When the retail of braised food is booming, marinated food has also become a popular track for catering people to invest. The top ten Chinese braised food brands have been announced in 2021. What is the current pattern of the braised food market? What are the new trends and new ways to play in the future?
This article was originally published by Hongqi.com (ID: hongcan18), author: Li Tang.
According to the "China Catering Category and Brand Development Report 2021", from 2011 to 2019, the growth rate of domestic retail sales of casual braised products has remained at 15% or above.
According to the "Special Analysis Report on the Casual Braised Products Industry" released by Guojin Securities in 2020, in the past few years, the compound annual growth rate of the leisure braised product industry has reached 20%, outperforming other snack food categories.
From the perspective of growth momentum, the braised food market with a billion yuan is still full of infinite possibilities.
htmlOn September 23, the "2021 China's Top Ten Brands Annual Ceremony" was grandly held at Beijing Guomao Hotel . It is understood that the "Top Ten Chinese Catering (Category)" award was announced at the ceremony, and a total of 200 catering brands in 20 categories won this honor.
Among them, the top ten Chinese braised food brands in 2021 were announced. Brands such as Juewei Duck Neck , Weekly Black Duck , Ziyan Baiwei Chicken , Huang Shanghuang , Jiujiuya, Braised Renjia , Liao Ji Bangbang Chicken , Liufu Duck , Shengxiangting New Hot Brine, Dragon Claw Claw and other brands have won awards.
According to the published list, the sixth-ranked , Jingwu Yabo , failed to enter the top ten. Shengxiangting's new hot braised type has entered the ninth position on the list for the first time with its fierce market momentum. Judging from the rankings, the changes in the top ten braised food brands this year do not seem to be much compared to last year.
But in fact, outside the list, the market competition in the braised food track has become increasingly fierce, from dining table consumption to casual occasions, from channels to supply chains, and it is not only as simple as changing positions on the list.
Three Kingdoms to the four heroes compete for the dominance
Who will be the superior after Ziyan?
For a long time, the braised food industry has always said that "Three Kingdoms are in harmony". Whether it is brand potential or channel stores, leading brands such as Juewei , Zhou Heiya and Huang Shanghuang have always firmly stood firm in the top three. According to incomplete statistics, as of the end of 2020, the number of Juewei Duck Neck stores reached more than 12,000, Zhou Hei Ya was more than 1,700, and Huangshanghuang was more than 4,600.
Overall, the three traditional braised food giants are accelerating their land grabbing and maintaining a relatively fast pace of expanding their stores. For example, Juewei, even under the influence of the epidemic in 2020, it still expanded its store volume to open 1,445 stores against the trend, further expanding its store volume advantages with major braised food brands. After Zhou Hei Ya officially launched the "direct sales + franchise" business model in June last year, the pace of conquering cities and land has also accelerated significantly, and 400 new stores have been opened. Huang Shanghuang opened 1,200 stores last year. Recently, it stated on the investor interaction platform that the store expansion plan has been adjusted accordingly due to the epidemic, but the overall goal has not changed. The company will still reach more than 10,000 stores in the next 3-5 years.
△Data source: "China Catering Category and Brand Development Report 2021"
Judging from the speed of expanding stores, the advantages of the three giants seem to have become more stable. However, with the rise of Ziyan Baiwei Chicken from the marinated food track, the status of the three giants has clearly faced challenges, and the situation of the four heroes in the marinated food track has also taken shape.
Dianping data shows that from 2018 to 2020, Ziyan's stores exceeded 2,000, 3,000 and 4,000 respectively, with a significant growth rate. After the epidemic, Ziyan began to accelerate the opening of stores. In 2020 alone, there were more than 1,000 new stores, with a total number of stores exceeding 4,700, surpassing the number of stores in Huangshanghuang, second only to Juewei Yabo.
△Data source: China Securities Research Institute & Dianping
It can be said that the successful rise of Ziyan Baiwei Chicken has allowed more local brands to see unlimited opportunities in the braised food track. As the braised food market is booming, local brands are also seizing scattered markets in their respective regions.
Capital entered the market, and dark horses appeared frequently!
Local brands erode 80% of the market
"China Catering Category and Brand Development Report 2021" shows that the market share of the top five brands in the braised food track in 2020 only accounts for about 20%. Among them, Juewei Duck Neck accounts for 8.6%, Zhou Hei Ya is 4.6%, Ziyan Baiwei Chicken accounts for 3%, Huang Shanghuang accounts for 2.8%, Jiujiuya accounts for 1.3%. The remaining about 80% of the market is scattered in the hands of some regional brands, single private stores and smaller local chain brands.
