After the period of obvious decline in the impact from 2013 to 2014 and gradual recovery in the market from 2015 to 2016, the moon cake industry, through adaptation and adjustment, eliminated some backward production capacity, increased brand concentration, and the Mid-Autumn Mooncake market gradually entered a stable development trend, but there will still be some special spot checks every year. Food safety issues, the industry behind the relatively low threshold, seasonal food competition is still fierce situation can not be ignored.
The report on the development trend of the mooncake industry released by the China Bakery Food and Sugar Products Industry Association in 2019 shows that the market of mooncakes in 2017 is 14.6 billion yuan, an increase of 8.15% over the same period of last year; the overall sales and sales of the mooncakes industry in 2018 will grow by 5%-10%, and the overall sales and sales of the mooncakes market in 2019 are expected to grow by 5%-8%. Overall sales volume and sales growth will decline.
First financial and economic reporter visited chains, baking shops, restaurants and other places offline, and observed the sales of the flagship stores of the major moon cakes brands online. He found that the old traditional moon cakes still have a group of loyal fans, but the low-sugar (sugar-free) technology, cross-border joint ventures, artificial meat, small and beautiful and so on are fresh. The key words or concepts of the trend are also becoming the new favorite of the moon cake market.
The growth rate of Xiaozhong Chao brand moon cakes exceeded 300%.
Reporters observed that most of the consumers who bought gift box mooncakes focused on the range of 80 yuan to 200 yuan, most of them were middle-aged and elderly consumers, and more than 250 yuan a box of mooncakes with high-grade ingredients such as milk yellow, abalone and so on were not many. In addition, many young and old people choose to buy bulk mooncakes with retail prices ranging from 4 yuan to 10 yuan.
In addition to giving gifts, I would hardly consider buying moon cakes gift boxes. One is that I cant choose my own taste. The other is that I cant finish it without wasting it. I choose two of my favorite tastes from the bulk moon cakes. Its OK to have them at the right time for the holidays, and I dont particularly want to eat moon cakes. Zhou Yun (not her real name) who spent the weekend visiting supermarkets with friends told First Financial Journalist that when giving gifts, parents and grandparents might like old-fashioned mooncakes, but they tend to pack more fashionable, fresh and diverse mooncakes such as Starbucks, Haagen Dazs, Disney, Gothic Van and some Western Point stores. Cake.
Subsequently, the first financial and economic reporter observed in the bakery Xinyu, Xibei and other Western Point stores, restaurants and Starbucks offline stores, and found that in addition to corporate group buying customers, the majority of young people buy moon cake gift boxes in these channels, but the price is also significantly more expensive, the retail price of a single box of moon cakes is basically more than 200 yuan.
An agent of Xinghualou Mooncakes told reporters that the problem of the decline in the sales of traditional mooncakes merchantsover-channel and Western Point specialty stores stems from the aging of traditional marketing methods of mooncakes and the lack of many innovations, which makes it difficult to attract the new generation of consumer groups; on the other hand, the cold and refreshing channels of mooncakes merchants over-channel, as well as the channels of electronics, catering and so on. Distribution, traditional moon cakes enterprises are facing the pressure of rising costs, which leads to profit compression, as well as the involvement of caterers in baking, snacks, Wenchuang and other sub-industries.
The online channel sales strategies of different moon cakes brands are also different. Take Tianmao Platform as an example, there are no promotional price reduction or full reduction activities in Meixins stores, and even several moon cakes show that they have been sold out; Guangzhou Restaurant has a second box reduced by 50 yuan and grabbed a second 9.9 yuan in time; Huamei, Daoxiangcun, Wufang, etc. The promotional efforts of the brands such as Zhai are also very strong, and the price of moon cake gift boxes is mostly below 100 yuan. The moon cake gift boxes launched by the zero food brands such as Baicao flavor and three squirrels highlight the gorgeous color and shape, and the lovely packaging trend. The price does not exceed 80 yuan. The single moon cake gift boxes show the highest monthly sales of more than 150,000 boxes.
In addition, different types of cross-border joint launch of moon cakes are not uncommon, the old apricot blossom joint Coca-Cola launched a joint gift box, but only the moon cakes and Coke into a box, and redesigned the box packaging. The flagship store named My Heart combines the elements of flowers and birds in the Palace Museum cultural relics with non-legacy masters to pack moon cakes into a delicate cultural product.
