In the Tiger Spring Festival consumption data report released recently by Daily Yufu, Dingtong Grocery, and Box Horse, pre-prepared dishes have become one of the protagonists. Among them, Daily Fresh expects high-end prepared dishes to realize more than 2 times growth during the Spring Festival, Dingtong Buying Food's sales of high-end prepared dishes increased by more than 3 times year-on-year, and Box Horse's sales of prepared yearly dishes also increased by 345% year-on-year.
Industry analysts believe that the fresh food e-commerce platform's sales of prepared dishes rose sharply during the Spring Festival, with the catering industry's increasingly standardized and scaled trend, as well as multi-point distribution of the epidemic to stimulate the C-end of the consumer change. In addition, fresh food e-commerce companies need to seek new performance growth points, the capital favored prepared dishes may be the next breakthrough.
It is worth noting that the pre-fabricated dishes are not only fresh food e-commerce platforms, but also include traditional restaurant brands, startups and other players. Under the multi-party melee, fresh food e-commerce platform how to win?
Prepared dishes are "hot fried", is expected to become a trillion-dollar market
Prepared dishes, also known as "fast food", "lazy dishes" or "3R products (i.e., ready-to-eat, ready-to-eat, ready-to-eat, ready-to-eat, ready-to-eat, ready-to-eat). "3R products (i.e., hot and ready to eat and cook)", mainly refers to the central kitchen standardized raw material processing, pre-produced "semi-finished products". Generally, pre-made dishes are sold through the cold chain transportation, users can buy back after simple heating or cooking can be eaten, or even can be bought ready to eat.
In April 2021, with the "first stock of prepared dishes" known as the successful IPO, and ushered in the listing of the initial 10 stops, the highest market value soared to 14 billion yuan. In the same year, the three meals have material, the flavor of the lion, the flavor of the small plum garden and other related brands have also announced that they have received ten million yuan of financing.
After entering 2022, the heat of prepared dishes remains unabated. Only in January, in the domestic A-share market, Guolian aquatic products, Haixin food and many other conceptual stocks of prepared dishes continue to climb, set off a wave of stops; flush data show that the prepared dishes plate in January 12 soared 9.75%, the next day and soared 6.24%, the performance is quite eye-catching.
At the same time, Jen's Little Plum Garden announced on January 18th that it had received tens of millions of yuan in B+ round financing, led by Baidu Ventures and followed by Dingxiang Capital and Zero One Ventures. Together with its tens of millions of yuan of B round of financing completed in October 2021, this emerging brand has accumulated more than 100 million yuan in two rounds of financing.
In addition to the capital of the wind, brokerage institutions also hold high expectations for prepared dishes. Guohai Securities pointed out that the prepared dishes is one of the fastest growing sub-sectors in the food processing industry in the last five years, the industry is expected to reach a compound annual growth rate of 15% in the next five years, to 2026 scale of more than 400 billion yuan. Shanxi Securities is more optimistic, it said in a special report, 2021 China's prepared dishes space is expected to reach 340 billion yuan, an increase of 18% year-on-year, the next 3-5 years of China's prepared dishes industry is expected to become the next trillion dollar catering market.
This coincides with the analysis of third-party research institutions. iiMedia Research (Ai Media Consulting) released the "2021 China Prepared Dishes Industry Analysis Report", which points out that in 2021, China's prepared dishes market is estimated to be 345.9 billion yuan, and then it will rise at a growth rate of 20% year-on-year, and it is expected that in 2023, it will reach 516.5 billion yuan. If measured at a growth rate of 20%, the market size of prepared vegetables will exceed one trillion yuan in 2027.
Fresh food e-commerce bet on the wind in advance, the main attack on the C-end consumers
Such a huge market size, naturally attracted a lot of players. And in a crowd of players, the figure of fresh food e-commerce appears to be more special, they are early in this wave of wind up before the early layout of the prefabricated dishes track. Moreover, with the traditional catering brand to do prepared dishes focusing on the B-end users is different, fresh food e-commerce prepared dishes to attack the C-end consumers.
It is reported that Dingtang buy food as early as June 2020 to establish a fast food department, officially launched the relevant business, and then its early 2021 began to make formal efforts. Since the launch of its own brand of goods-based "fast food" in early 2021, it has been favored by users; as of November 2021, the platform's fast food sales of nearly 100 million, the total turnover of Dingtone grocery accounted for 3.5 times the share of Dingtone's overall market, and became one of the fastest-growing categories.
