Core view
At present, it is in the peak season of annual goods preparation, and the prefabricated vegetable sector has ushered in a bright performance. Near the Spring Festival, the major takeout and online platforms have ushered in the peak of customization of prefabricated dishes. At the same time, under the current epidemic situation, many places have launched local new year’s initiatives. Under the joint influence of the fast-paced lifestyle and severe epidemic situation, the demand for home cooking during the spring Festival is high, which promotes the strong demand for prefabricated dishes.
Prefabricated dishes are one of the rising stars in the field of food processing and catering. The trend of gradually increasing the chain rate and standardization rate of the catering industry will continue to provide broad development space for the field of prefabricated dishes. In recent years, the high-speed running pace of life in the first and second tier cities, the continuous innovation and progress of technology in the fields of housing economy and cold chain logistics have ushered in a good opportunity for the development of prefabricated dishes. Compared with developed countries such as the United States and Japan, the field of prefabricated vegetables in China started relatively late. It was not until about 2000 that prefabricated vegetables enterprises mainly producing semi-finished vegetables appeared, and their initial development was limited by backward technologies such as cold chain and quick freezing. With the continuous progress of cold chain, quick freezing and other technologies in China’s catering industry and the demand of the catering industry to improve the chain rate, prefabricated vegetable enterprises can continuously reduce costs, break regional restrictions and usher in broad development space. In 2014, the prefabricated vegetable industry began to enter the mass production stage at end B. In 2020, affected by the epidemic situation, consumption scenarios such as dining out were limited, the demand for home cooking was high, and prefabricated dishes began to usher in a period of rapid development at the C-end. According to ncbd data, the scale of China’s Prefabricated vegetable market will exceed 300 billion yuan in 2021 and is expected to exceed 830 billion yuan by 2025, of which the scale in the C-end market will account for nearly 30%. From the perspective of the competition pattern of China’s Prefabricated dishes, there are many participants in the prefabricated dishes market, and the industry concentration is low. On the one hand, it is due to the late start of China’s Prefabricated dishes, on the other hand, it is also related to the structure of China’s catering market. In addition, all prefabricated vegetable enterprises basically choose large single products to card the prefabricated vegetable market. China’s food structure has the characteristics of a wide variety, different tastes and diverse cuisines. It is difficult for a single enterprise to form scale advantages in all fields. At the same time, brand building has also become the focus of many prefabricated vegetable enterprises. With the increasing number of participants in the prefabricated vegetable market and the gradual intensification of market competition, enterprises realize the importance of improving brand power. Many enterprises choose tmall and JD flagship stores to broaden the sales channels of products, and continue to complete product and brand promotion through advertising and short videos to improve brand awareness.
At present, in the b-end catering industry, prefabricated dishes can help catering enterprises effectively save labor cost, time cost, kitchen area, etc. At the same time, the use of prefabricated dishes can help catering enterprises solve the problem of inconsistent taste of chain catering, which is of great help to the current catering industry to improve the chain rate and standardization rate. On the C-side, the repeated impact of the epidemic and people’s increasingly fast pace of life have significantly increased the demand for prefabricated dishes under the demand of consumers for home cooking. At present, the market concentration of the prefabricated food industry is low. In the future, under the condition that the leading enterprises of prefabricated food continue to improve product quality, meet the diversified needs of products, expand market share and improve the concentration, it is expected to continue to accelerate the development at the B and C ends, and boost the chain rate and standardization rate of the catering industry, Catering enterprises with prefabricated vegetable business layout are also expected to show more brilliant performance. Related targets of the catering industry: Haidilao, Huatian Hotel Group Co.Ltd(000428) , Jinling Hotel Corporation Ltd(601007) , Guangzhou Lingnan Group Holdings Company Limited(000524) , Xi’An Catering Co.Ltd(000721) , Tongqinglou Catering Co.Ltd(605108) .
Risk tips
Tip 1: repeated epidemic impact.
Tip 2: macroeconomic fluctuations.
Tip 3: food safety issues.