Overall, the entire braised food market is still dominated by the small workshop business model. Although the industry's branding trend is obvious as consumption upgrades bring about increased brand consumption, the market brand concentration is still very low at present, and brands of all sizes share the market share, and there are still great opportunities to emerge.
△Data source: "China Catering Category and Brand Development Report 2021"
More and more regional brands are quietly making efforts to join the "battlefield" with innovative positioning and gameplay, and gradually making a national market layout in order to overtake.
For example, representatives of braised food brands in Sichuan and Chongqing, Liao Ji Bangbang Chicken and Dragon Claw Claw were shortlisted for this list.
data statistics show that Liao Ji Bangbangji has currently opened 800 stores in more than 30 provinces and cities across the country. Liao Ji stores are concentrated in Sichuan, Hubei and Chongqing, including about 300 stores in Sichuan, about 150 stores in Hubei, and about 100 stores in Chongqing. Although other provinces and cities need to accelerate their layout, their overall development momentum is very good.
and Dragon Claw Claw Claw Claw, through the chicken claw category, product differentiation is also full of highlights.
At the same time, Jiujiuya, Lurenjia, Liufuya and other regional braised and cooked food brands in Shanghai have made efforts in their respective regions, gradually expanding from the deeply cultivated areas, and during this period, it has attracted the attention of many capitals.
Among them, Shengxiangting La Lu, which entered the top ten for the first time, is a typical representative of capital entry. Relevant information shows that Shengxiangting completed two rounds of financing in April and June, led by Tencent and Netju Capital, with a financing amount of more than 100 million yuan. In terms of store momentum, Shengxiangting has been deeply involved in the Hunan market and has opened more than 400 stores.
△Picture source: Photo Network
In addition to Shengxiangting Hot Braised, there are many financing stories for the 2021 braised food track. For example, the braised food brand "Chrysanthemum Blossom" was led by Wanwu Capital; Tiantu Capital invested in Zhou Heiya and then won the braised mana; Eagle Capital and Challenger Capital invested in Wang Xiaolu; Xingtu Capital and Huaying Capital exclusively invested in Wuzha and Yanlutang respectively; Jiuduo Suduo, which focuses on the catering market, also recently announced that it had completed a round A financing of hundreds of millions.
In addition to capital optimism, braised food brands have also begun to switch to "strategic investors".
, for example, Juewei Duck Neck, took the initiative to start the investment sector. Its subsidiary, Netju Capital, has participated in the investment and financing of brands such as Liaoji Food, Zero-dian Green Food, Shengxiangting, Slam Food, Yanjia Food, Wuzhao Food and other brands in the braised food track alone.
It can be said that with the influx of many capitals, the market for braised food has become extremely hot. The entire braised food track is full of a trend of dark horses coming out.
Top brands are accelerating their store expansion and seizing the market; local brands are each making efforts to break through with segmentation.So, do those who have entered the braised food market still have a chance?
Above, Hong Cafe Network also analyzed that although the current pattern of the braised food market is initially determined, the current competitive landscape of the braised products industry is scattered, with low branding and no head monopoly. This provides excellent development space for the rise of many brands. Especially the development trends of industry such as braised food, track segmentation and online retail will be potential development opportunities for a number of braised food brands.
△Picture source: Photo Network
First of all, the market opportunities of the marinated food with meals are gradually emerging.
The original attribute of braised cooked food is to serve. In the 1990s, the domestic economy began to develop, and the demand for chain development became more and more prominent. The casual snack attributes of braised and cooked food were strengthened, and a number of chain brands were first developed, so the market was opened up. The stewed meal attributes are gradually hidden behind more daily family consumption.
. In 2020, community catering was booming after the epidemic, and braised cooked foods with meals that do not require secondary processing were favored by consumers. The market of the stewed food market attracted everyone's attention after the prospectus of Ziyan Baiwei Chicken.
Red Meal Brand Research Institute conducted a survey on 400 braised and cooked food brands and found that the proportion of brands that focus on the attributes of meals has reached 37.5%, but among the top 10 brands in the number of stores, braised and cooked food brands are not the main ones, only Ziyan Baiwei Chicken and Liao Ji Bangbang Chicken are on the list. It can be seen that the braised and cooked food market in the braised food track has not yet been formed. Compared with the casual snack market, there is still a lot of room for catching up, and the opportunities for branding and scale are gradually emerging.