In addition to the differences in filling and packaging, this years small size moon cake gift boxes have been more popular. Taking Gongdelins four tastes of moon cakes and Mixins four mini-ice and durian gift boxes as examples, the price is lower than the conventional 8-10 moon cake gift boxes. The official flagship stores of both stores show that they are out of stock or out of shelves.
According to the 2007 China Moon Cake Word-of-mouth Big Data Research Report, 54% of the major people who pay attention to and buy moon cakes in 2017 are consumers aged 30-39, 22% are consumers aged 20-29, and young people after 80 and 90 are the main consumers. When purchasing mooncakes, the Millennium generation is obviously more willing to pursue the added value of interesting, healthy, fashionable and fashionable trends. The requirements of filling diversification and packaging innovation are also constantly upgraded, while the attention to the magnificence of packaging and whether the brand is old-fashioned is significantly reduced.
According to the analysis of China Business Industry Research Institute, the design style of moon cakes from 2017 will continue to be simple and environmentally friendly, highlighting cultural characteristics, more diverse styles, box moon cakes will remain the mainstream sales products, and the sales of simple (bagged, barreled) and bulk moon cakes will continue to increase. Cantonese moon cakes have occupied more than 50% of the market share in the past two years, and this advantage will continue to be maintained. However, small groups of moon cakes (ice cream, cheese, chocolate, nuts, frozen fruits, etc.) catering to young peoples tastes and innovative styles are growing rapidly at a rate of more than 300%. They are grabbing the market with traditional brands. The application of heart technology will also be expanded.
Food industry analyst Zhu Danpeng said that Chinas moon cakes have two camps, one is the traditional brand including the old brand, the other is the new fashion brand. Consumers pay attention to the quality of the traditional brand, and the other is the tonality. The demand of the two major consumer groups is different, as a whole, they are going to Dajian. Kangs direction.
In the spot check of the above-mentioned State Administration of Market Supervision, there are Soviet-style Baiguo mooncakes (baked products) sold by Huarun Wanjia Living Supermarket (Zhejiang) Co., Ltd. Hangzhou Jinsha Avenue Shop and commissioned by Zhejiang Longwei Food Co., Ltd. by Hangzhou Xixiang Food Factory, Zhejiang Province. The fungi does not meet the national food safety standards and the inspection institutions. It is Sichuan Food and Drug Inspection and Testing Institute. Sucrose-free black hemp pepper-salt moon cakes (Soviet-style moon cakes) sold by Shanghai Minhang Huacao Darunfa Commercial and Trade Co., Ltd. and supervised by Shanghai Zhongjing Food Co., Ltd. and produced by Kangli Food Co., Ltd. of Maanshan City, Anhui Province, do not meet the requirements of national food safety standards in terms of acid value (in terms of fat). The inspection institution is Fujian Province. Research Institute of Product Quality Inspection.
The General Administration of Market Supervision has instructed the market supervision departments of Heilongjiang, Shanghai, Zhejiang, Fujian, Jiangxi, Hunan, Guangxi and Chongqing provinces to immediately organize the disposal of the unqualified food found in the sampling inspection, find out the flow direction of the products, take measures such as recalling the unqualified products off the shelves to control the risks, and take measures to control the violations of laws and regulations. Strict treatment according to law; timely disclosure of risk prevention and control measures taken by enterprises and verification and disposal to the public, and report to the General Administration.
Ju Danpeng said that from the national sampling results of 4.26% of the non-conformity rate, compared with previous years has increased, the whole food safety has become a policy segment and the most concerned consumer issues, as consumers continue to understand food safety issues, this issue will have a great impact on the brand and goodwill of enterprises. u3002
Following that, Shanghai Municipal Market Supervision Bureau reported on the supervision and sampling of moon cakes in 2019. A total of 116 samples (batches) of moon cakes were sampled in the whole city, of which 38 were produced in the city, and 78 were operated by food enterprises such as supermarkets and food stores. The samples involved many brands produced by enterprises in Shanghai, Jiangsu, Guangdong, Fujian, Anhui, Hubei, Jiangxi, Zhejiang and Shandong, such as Xinghua Tower, Xinya, Gongdelin, Laodfang, Yuanzu, Guanshengyuan, etc. The results showed that the qualified rate of supervision sampling was 99.14%, the number of unqualified samples was one batch, and the unqualified rate of samples was 0.86. The unqualified mooncakes were produced by Xinfeng Xiangyi Food Factory in Dantu District, Zhenjiang City, Jiangsu Province, and the inspection institution was Ningbo Customs Technology Center.
