China Food

Last year, it sold more than 25 billion yuan, and Master Kang’s instant noodles still need to make new “hot money”!

An epidemic at the beginning of the year made convenience food “hot” and promoted many enterprises to achieve growth against the trend.

 

According to the data of the 20th China convenient food conference, the consumption of convenience food increased by 1.5 times from January to may in 2020, and the growth rate in February was as high as 21.3 times. Among them, the market sales of instant noodles, one of the representative categories, increased by 11.5% in the first half of the year, and the overall sales volume increased by 5.6% year-on-year.

 

However, since the beginning of the post epidemic period, consumption activities returned to normal rhythm, and the growth rate of instant noodles began to slow down gradually. At the above meeting, Meng Suhe, President of the Chinese society of food science and technology, pointed out that the growth rate of instant noodles in 2020 will drop from 23% in the first quarter to 13% in April and 8% in May.

In other words, if you want to retain and capture more consumers in the instant noodle industry with many players and maintain the ideal growth rate, brands need to pay more attention.

 

One of the directions that can be referred to is “freshness”. “Consumers will expect convenience foods to become more and more like fresh, ready-made foods,” said Jiang Annie, a research analyst at the consulting firm Mintel in March The report “eight innovation trends of China’s convenient food industry in 2019-2020” points out that innovative products in the new era are more and more close to “the taste of family kitchen”.

 

Take Master Kang as an example, in May this year, the company launched its first high-end cooked noodles series, Master Kang hand rolling noodles. Snack generation noticed that the series and instant noodles were grouped under the Master Kang instant noodles plate. However, different from the innovation of the main flavor or cooking methods of instant noodles in the past, Master Kang’s hand rolling series emphasizes that the texture of noodles is “like fresh rolling”.

 

The head of Master Kang’s hand-made noodles disclosed in the above meeting that in order to solve the gap between instant noodles and traditional hand-made noodles in taste, the R & D team communicated with a number of folk masters, and finally adopted the technology of “three kneading and seven rolling” to make the noodles durable and have a sense of texture.

 

Compared with most of the cooked noodles on the market, Master Kang’s hand rolling noodles retain the conditioning and soup packs of instant noodles, and also introduce popular flavors such as braised beef. According to the person in charge, the design aims to “create a new benchmark for cooked noodles that takes into account delicious and nutritious ingredients.”.

 

In fact, extra cooking noodles is a new growth idea of instant noodle giant Master Kang in the post epidemic period: to tap domestic consumption demand.

 

Looking through its 2020 half year report, the snack generation noticed that Master Kang’s hand rolling noodles are aimed at the home consumption scene. Kaidu, a consulting firm, has suggested that even after the outbreak, some consumers will continue to cook at home for safety reasons. Therefore, the food brand can actively combine the brand with the family dining scene to occupy the consumers’ mind.

It is worth noting that xiaoshidai learned from Master Kang today that the company hopes to cultivate the high-end hand rolling noodle series into another new “hot money” after braised beef noodles and other products. In the future, it will help hand rolling noodles quickly open the market through online and offline publicity resources.

 

In the online promotion, Master Kang has cooperated with Luo Yonghao and Xie Na to carry the goods live. In Luo Yonghao’s studio, Master Kang sold 220000 packets of noodles in 10 minutes. In last night’s live studio of Xie Na, Master Kang’s hand-made noodles were still out of stock after three replenishments, with sales exceeding 130000 packs.

As far as Master Kang is concerned, if it can make hand rolling noodles into a new “hot money” through a series of market investment, it is not only expected to find a new growth point for its instant noodle business, but also improve its product structure and profit margin with the expansion of the proportion of high-end products.

According to the company’s annual report in 2019, its annual instant noodle revenue increased by 5.79% year-on-year to RMB 25.3 billion. Master Kang said in the 2020 semi annual report that in the future, it will continue to adhere to the concept of “persisting in focusing on the mass consumer market and steadily expanding the high-end market”, focus on consolidating the mass consumer market in the short term, accelerate product innovation in the medium and long term, and lay out high-end and potential markets.

At the above-mentioned convenience food conference, Li TangBing, deputy director of the Department of consumer goods industry of the Ministry of industry and information technology, said that for a long time, China’s convenience food industry has been focusing on domestic consumer demand and deeply cultivating the domestic market. It is a typical industry driven by domestic demand, and also one of the key industries in the next step of domestic circular development.

 

Under the promotion of Master Kang and other enterprises, the convenience food industry is also expected to release greater potential.

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