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Albany, NY -- (SBWIRE) -- 06/10/2014 -- Consumer Goods: Research Report On Condiment Industry In China, 2014-2018
Condiments in the report include monosodium glutamate, essence of chicken, soy sauce, vinegar, tomato paste and compound condiments.
The market size of condiments exceeded CNY 200 billion in China in 2013. The annual growth rate remains above 15% in recent years.
Soy sauce is the most important condiment in China with the production volume of 7.58 million tons in 2013. There are hundreds of soy sauce manufacturers in China. Chinese soy sauce industry is in the phase of bipolar differentiation. Major enterprises, such as Haitian and Lee Kum Kee, occupy most of domestic market shares while other enterprises become regional brands or merge with large enterprises.
The production volume of vinegar products exhibits upward trend in China. After years of rapid development, fruit vinegar and healthy vinegar occupy certain market shares in China.
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In China, monosodium glutamate industry is highly homogeneous. Manufacturers are faced with pollution treatment with various requirements for environment protection from local governments. Moreover, Chinese consumers gradually transfer from monosodium glutamate to chicken essence and chicken powder as health concern increases. Therefore, Chinese monosodium glutamate industry is faced with severe problems. The chicken essence industry is mostly seized by leading enterprises in China. Totole is very popular in East China and North China while Knorr seizes the market in South China. Enterprises in the industry have huge potential for growth due to the large market space for chicken essence products.
The market of paste and sauce products grows rapidly with uneven development in China. Most fastest-growing enterprises are located in South China and East China. Sauce products with large sales volumes are chili sauce, meat paste, tomato paste and bean paste.
6Downstream of condiment industry includes catering industry, household consumption and food processing industry. As market competition becomes intense, some foreign-funded enterprises develop food solutions (professional solutions in catering industry) to update the marketing mode. Unlike the sales of traditional condiments, enterprises send out professional consultants to design menus and develop cuisines for restaurants. They instruct chefs in standardized condiments and skills to improve the efficiency. The sales of the products increase as the enterprises maintain close relations with the chefs and restaurants.
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Reasons that foreign-funded enterprises focus on food solutions in China are as follows:
1. Food solutions are the strength of foreign-funded enterprises as the business is already fully developed overseas. With the rapid development of condiment market in China, it is difficult for foreign-funded enterprises to defeat famous domestic enterprises in fields of traditional Chinese condiments, such as soy sauce and vinegar, due to the strong regional features. Therefore, foreign-funded enterprises avoid direct competition with domestic enterprises through differentiation in catering industry.
2. Catering industry possesses large demand for condiments. Chain enterprises can rapidly increase the sales value through close cooperation with catering industry.
The demand for condiments keeps increasing as economy develops in China. Meanwhile, the product structure is constantly upgraded. The market concentration rate will exhibit upward trend as condiment industry integrates in China in the coming years. Enterprises will enjoy advantages in market competition with effective food solutions.
Readers can obtain the following information or more through this report:
- Government Policies of China Condiment Industry
- Development Status of Sub-industries of Condiments in China
- Sales Channels of Condiments in China
- Analysis of Major Enterprises and the Operation Status in China Condiment Market
- Competition in China Condiment Market
- Import and Export Status of Condiments in China
- Distribution of Foreign-funded Enterprises in China Condiment Market
- Development Trend of China Condiment Industry
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The following enterprises and people are recommended to purchase this report:
- Manufacturers of Condiments
- Raw Material Suppliers of Condiments
- Catering Enterprises
- Food Manufacturers
- Investors/Research Institutes Concerned about China Condiment Industry
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