According to the Prospect Industry Research Institute's Analysis Report on Brand Competition and Consumer Demand Investment Forecast in China's Bakery Industry,

Bakery has always been the breakfast and staple food of Europe and the United States, and in comparison, China's bakery industry has a relatively short period of time to develop, and at the same time, bakery is mainly used as a snack for desserts, and there is a big gap between the per capita consumption and that of Europe and the United States. At the same time, baked goods are mainly used as dessert snacks in China, and there is a big gap between the consumption and that of Europe and the United States, etc. With the increasing awareness of Chinese consumers about baked goods, there is a huge space for the development of baked goods in China.

Low per capita consumption, huge room for market growth

Baked goods are mainly divided into four categories, namely bread, pastries, cakes and dessert mixes, and have been used as breakfast and staple food in Europe and the United States. However, in the Asia-Pacific region, due to the differences in people's living habits and dietary patterns with those of the West over the long term, baked goods are usually consumed as snacks rather than meals. consumed as snacks rather than regular meals. According to the statistics of the Baking Professional Committee of the China Food Industry Association, the per capita consumption of bakery products in China was approximately 7.8 kilograms in 2019. Although the per capita consumption of baked goods in China has been growing year by year in recent years, there is still a large gap compared with countries in Europe and the United States, and there is more room for growth in the industry.

In recent years, with the accelerated pace of people's lives and the penetration of Western dietary culture, baked goods have gradually emerged in the breakfast market, showing a certain trend of regular meals, in the baked goods under the dual impetus of the demand for regular meals and leisure demand, the industry's market size has also increased further, according to Euromonitor statistics, China's bakery food market size in 2020 is expected to reach 256.7 billion yuan. According to Euromonitor, China's baked goods market size in 2020 is expected to reach 256.7 billion yuan.

Segmented products in the bakery pastry accounted for more than half

In China's bakery products, bread consumption accounted for 24% of the consumption of cake consumption of 18%, the consumption of pastries accounted for the largest share of 58%, pastries have become the largest share of bakery products in the sub-category.

Foreign brands enter the local brands to accelerate the rise of

Bakery and pastries since the 1980s, gradually in the form of complementary food in the domestic market, in China's broad market demand attracted, foreign brands with brand and capital advantage to enter the Chinese market and quickly open.

The entry of foreign brands has awakened the domestic bakery market, and a number of domestic manufacturer brands have risen rapidly and become the dominant force in the market with the advantage of localization. According to Euromonitor data, in 2018, Mankerton, Holliday, Bread New Words, Yamazaki Bread, and Bimbo's bakery food revenue in the Chinese region was about 800 million, 2 billion, 1.2 billion, 120 million, and 500 million, respectively. And local brands Tao Li Bread, Dali Food 2018 baked goods revenue has reached 4.8 billion yuan, 6.25 billion yuan, market share far more than foreign brands.

Industry competition pattern dispersed market concentration still has room for improvement

In recent years, China's baking industry emerged including Tao Li, Daliyuan, Pan Pan and some other high-quality local enterprises, but in general, China's bakery industry market concentration is still low, China's bakery industry CR5 in 2019 was 10.6%, much lower than that of Japan, the United Kingdom, Mexico, the United States and other countries, at the same time, China's baking industry's current leading enterprises Daliyuan and Tao Li's market share distribution is only 3.7% and 3.3%, the industry's competitive pattern is relatively decentralized.

Short guarantee products have become a popular track

The bakery industry is divided into three categories according to the length of the product shelf life: short guarantee, medium guarantee, and long guarantee. In recent years, with people's concern for health, short guarantee bakery products are more in line with the trend of upgrading the consumption of healthier food, and major bakery consumer brands have also launched short guarantee bakery products.

Baked goods will be Korean food, healthy development

With young consumers affected by foreign eating habits and the accelerated pace of urban life, more young people choose convenient and nutritious and healthy food, and fast, convenient Western-style meals have become people's first choice. At present, more than 11% of Chinese people choose to eat bread for breakfast, which is only lower than the number of consumers who choose to eat buns. The domestic baking market is in a rapid development stage, and new baking products show the trend of breakfast, fresh food and health.