Zhu Danpeng said that mooncakes are a very low threshold but very profitable industry, many enterprises want to share a piece of cake, from the industrial side to the consumer side as a whole, due to the lack of technology content, technical barriers, high profits, leading to the inconsistency of enterprises. The three problems of aging fillings, excessive preservatives and excessive bacteria are the long-term hidden dangers of Chinas moon cake industry. At present, there are no good measures and systems to completely eliminate them. With the deepening of the market economy, the industry itself will have the survival of the fittest. It is not enough to rely solely on relevant departments to investigate and deal with them. The key is still to rely on consumers. Golden eyes. He said.
The new Food Safety Law has been put into effect since October 1, 2015. In 2016, under the guidance of the strategy of increasing varieties, improving quality and creating brand, moon cakes have been significantly improved in terms of internal quality and packaging quality.
With the entry into force of relevant laws and regulations, the state has tightened its supervision on food safety, and small enterprises and workshops that fail to meet the QS/SC certification standards will be forced to withdraw from the market gradually because of the restriction of product circulation; to meet the requirements of periodic purchasing and production, improving efficiency through technological transformation, and training R&D teams to ensure product innovation are also in progress. Increase technical and economic barriers to small businesses and workshops.
Competition intensifies and artificial meat gimmicks outweigh reality
According to the TOP10 list issued by the authority of Ai Medium Gold List, ten moon cakes brands of Meixin, Yuanlong Ronghua, Guangzhou Restaurant, Huamei, Jiahua, Beijing Daoxiangcun, Xinghua Tower, Daoxiangcun, Yuanzu and Gongdelin have succeeded in the list with comprehensive strength. Yuanlang Ronghua, the three major moon cakes brands in Guangdong, is listed successfully. Guangzhou Restaurant and Huamei occupy three seats in the top five. Old-fashioned moon cakes are still popular. Two old brands, Meixin moon cakes and Yuen Long Ronghua, are leading the market. Old-fashioned moon cakes such as Xinghua Tower, Daoxiang Village and Yuanzu are also on the list.
In 2018, the big brand enterprises in the national mooncake market gained a lot. The output of mooncakes in China was 250,000 tons, and the sales volume was 12 billion to 13 billion yuan, up 6% from the same period last year. The market has been basically saturated, the brand competition has intensified, the market share of small and medium-sized moon cakes enterprises has begun to decline, especially the cross-regional sales decline has accelerated. The marketing of Guangdong brands in the Northern Expedition and westward March has been in the forefront of the country. Over-packaging of moon cakes has been significantly curbed, resulting in overall price reduction. Enterprises pay more attention to the development of new products and meet the demand. Diversification of demand, looking for a differentiated route.
From the brand point of view, the major brands of moon cakes have a relatively significant regional character, relying on the founding to consolidate the leading position in the region, and then gradually expand to the whole country. Guangzhou Restaurant originated in Guangzhou, and gradually exploited East China and Central China; Yuanzus dominant areas were in Jiangsu, Zhejiang and Sichuan; the northern market of Beijing Daoxiangcun radiated widely; Meixin and Yuanlong Ronghua gradually promoted, occupying a considerable proportion of the high-end mooncake market.
There are many listed companies involved in the business of mooncakes. Taking Guangzhou Restaurant (603043.SH) and Yuanzu Food (603886.SH) as examples, Guangzhou Restaurants mooncakes series products achieved a revenue of 898 million yuan in 2017, accounting for 41% of the companys total revenue, which is the companys main revenue source. According to the 2018 annual report, the revenue of Guangzhou Restaurant comes from two major sectors: food manufacturing and catering. The revenue of mooncakes belonging to food manufacturing is as high as 1 billion yuan in that year, while the revenue of frozen food, other products and catering are all hovering around 500 million yuan. The operating cost of Guangzhou Restaurant is removed, and the restaurant is in the mooncakes, frozen food and its products. The remaining products and catering business profits are 650 million yuan, 150 million yuan, 170 million yuan and 370 million yuan respectively, and the mooncake business accounts for nearly half of the profits.
