China's semi-finished food market booming
Consumer Staples
Predicted to become a trillion-yuan market in the next 3-5 years - the sector is in an early growth stage similar to the US (1960/70s) and Japan (1980/90s). The growth rate of the Business-end market is 20%+. Horizon Insights’ industry surveys show that 90%+ of restaurants, hotels, group meal manufacturers have started using semi-finished food attracted by the high degree of product standardisation and cost advantages. The Consumer-end market is growing much faster - online pre-made dishes have maintained YoY sales growth of 50-100% and offline sales are up 50%+. Companies well placed to benefit include Weizhixiang, Hema Fresh, Anjoy Foods and Longda.
Edition: 130
- 04 March, 2022