Each subcategory is evergreen in the life cycle change: comprehensively, the seasoning industry within the life cycle change to achieve category substitution. For example, soy sauce, as one of the salty seasonings, has partially replaced table salt, and is now being partially replaced by compound seasonings; chicken essence and chicken powder are also in the process of gradually replacing monosodium glutamate (MSG). At the same time, as a necessity on the table, condiments are purchased less frequently and account for a smaller proportion of expenditure, so the demand is less income-elastic and less affected by the volatility of the macro-economy. Therefore, the condiment industry has always been in the midst of longevity, which is called the evergreen tree of the consumer goods industry.
2018 seasonings and fermented products industry market size of more than 340 billion yuan, seasonings per capita consumption is much lower than other countries, is expected in 2022 the scale is expected to exceed 450 billion yuan. With the recovery of catering and product upgrading, the sales revenue of the seasoning industry in 2018 was 342.7 billion yuan, an increase of 10.65% year-on-year.In 2017, China's per capita consumption of seasonings was only 79 yuan, far lower than that of Japan (899 yuan), the United States (517 yuan), and South Korea (188 yuan), with a large market potential.