Market overview of leisure food industry
China’s leisure food market has a large scale, and the average annual compound growth rate has reached double digits. The average annual compound growth rate is 11.96% from 2015 to 2019. In 2020, China’s leisure food market is expected to reach 1298.4 billion yuan, but the growth rate of the overall market scale is slowing down, and the market saturation is gradually increasing.
In terms of categories, the traditional Tangqiao honey (candy, chocolate, preserves) category accounted for the largest market share in leisure food, accounting for 31.95%, followed by baked cakes, puffed food, leisure marinated products, nuts fried goods, biscuits and others. Among them, the average annual compound growth rate of leisure marinated category was the fastest, with an average annual compound growth rate of 18.8% from 2015 to 2019, There is still great market potential.
From the perspective of users, with the improvement of per capita income and the continuous upgrading of consumption, users’ consumption demand is more and more diversified. The trend of leisure snack consumption is from “can eat enough” to “can eat well”. The consumption demand is from ladder to flat, from four aspects of function supply, sensory stimulation, time and space emotion, identity and belonging, Four characteristics of user consumption are summarized: quality consumption, sensory consumption, emotional consumption and symbol consumption. With the younger structure and diversified demand of leisure snack consumers, the categories of leisure food will be more abundant, and there is still much room for improvement in the future.
From the perspective of consumption trend, food brands are enjoying new channel dividends and opening up new consumer markets.
In terms of channels, most of the leisure food is sealed and packaged, which is easy to store and transport, and has a high degree of adaptability with e-commerce channels. In 2015-19, the penetration rate of leisure food e-commerce increased from 3% to 12%. In the post epidemic era, the development of online channels is intensified, and in the long run, the penetration rate of e-commerce still has great room to improve.
With the help of channel dividend, new food brands have opened up a blue ocean track from the traditional food industry giants’ share through the strong content marketing of social platform, and continue to increase the number of users, forming a new consumer market with great potential.
Of course, it also requires the brand to further subdivide the target customer groups to meet the personalized needs of different users; And actively broaden the consumption scene, pay more attention to brand marketing to develop new growth points. For example, the development of products with rich taste but convenient and fast for the “family members” at home can meet the demand of dining at home; For example, for white-collar workers who are also engaged in fitness and weight loss, nut meal replacement powder will be introduced to meet their demand for high protein and low calorie intake.
Source: Wenlin industry research
Venue: Ningbo International Convention and Exhibition Center (No. 181, convention and Exhibition Road, Yinzhou District, Ningbo City, Zhejiang Province)
Exhibition hall: hall 1, 2, 3, 4, 5, 6, 7 and 8
Estimated exhibition scale: 79000 square meters, about 1050 exhibitors
Estimated audience: 92000
Exhibit type: candy, snack, cake, imported food
Exhibition contact: 15810224093 Li Jun
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Research on leisure food brand industry in 2021