At present, Dingtone buy groceries fast food has launched more than 1,000 SKUs, the development of a number of private label series, including boxing shrimp, Dingtone big full of crowns, Dingtone ace dishes, Cai Changqing, Dingtone good food light, etc.. Among them, Boxing Shrimp is a series of seasoned crayfish; Dingtone Big Crown is a series of high-quality hot pots; Dingtone Ace Cuisine focuses on catering and local dishes, and is a series of "Eat Well"; Cai Changqing is positioned as a home-cooked dish; and Dingtone Good Food focuses mainly on steak and salad, and focuses on "Eat Healthy! "
No one is allowed to have a good time, but it's a good time.
It's no coincidence that Daily Fresh initially started to get involved in prepared dishes in 2020. At that time, it invited catering companies to join the channel by launching the "famous store famous dishes" channel to provide consumers with pre-prepared dishes. Since then, Daily Youshui also slowly began to try to research and develop its own brand of prepared food, and thus gained a number of users.
According to the data, in 2021, Daily Youshui had more than 800 SKUs of prepared dishes, including more than 100 SKUs of fine prepared dishes, and the overall sales volume increased by more than 300% year-on-year. Daily Yufeng's main material hot pot prepared dishes private label "daily signature dishes" once launched on the popularity of this year's New Year's Day sales growth of nearly two times.
In comparison, the box horse involved in prefabricated dishes for a longer period of time, as early as 2016, it entered this field, and in 2017 launched the crayfish and other prefabricated dishes pops. 2020, the box horse set up a 3R Division, and began to force its own semi-finished brand "box horse workshop". It is reported that the current box horse prefabricated dishes are mainly sold through self-research and co-branding, users can buy in the box horse freshman member stores, box horse MAX and box horse NB; its frozen prefabricated dishes SKU about 200, frozen prefabricated dishes SKU about 150.
A few days ago, Daily Fresh, Dingtong Grocery, and Boxmart all released their Tiger Spring Festival consumption data reports, and prepared dishes all became one of the protagonists. Specifically, Daily Youfood expects high-end prepared dishes to realize more than twofold growth during the Spring Festival, Dingtong Buying Food's sales of high-end prepared dishes increased by more than three times year-on-year, and Boxmart's sales of prepared year-round dishes also increased by 345% year-on-year.
Wu Tingting, head of Daily Youfan's dining group, has pointed out in a media interview that "a key reason why pre-made dishes can get up in the market lies in the scale, standardization, and industrialization of the entire catering industry, and most of the dishes in a restaurant can now be 'pre-made dishes.' "
Under the multi-party melee, fresh food e-commerce how to win
In the long run, the prefabricated dishes market still has a large space for growth, and is indeed worth looking forward to. But it should be noted that the prepared dishes industry is currently in the early stages of development, in addition to fresh food e-commerce platforms, traditional restaurant brands, startups, etc. have piled into the layout of which.
For example, because of the "scallop escape" famous roe deer island recently announced its involvement in prepared dishes, listing garlic fan scallops and other products. ST Huaying, known as "the first stock of ducks", also revealed that it will launch "pre-steamed duck blood, pre-steamed hot pot duck blood" and other prepared ingredients. In addition, Lu Zhengyao, known as the "capital butcher", has also returned to the public eye with a prepared dish project, which announced the creation of Tongue Tip Technology Group, incubating the "Tongue Tip Workshop" of the new project of prepared dishes.... ...
For the current state of the industry, Axiom Securities mentioned in a research report, nearly 70% of the prepared dish processing enterprises are still in a small, weak, scattered state, many are individual businessmen and workshop production and processing mode, did not form a more complete business model. Due to the large number of participants, the overall concentration of the industry is low, still in the blue ocean competition, has not yet appeared in the national leading enterprises.
So, under the multi-party melee, what are the advantages of the fresh food e-commerce platform, how to win?
The analysts believe that, compared to other enterprises, fresh food e-commerce has a front warehouse, community stores and other forms of business, in the channel and supply chain has an absolute advantage, and ultimately embodied in the price will have a certain competitive advantage.
Guohai Securities also pointed out in the research report, fresh food superstores and other new retail platform layout of prefabricated dishes usually choose OEM mode of operation (that is, OEM production mode), they enter the prefabricated dish industry has several advantages.
First of all, the penetration rate of C-end prepared food is still very low, but its main consumer group and the C-end consumer image of prepared food is high; secondly, the pre-positioning warehouse it laid also laid a better logistics foundation for prepared food; in addition, directly facing the end consumer, the accumulation of consumer data is more conducive to the insight of consumer preferences, accurate sales.
However, Guohai Securities also pointed out that this model also has certain disadvantages, mainly reflected in the labeling of the production of high quality control difficulties, and a single sales channel, limited to its own platform.
Now, around the battle of the prefabricated dishes is still continuing, this war without smoke is still attracting new players, the final market pattern how to evolve need to be left to time to give the answer.
This article originated from Blue Whale Finance
.