Guangzhou Restaurant is a large-scale food manufacturing and catering service group in South China. It is one of the leading enterprises of Chinas Old Brand moon cakes with 83 yearshistory. Up to now, Guangzhou Restaurant Food Manufacturing Plate has more than 190 cakes shops covering the Pearl River Delta. The products cover many series including moon cakes, but it is very clear that Obviously, Guangzhou Restaurant relies heavily on the contribution of mooncake business, and mooncakes belong to seasonal and periodic food. They are vulnerable to market changes. The overall risk resistance ability of Guangzhou Restaurant is declining because the mooncakes business accounts for the majority.
In contrast, the revenue of Yuanzus mooncake business in 2018 was slightly lower than that of Guangzhou Restaurant, but Yuanzus mooncake products accounted for only one third of its total revenue, with gross profit rate reaching 63.98%, and the revenue of mooncakes in the period from 2015 to 2017 also accounted for less than 35%. On the contrary, its Western Point Cake business accounts for a larger proportion, and its gross interest rate is higher (gross interest rate is 86.88%). Because the growth rate of operating costs is almost double the growth rate of revenue, the gross interest rate of moon cakes in 2018 is 3.85% lower than that of the previous year, and the production and sale of moon cakes gift boxes are 24.4% lower than that of the previous year, but other business support has cushioned the business of moon cakes. Risks from the downturn.
Guoxin Securities analysis said that the moon cake industry can be judged from three aspects: first, the seasonality of festival food is strong, although access barriers are not high, but the short-term effective large-scale production and sales very test the short-term purchasing, production organization, channel delivery capacity of manufacturers, and need to take into account the daily idle capacity balance, so the industry still has a certain degree. Second, social attributes support head brand premium, the first 20% of the brand accounted for about 60% of the transaction volume of moon cakes, leading brand advantage highlighted. Third, under the strengthening of R&D, products will continue to bring forth new ones, and the price of superior products will continue to rise under the brand premium.
A founder of a food company in Zhejiang Province analyzed the first financial and economic reporter. After the moon cake market recovered in 2016, more and more brands, especially emerging brands, joined the moon cake industry. The market competition became more and more fierce, and the high gross profit of moon cakes had declined. However, compared with other industries, it was still relatively high. Under this background, the market surged. With more and more enterprises entering the industry, it will be an inevitable trend that the supply of mooncakes exceeds the demand. As can be seen from the continuous postponement of the consumption season of traditional festivals, the polarization of the industry will become more and more serious in the future. Modern management means and the analysis of big data of consumers will become the watershed of the industry, and the living space of enterprises whose product quality is not relevant will become narrower and narrower.
In addition to the emerging tide brand moon cakes, this years Mid-Autumn Festival is the most popular net red rookie artificial meat moon cakes.
Shuangta Food (002481.SZ) announced on September 4 that it had signed the Strategic Cooperation Framework Agreement with Chinas Famous Artificial Meat Industry Enterprise Zhenmei (Beijing) Food Science and Technology Co., Ltd. and that the two sides would establish a comprehensive and in-depth cooperative relationship in the vegetable protein meat project. The latter was established in May 2019. After the news of the research and development of artificial meat with Li Jian, associate professor of Food and Health College of Beijing Business University, ZhenMeat has contacted more than 50 institutions. It is known that the next round of financing is in progress.
On September 5, 1,000 pieces of French plain meat mooncakes with retail price of 168 yuan were sold out in commercial channels and sold out in 3 minutes. The first batch of artificial meat mooncakes with 3,000 copies of precious meat was pre-sold on September 6 and officially sold on September 10. As of 11:00 p.m. on September 8, only 516 copies were sold in Taobao, a rare meat store.
According to the industry report of China Business Industry Research Institute, artificial meat technology is quite mature abroad, but at present it is only a concept of vegetarian food in China, and has not yet risen to the technology of artificial meat. At present, there are meat additives enterprises in China, but there is no real significance of artificial meat enterprises. At present, Chinas artificial meat is only at the stage of introduction, it is still a new thing, the degree of acceptance still needs to be improved.
Source: First Financial Responsibility Editor: Guo Chenqi_NBJ9931