Everbright Holdings invests in a small white heart, Qinglan Fund invests in Xuan Ma egg yolk crisp, gathers investment durian for a moment, Tiantu invests in Master Bao… .. The domestic celebrity bakery net celebrity brands have frequently gained capital in recent years. At the same time, Wufangzhai teamed up with Marvel, Disney, Shen Dacheng and Anjia, and the traditional Chinese pastries were put on new coats that were popular online. With the help of Taobao live broadcast, vibrato, station B and other new traffic, they recaptured the changeable hearts of the waves. .
History is always surprisingly similar, but with a change of coat, who can be the next Yamazaki Bread? Dali Food? Peach and plum bread? Lu Dong, an industry analyst at 30,000 Capital, will develop the industry map of short-term security baking for everyone from the short-term security baking industry, large foreign companies, and domestic mature companies, and finally explore new entrepreneurial opportunities for short-term security baking in China, hoping to inspire everyone .
This article comes from the WeChat public account:Sanwan Food Research Society ( ID: sanwanshipin) , author: Lu Dong, head from FIG: visual China
I. Overview of short-term bakery industry trends
1. The global baking industry is growing steadily, starting late in China and developing fast, with huge room for industry development
Baked food is based on flour, yeast, salt, granulated sugar and water, with the right amount of fat, Dairy products, eggs, additives, etc., a convenient food baked through a series of complex techniques, mainly divided into four categories of bread, pastries, cakes and mixed desserts.
The global scale of baked goods has grown steadily. In Europe and the United States, baked goods have been used as breakfast and staple food for local residents. Europe and the United States is the world’s largest baking market. The development time of the baking industry in the Asia-Pacific region is relatively short, and due to different living habits and dietary methods, baked goods have not yet been eaten as a dinner.
In recent years, consumers’ awareness of baked goods has continued to increase. The rapid growth of the Chinese baking market has now become the world’s second largest market after the United States. However, compared with the per capita consumption of baked goods, China still has a large gap with other countries such as Britain, the United States, and Japan, and the industry has huge room for development.
2. The market size of the baking industry in 2023 is expected to reach 346.9 billion yuan
In my country, there are various types of baked products, which can be divided into four categories: bread, cake, mixed dessert and pastry. The overall baked goods market has grown steadily. According to Euromonitor statistics, the baked goods market in 2020 is expected to reach 256.7 billion yuan, with a CAGR of about 10.9%.
From the perspective of sub-categories, the growth rate of the industry is mainly caused by the growth of the three sub-categories of pastry, bread and cake.
3. Baking pastry has become the first zero food category with large inventory, rapid growth and low market concentration
In the casual snacks trillion market, the baking category has become the largest category, but the bakery and pastry industry has a low concentration of only 20% of CR5. The two major baking giants, Tao Li and Dali, have annual sales of more than 3 billion yuan, totaling Only 8% of the industry.
4. Local brands have occupied most of the market share
Baking pastries have gradually emerged in the domestic market in the form of food supplements since the 1980s. Foreign brands have entered and rapidly opened the Chinese market with their brand and capital advantages:
In 1995, the Belgian Artal Group invested in a factory in Shanghai to produce and sell Mancoton brand bread;
In 1997, Korea’s baked snack leader Haoliyou first set up a factory in China for production and sales;
In 2003, Singapore’s bakery brand Bahasa New Language opened its first store in China;
In 2004, the Japanese baking leader Yamazaki Bread set up the Shanghai branch;
In 2007, the international bakery snack leader Bimberg set up a subsidiary in Beijing to start the regional distribution in China.
The entry of foreign brands has awakened the domestic baking market. A number of domestic manufacturers have risen rapidly, and with the advantage of localization, they have become the dominant force in the market. According to Euromonitor data, in 2018, Manhattan, Hollywood, Bakery, YamazakiThe operating income of bread and baked goods in China is about 800 million, 2 billion, 1.2 billion, 120 million and 500 million respectively. The local brands Peach and Bread, Dali Foods’ revenue from baked goods in 2018 has reached 4.8 billion and 6.25 billion yuan respectively, and their market share far exceeds foreign brands.
5. Short-term bakery has become a popular track in the field of baking, and major companies have entered the competition
The operating income of baked goods is divided according to the product shelf life, and the baked food can be divided into short shelf life, medium shelf life and long shelf life. Short-term preservation cakes are more in line with the trend of healthy food consumption upgrades. At present, bakery food brands with high sales of Tmall have launched short-term shelf-life baked foods.
Second, the development path of foreign large baking companies
Japan has a similar diet structure to China and is the most mature baking market in the Asia-Pacific region. The development of the Japanese bread marketThe rapid development of China’s baking industry has great reference value.
The Japanese baking industry has experienced the initial stage of development (mid-16th century ~ 1950s), the golden period of development (1960s~1980s), stable development period (1980s to date), now Japan has developed into an important world Bread making base.
The CR5 of the Japanese baking industry will reach 43.0% in 2019. The three major companies are Yamazaki, Shikishima and Fuji Bread. The core products of the three companies are all bread. Due to Japanese eating habits, the products are toast bread and sweet bread Mainly. The business models of the three companies are also very similar. They all use the parallel sales method of wholesale and retail. “Central factory + wholesale” accounts for a relatively large amount and has a relatively small amount of in-store baking business.
Analysis of the core competitiveness of Yamazaki Bread:
➀ Channel deep cultivation + Central factory expansion layout
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