The development of cheese retail market has accelerated, and the product structure is facing adjustment.
China’s cheese consumption is still in its infancy. If the proportion of liquid milk consumption is 30%, the cheese consumption will have more than six times the growth space.
Driven by supply and demand potential and channel thrust, the cheese stick market has grown rapidly. However, children are the main consumer group of cheese, and the cognition of cheese needs to be expanded.
The short-term competition of cheese stick intensifies, and the industry enters a reshuffle period. Quality differentiation has become an opportunity to break the situation. Leading enterprises have accelerated the development of low-line market and normal temperature terminal.
The retail format of cheese in Japan is developed, and the snack trend of cheese products is obvious. As a mature market, the consumption proportion of natural cheese has gradually increased.
Cheese snacks will still be the most important track in China’s cheese industry. The consumer group will expand from children to adults. The consumption scenes will cover commuting, afternoon tea, night snack and so on.
Processed cheese products have rich forms and stable quality. In the short term, it will be the focus of industry development. The national standard will raise the lower limit of cheese addition proportion of processed cheese to 51%, which is conducive to the sound development of the industry.
Natural cheese snacks similar to snow print hand tear cheese are in the blue ocean market, but the price band of natural cheese is high, and the current consumer acceptance is low.
With the Westernization of Korean food and beverage, the accompanying cheese has become the mainstream. In addition to the popularity of Western fast food, army hot pot and cheese rice cake have become popular dishes.
Chinese cheese catering consumption will grow steadily with the expansion of Western fast food restaurants. Foreign enterprises have the advantages of raw materials and stable b-end customer base, and domestic substitution is difficult.
The combination of cheese and Chinese cuisine needs to be explored. Family meals or growth opportunities for Chinese enterprises.
Investment advice
Chinese cheese raw materials have been imported for a long time, and the import tariff of cheese from New Zealand and Australia has decreased, which is conducive to reducing the raw material cost of cheese enterprises.
It is suggested to pay attention to Shanghai Milkground Food Tech Co.Ltd(600882) , Panda Dairy Corporation(300898) .
