Main listed company in soft drink industry: Chengde Lulu (000848.SZ); Quanyangquan (600 189.SH); Weiwei shares (600300.SH); Fragrant and fluttering (6037 1 1.SH); Yangyuan drink (603 156.SH); Junyao Health (605388.SH); Li Ziyuan (605337.SH); Happy Home (300997.SZ); Dongpeng Beverage (605499.SH); Master kong holdings (00322.HK); Nongfu Spring (09633.HK); Uni-President China (00220.HK); China Food (00506.HK); Water resources in Tibet (0 1 1 15.HK), etc.
The core data of this paper: the policy situation of soft drink industry in China; Supply and demand situation and price index of soft drinks industry in China; Regional Competition of Soft Drink Enterprises in China
General situation of industry
1, definition
According to the definition in the industry standard "Commodity Classification and Code of Circulation Industry-soft Drinks" (SBT11207-20 17) issued by the Ministry of Commerce in 20/7, soft drinks (soft
Drink) refers to natural or artificially prepared drinks with alcohol content below 0.5% (mass ratio).
The main raw materials of soft drinks are drinking water or mineral water, fruit juice, vegetable juice or extracts of roots, stems, leaves, flowers and fruits of plants, and some contain food additives such as sweeteners, acidulants, flavors, food pigments, emulsifiers, foaming agents, stabilizers and preservatives. Their basic chemical components are water, carbohydrates and flavor substances, and some soft drinks also contain vitamins and minerals.
2. Industrial chain analysis: including raw material supply and packaging, soft drink manufacturing and soft drink circulation.
The upstream link of the soft drink industry chain is the raw material supply and packaging link. The raw material supply mainly provides agricultural and sideline products and food additives necessary for making drinks, including vegetables, fruits and dairy products. Food additives include sweeteners, trace elements, acesulfame K, edible essence, edible pigment, etc. The middle reaches of the soft drink industry chain are soft drink manufacturing. According to different types of soft drinks, soft drinks can be roughly divided into bottled (canned) drinking water, carbonated drinks, fruit juice, tea drinks and so on. The downstream link of the industrial chain is the circulation link, and the main sales channels are traditional channels, modern channels, catering channels and e-commerce channels.
After more than 40 years of development, China's soft drink industry has formed a product system with a wide variety of products and a huge number of brands. According to the product attribute categories, China's soft drink industry can be divided into the following market segments. Different products have their own unique attributes and meet the special needs of all kinds of people. No matter men, women and children, there are always their favorite products and brands.
Industry development process: local brands are growing.
The domestic soft drink market started in 1978, when Coca-Cola entered China. After several stages, such as initial stage, growth stage and high growth stage, the market scale and categories are constantly expanding, and now it has become one of the largest soft drink markets in the world. In the development of soft drink industry, local soft drink enterprises, such as Nongfu Spring, Master Kong and Ipoh, have been growing, and gradually have the ability to compete with international brands, firmly occupying the core position of China soft drink market.
Industry policy background: Strengthen the supervision of beverage safety.
Since 20 17, the State Council, the National Development and Reform Commission, the Ministry of Industry and Information Technology and other departments have successively issued development policies to support and standardize the soft drink industry, including reducing the waste of beverage packaging materials, strengthening beverage safety supervision, optimizing beverage product structure, etc.
Current situation of industry development
1, supply: the output of soft drinks has rebounded to the high level in recent ten years.
With the rapid growth of China's economy and the continuous improvement of the income level and consumption power of urban and rural consumers, the consumption demand of soft drinks has always been in a relatively fast growth stage. After many industrial waves such as carbonated drinks, bottled water, tea drinks, fruit juices, herbal teas and milk-containing drinks, the development of China's soft drink industry has also entered the "new normal" stage.
Drinks belong to the basic daily necessities of mass consumption, and the industry has the characteristics of rigid demand. However, in the past two years, with the continuous promotion of "de-capacity" in the manufacturing industry, the output of beverages has been declining. On the other hand, with the increasing concern of Chinese residents for health, the market demand for carbonated drinks has gradually declined. As a major product category in the soft drink industry, the decline of carbonated drinks industry has also led to a decline in the overall output of the soft drink industry.
According to the data of the National Bureau of Statistics, the output of soft drinks in China showed an increasing trend in 20 10-202 1 year, but the overall growth rate fluctuated and decreased. In 20 17-20 18, China's soft drink output declined, and recovered in 20 19. In 20 19, China's soft drink output was10.78 billion tons, a year-on-year increase of13.29. Affected by the epidemic in 2020, the output of soft drinks will be 1.63 billion tons; In 20021year, China's soft drink output rebounded to 1.83 billion tons, up by 12% year-on-year, and returned to the same high level of nearly ten years as in 20 16.
