With the improvement of the national economy in recent years, the concept of consumption upgrading came into being. The scale of China’s baking market increased year by year from 93.8 billion yuan in 2011 to 246.2 billion yuan in 2021, with a 10-year compound annual growth rate of 10.1%. As an emerging segment of the baking industry, frozen baking entered China as early as the 1990s. At that time, its business model was not widely used because the technology was not mature, the consumption capacity of residents was low, and the consumption habit of baking was not formed
In recent years, with the Westernization of diet and the change of consumers’ eating habits, baked goods have gradually become the mainstream diet choice of consumers, and the freshest and tasteful baked products have become the first choice of consumers. Under the influence of the epidemic in 2020, the pain point of high operating costs of baking enterprises has been magnified again. Frozen baking has accelerated its penetration during the epidemic because of its cost reduction and efficiency enhancement. In 2021, freeze baking enterprises Ligao Foods Co.Ltd(300973) , Namchow Food Group(Shanghai) Co.Ltd(605339) were listed successively. With the power of capitalization, it will open a new chapter for the development of freeze baking industry.
New supply mode: supply side reform of “central factory + cold chain transportation”
Different from the baking stores in the front store and the back factory, the frozen baking products adopt the standardized and standardized central factory mode for centralized production to ensure production efficiency and quality control. The cold chain transportation system can effectively preserve the freshness of frozen baking products and provide consumers with delicious baking with the same taste as the existing baking
“Easy to achieve multi-channel” business model: “easy to achieve” long shelf life
A big pain point in the baking industry is that the shelf life is too short. The industry divides the products into short-term guarantee, medium guarantee and long-term guarantee products according to the shelf life, while the on-site baking loved by consumers belongs to short-term guarantee products, which greatly limits the expansion of on-site baking channels. Because of its “long shelf life + easy handling” method, frozen baking products solve the problems of product shelf life and inventory, so they can be widely used in chain stores, large baking stores and catering enterprises
New consumption concept: the concept of Westernization of diet for the younger generation
In recent years, due to the continuous improvement of residents’ consumption capacity, China’s per capita baking consumption has also increased year by year. Under the trend of consumption upgrading, Western-style eating concepts such as coffee shops and afternoon tea have entered one after another, and the love and demand of the Chinese young generation for coffee, dessert and baking have increased rapidly
