trade Situation</span></p><p><br/></p><p>Data from January 2018 to July 2019 shows that East China accounted for 54% of compound seasoning export production volume and 50% of export revenue. The top three regions for export production volume were East China, South China, and Southwest China; the top three for export revenue were East China, South China, and Central China. Asia was the primary export destination for compound seasonings, accounting for 58% of total export volume and 67% of export revenue; the top three destinations by both export volume and export value were Asia, Africa, and the Americas.</p><p><br/></p><p>From January 2018 to July 2019, the average price of compound seasoning products among the Top 100 enterprises was approximately RMB 15,000 per ton, while the international market average price was approximately USD 2,100 per ton. The price of compound seasonings exported to international markets was slightly lower than domestic prices.</p><p><br/></p><p><br/></p><p><br/></p><p><span style="color: rgb(31, 73, 125);">The Seasoning Industry During and After the Pandemic</span></p><p><br/></p><p>In accordance with the overall requirements for coordinating pandemic prevention and control with economic and social development, the “Six Stabilities” and “Six Guarantees” represent the current overall work priorities of the Party and the state. The main work objectives are stabilizing employment, stabilizing the financial sector, stabilizing foreign trade, stabilizing foreign investment, stabilizing investment, and stabilizing expectations. The focus areas are guaranteeing employment for residents, guaranteeing basic livelihoods, guaranteeing market entities, guaranteeing food and energy security, guaranteeing the stability of industrial and supply chains, and guaranteeing the operation of grassroots institutions. The “Six Guarantees” and “Six Stabilities” serve as the policy foundation for the development of the seasoning industry.</p><p><br/></p><p><br/></p><p><br/></p><p><span style="color: rgb(31, 73, 125);">Deeper Exploration of Stay-at-Home Economy Market Demand</span></p><p><br/></p><p>As a result of the pandemic, everyone became a chef and households shared their recipes, which became one of the main ways for people to pass the time and add interest to daily life, and this will also become a lifestyle habit for some people going forward.</p><p><br/></p><p>In developing household consumption channels, compound convenient dish seasonings with accompanying recipes are becoming more popular, and livestreaming and other online experiential sales methods are gaining traction. The pandemic made online livestreaming channels hugely popular, and heads of seasoning companies stepped into livestreaming rooms one after another to promote their products alongside hosts and celebrities. For example, the head of Zhongba Soy Sauce told stories via livestream, the head of Wangzhihe appeared on the same livestream as Meng Fei, the head of cucu livestreamed the experience from farm to table, the head of Totole performed alongside Han Xue, the head of “Fanye” sold products via livestream with Viya, and the head of Longpai promoted time-honored soy sauce on the same stage as Ma Ke.</p><p><br/></p><p><br/></p><p><span style="color: rgb(31, 73, 125);">Establishing an Omnichannel System in the Seasoning Industry Becomes a Trend</span></p><p><br/></p><p>Home delivery services such as Dingdong Maicai, MissFresh, Meituan, Meicai, and Dmall are developing vigorously, and some fresh food retail companies are even rising against the trend and expanding aggressively. Community e-commerce is also rising rapidly; some community group-buying platforms have not only secured substantial financing but also achieved monthly revenue in the hundreds of millions or even billions of yuan in a short period.</p><p><span style="color: rgb(165, 165, 165);">Source: Diyi Tiaowei</span></p>