"It's not healthy to always eat takeout, but now there are prefabricated dishes. How convenient!" After 95, Chen Dan (a pseudonym) said, "this is what I think of as the lazy economy."
The lazy economy and the epidemic house lead to changes in consumption habits. Prefabricated dishes that have both quality, nutrition and taste and cater to the lifestyle of young consumer groups under the fast-paced life also welcome the layout of various giants. Moreover, since the new year, "the concept of prefabricated vegetables" has set off a wave in the A-share market.
"eat" out of the trading board!
At present, there is no unified standard and division in the industry. Generally speaking, the so-called prefabricated dishes and semi-finished dishes refer to the dishes that have been matched in the factory and then stored in frozen or vacuum packaging. Consumers only need to heat them after they buy them, or simply cook them through the combination of materials and bags in the prefabricated vegetable packaging, which can be made in a short time.
With the lazy economy, epidemic situation, homestead and other factors, prefabricated dishes have become hot recently. This heat was directly projected to the A-share market after the new year. Recently, many prefabricated vegetable concept stocks have risen sharply, and some stocks have risen surprisingly.
Among them, Zhanjiang Guolian Aquatic Products Co.Ltd(300094) is the most outstanding. Since the new year, the company's stock has continued to rise as a whole, the stock price has nearly doubled in nine trading days, and three "20 cm" trading limits have been harvested in the last three trading days.
In addition to Zhanjiang Guolian Aquatic Products Co.Ltd(300094) , several related concept stocks such as Shandong Delisi Food Co.Ltd(002330) , Jinling Hotel Corporation Ltd(601007) , Haixin Foods Co.Ltd(002702) have also performed prominently recently. According to the reporter's statistics, after new year's day in 2022, several A-share prefabricated vegetable concept stocks have increased by more than 30%, far exceeding the market performance in the same period.
From the perspective of A-share listed companies, many listed companies are also involved in this track in recent years, but most of the revenue is not high.
For example, Jinling Hotel Corporation Ltd(601007) recently announced that Jiangsu Jinling Food Technology Co., Ltd., a holding subsidiary of the company, is an enterprise mainly engaged in the R & D, operation and sales of Jinling food. The company carries out R & D and transformation based on Jinling catering special pastries and dishes, adopts the production mode of prefabricated dishes, and creates special pastries and prefabricated dishes for mass consumption, business festivals and semi-finished products of hotel catering. The company's operating revenue in the first three quarters of 2021 accounted for less than 5% of the company's operating revenue, which is still in its infancy.
Tongqinglou Catering Co.Ltd(605108) also recently announced the abnormal fluctuation of stock trading, saying that Anhui Tongqinglou Catering Co.Ltd(605108) Food Co., Ltd., a wholly-owned subsidiary of the company, is involved in the prefabricated vegetable business, which is the key business segment of the company. At present, this business is still in its infancy. As of September 30, 2021, the operating revenue of this business accounts for less than 1% of the operating revenue of the company.
However, some A-share companies have a relatively large volume of prefabricated dishes. For example, Shandong Delisi Food Co.Ltd(002330) recently announced that in 2020 and the first three quarters of 2021, the operating revenue of the company's Prefabricated food related products accounted for about 11.22% and 9.79% of the company's overall operating revenue respectively. In the first three quarters of 2021, the gross profit margin and net profit margin of prefabricated vegetable related products were about 20% and 2.78% respectively.
practical exploration: consumer acceptance is very different
With the Spring Festival approaching, prefabricated dishes are becoming more and more popular. The reporter saw in a large supermarket in Luohu District, Shenzhen that many brands of prefabricated dishes were placed in the freezer. The salesperson said that these semi-finished prefabricated dishes are more popular with young consumers, and middle-aged and elderly consumers still like to buy fresh ingredients. In terms of price, the price of prefabricated dishes is about 20% higher than that of the same ingredients. "Although prefabricated dishes reduce rent and labor costs, they increase R & D costs, transportation costs and marketing costs."
A large supermarket in Luohu District, Shenzhen placed many brands of prefabricated dishes, photographed by Wu Jiaming
The reporter also interviewed several consumers randomly and found that the acceptance of prefabricated dishes is very different among different ages. It is convenient, fast and has many categories. The characteristics of prefabricated dishes almost poke the pain points of contemporary young people, especially those in busy cities. Some young consumers said that they always eat takeout without feeling at home. Prefabricated dishes can have a "fireworks" after simple processing. However, some older consumers "don't catch a cold" and think that the taste of prefabricated dishes can't be compared with current dishes, the price is also high, and it's difficult to identify the quality of dishes.