△Picture source: Photo Network
followed by chicken feet, hot braised, spicy braised, etc., ushering in the opportunity to subcategorize categories.
The segmentation of the catering track has won many brands the opportunity to stand out. China's five thousand years of history has nurtured food from all over the world with different styles, becoming an indispensable treasure on the Chinese food map, and the opportunity of the catering segmentation track has emerged.
And the braised food track, the braised food from different places is like people from different places, with different water and soil, and different personalities, which creates the opposite direction among braised food. From the perspective of regional distribution, Shu, Lianghu, Guangfu , Jiangnan, Wudi, and Minnan are all parts of the territory that cannot be ignored in China's braised food geography. At the same time, different styles of braised products have been derived due to differences in geographical location and regional customs.
△Image source: CBNData Consumer Big Data
Each subdivided category is a big market.
From the product perspective, Sichuan Jianglong Claw Claw, Xiamen Hongse Chicken Claw and Jiangsu Bairenjia broke through with the chicken claw sub-category. In order to avoid competition, taste characteristics have been built into differentiated highlights of chicken feet brands. For example, Crawler Food mainly focuses on sauce-flavored chicken feet, Wang Xiaolu mainly focuses on tiger skin chicken feet, Fujian dance claw and other brands, which cater to the multi-flavor and compound flavor needs of young people, and have achieved good market results.
, especially Fujian Wuzhao, has often cooperated with different industries such as sports lottery , games, trendy brands, etc., and has developed a different market strategy. Recently, it has announced that it has completed a round A financing of tens of millions of yuan and set a grand goal of 10,000 stores in five years.
In terms of hot braised and spicy braised, Shengxiangting, which has received financing twice this year, is a typical example of the sub-category of the braised flavour track. In addition, Cao's hot braised, upshan ripe, Yanlutang and other brands are also representative brands of hot braised.
: Yanluotang mainly sells tiger skin glutinous claws through the market positioning of fragrant glutinous hot braised products, with an annual sales volume of 15 million. From August 2020 to August 2021, the number of stores increased from 25 stores to 117. Recently, it also announced that it has received tens of millions of RMB in Series A financing.
△Picture source: Yanlutang
Finally, retail expansion, online channels will be the new battlefield for braised food brands to fight.
At present, the main channels for consumption of braised products are still concentrated offline. However, the rapid development of e-commerce has further accelerated the integration of braised food channels. The online market of braised products is not to be outdone, and the consumption scale has increased rapidly year by year. This has also made more and more braised product brands make efforts online.
It is precisely because traditional casual braised food brands do not pay much attention to online retail channels, which has allowed comprehensive casual snack e-commerce brands such as Three Squirrels and Liangpinpuzi to seize the opportunity. It is understood that from 2019 to 2020, the revenue of Three Squirrels meat braised food exceeded 1.2 billion yuan, accounting for more than 12% of the company's total revenue, second only to nuts and baking, with a year-on-year growth rate of 40%.
, which is mainly braised food, compared with the same year, according to relevant statistics, from 2019 to 2020, Huang Shanghuang achieved an online transaction volume of 452 million yuan through third-party sales platforms such as online flagship stores, word of mouth, and takeaway; Zhou Heiya's online channel revenue was 458 million yuan; Juewei Food 's online sales were 39 million yuan.
△Picture source: Photo Network
Although the overall sales scale of these braised food brands has increased, the revenue of the three online companies still cannot be compared with that of Three Squirrels, a non-traditional braised food brand. This online market is still worthy of careful cultivation and exploration by traditional casual braised food brands. A group of braised product brands that have focused on offline channels, such as Wang Xiaolu, Crawler Food and Wuzhao Food, have taken the lead in tasted the dividends of online channels, achieved brand awareness, and achieved good market results.
believes that when braised food brands begin to focus on online channels, their accumulated brand influence and strong supply chain capabilities offline will surely bring them rich returns.
Summary
Whether it is casual braised or table braised food, the market potential presented by the braised food track still has great room for development. Especially since the top brands have not yet formed a head monopoly pattern, who will be the next "juewei" and "Zhou Heiya" is worth looking forward to!
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