A large supermarket in Luohu District, Shenzhen placed many brands of prefabricated dishes, photographed by Wu Jiaming
Subsequently, the reporter visited several hotels. The relevant person in charge said that due to the epidemic situation, many customers stayed for the new year this year, and the orders for prefabricated vegetable packages for new year's Eve dinner gradually increased, especially potted vegetables. The reporter found that the price of some prefabricated spring potted vegetables eaten by 8 to 10 people is between 1600 and 2000 yuan. Some consumers interviewed said that compared with ordering in restaurants, prefabricated dishes still have obvious price advantages.
In terms of e-commerce platforms, prefabricated dishes have become one of the "hot money" of major e-commerce platforms. The reporter learned from JD that the prefabricated dishes for the goods festival in 2022 have become a hot commodity. According to the statistics of JD fresh data, the overall sales amount of prefabricated dishes in January has exceeded 10 million, with a year-on-year increase of about 94%, and the sales of Beijing, Shanghai and Guangzhou account for nearly 50%.
the prefabricated vegetable industry is "capital hot", but there are also hidden dangers
Back to 2020, most of the prefabricated dishes were only heard but not shaped. Since 2020, the "spread" of prefabricated dishes has developed from back-end manufacturers to front-end food enterprises, and then to entrepreneurial enterprises. All kinds of prefabricated dishes have sprung up in front of C-end consumers.
According to the data of enterprise investigation, the registration of enterprises related to prefabricated dishes has increased year by year since 2011. The number of registrations in 2011 was 1796, exceeded 4000 for the first time in 2015, and exceeded 8000 for the first time in 2018. The number of registrations in 2020 reached the highest in nearly a decade, with a total of 12500 new registrations throughout the year, an increase of 9% year-on-year. In the view of insiders, the epidemic situation makes the prefabricated vegetable outlet come in advance.
According to incomplete statistics, since 2020, many enterprises related to prefabricated vegetables have obtained financing, and there are many big investors, with an amount of more than ten million and hundreds of millions. Recently, according to public market information, the tongue tip technology group founded by Lu Zhengyao is incubating a new prefabricated vegetable project called "tongue tip workshop", which is said to be the latest project hatched by the team that has built Ruixing coffee. It caters to the hottest trend of prefabricated vegetables and wants consumers to "achieve a table full of Chinese in 20 minutes".
In fact, prefabricated dishes have long been a hot spot. A report on the development of China's Prefabricated vegetable industry from 2021 to 2022 shows that the scale of China's Prefabricated vegetable market will exceed 300 billion yuan in 2021 and is expected to exceed 83 billion yuan by 2025. Some organizations even predict that China's Prefabricated vegetable industry is expected to achieve a scale of more than 3 trillion yuan in the next 6-7 years and become the "Next Trillion catering market".
We all know that capital is invested in the future. However, some people in the industry believe that whether this "future" can be realized may be more due to the change of urban people's living attitudes and habits.
It seems that prefabricated dishes are like the expansion of catering enterprises and catering food, but what is involved is actually the whole production industry chain and even the whole catering ecology.
Zhu danpeng, an analyst of China's food industry, believes that the development prospect of the prefabricated vegetable market is very broad. "We can see that at the B end, with the 'homestead culture', 'lazy effect' and 'cooking Xiaobai' and the post epidemic era, the overall demand for prefabricated dishes is also increasing, which is a very good background for the whole industry. In terms of taste standardization, prefabricated dishes are relatively standardized, such as high-speed rail, airlines and public utilities The company's group meals, prefabricated dishes have unique advantages. Relatively speaking, the recognition of the first and second tier cities is relatively high. Generally speaking, with the cognition of consumers and the acceleration of the pace of modern life, the market space of prefabricated vegetables will be broader in the future. In the future, how to match and meet the core needs and demands of consumers at the industrial end will be an urgent issue and problem to be solved by the whole prefabricated vegetable industry. At present, the pain points of the prefabricated vegetable industry market are mainly reflected in two aspects. On the one hand, there is no national standard, which will cause hidden dangers in food safety; On the other hand, the consumer's recognition and acceptance of prefabricated dishes may not be high enough. Some consumers will think that the nutrition of prefabricated dishes is lost or the ingredients are not fresh. "
Sealand Securities Co.Ltd(000750) according to the recent research report, the prefabricated vegetable industry is expected to usher in rapid development driven by the cost reduction and efficiency increase at the b-end and the change of consumption habits at the C-end. At present, the industry is still in the early stage of penetration and can still accelerate its growth in the future. It is estimated that the scale of the prefabricated vegetable industry is expected to exceed 400 billion yuan in 2026, and the CAGR (compound annual growth rate) will reach about 15% from 2021 to 2026, including 300 billion yuan for the b-end prefabricated vegetable and 100 billion yuan for the C-end prefabricated vegetable.
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