2. Demand: Under the new normal epidemic situation, the demand for soft drinks has rebounded.
As the second largest soft drink market in the world, China is second only to the United States, and the demand for soft drinks has been increasing in recent years. According to Euromonitor data, the sales of soft drinks in China increased year by year in 20 10-202 1 year, but the growth rate slowed down. During the epidemic in 2020, most shops were closed. Due to seclusion at home and the prohibition of social gatherings, people could not get together and celebrate with relatives and friends, and the sales of soft drinks fell by 3.4%. In 20021year, the sales volume of soft drinks in China was 88.305 billion liters, up by 4.3% year-on-year.
Note: Sales statistics include retail services and catering services.
3. Price: Energy drinks and ready-to-drink coffee have the highest average price.
From the comparison of the prices of major brands of soft drinks, it can be seen that the average price of packaged drinking water, as the lowest cost soft drink, is only 2.4 1 yuan/liter among several types of soft drinks; Energy drinks represented by Red Bull and ready-to-drink coffee represented by Nestle have the highest prices, with average prices of 20.60 yuan/liter and 19.78 yuan/liter respectively. Asian specialty drinks rank third, with an average price close to 10 yuan/liter, which is on the high side among soft drinks.
Note: The price comes from the price of Tmall Supermarket in August 2022, which is not an ordinary retail price; Average price = Tmall price/(quantity * specification), for reference only.
4. Import and export: the import and export scale of soft drinks rose sharply in 20021year.
According to the data of the General Administration of Customs of China, the export value of soft drinks in China continued to increase in 20 17-202 1 year. In 2020, affected by the epidemic, the growth rate of soft drinks export in China dropped to the lowest level, and then it quickly rose to 9.2% in 20021year, and the annual soft drinks export amount reached 225.8 1 billion yuan. In the first half of 2022, the export scale of soft drinks industry in China reached10.838 billion yuan, a year-on-year increase of 12.2%.
From 20 17-202 1 year, the import value of soft drinks in China continued to increase, and the growth rate fluctuated. In 2020, affected by the epidemic, the growth rate of soft drink import reached a low of nearly five years, only 7.2%, and then it rose sharply to 17.3% in 20021year, and the annual soft drink import amount was 129.6 1 billion yuan. In the first half of 2022, China imported 6.078 billion yuan of soft drinks, down 3.2% year-on-year.
According to the import and export data of China soft drink industry in 20 17-202 1 year, China's soft drink industry is mainly exported, but the import trend of soft drinks is on the rise. The trade surplus of China's soft drink industry has dropped from11706 million yuan in 20/7 years to 2002/kloc-. China's soft drink industry is gradually moving towards diversified development, and foreign manufacturers are also aiming at the huge market in China. In the future, more foreign soft drink brands will enter China, and the total import of soft drinks in China will continue to increase.
However, judging from the year-on-year changes in the trade surplus, the decline showed a decreasing trend. China soft drink manufacturers will continue to research and develop new products, improve the quality of soft drinks, and gain consumer recognition.
Industry competition pattern
1, Regional Competition: Soft drink enterprises are mainly distributed in Guangdong Province.
According to the enterprise database of China, by the end of August, 2022, soft drink enterprises in China were mainly distributed in Guangdong Province. By the end of August 2022, there were 4,746 soft drink enterprises in Guangdong, 2,378 in Jilin and 2 137 in Shandong.
2. Enterprise competition: Master Kong Holdings, Nongfu Spring and Uni-President China are the first echelon.
In the process of rapid development, the overall scale and brand influence of the soft drink industry in China are constantly rising. Soft drink industry can be divided into three competitive echelons according to the business income of enterprises in 20021year. Among them, enterprises with operating income greater than 20 billion yuan include Master Kong Holdings, Nongfu Spring and Uni-President China; Enterprises with operating income of 3-20 billion yuan include China Food, Dongpeng Beverage, Yangyuan Beverage, Weiwei Shares, Xiangpiaopiao, etc. The operating income of other enterprises is below 3 billion yuan.
Industry development prospect and trend forecast
1, industry development trend: soft drink products are developing towards innovation, health and high-end.
Under the background of personalized demand driven by consumers and diversified development of marketing means and channels, the life cycle of soft drinks in China has been greatly shortened, and more new products and categories will appear. With consumers paying more and more attention to health, soft drinks with reduced sugar, less sugar or even no sugar are becoming more and more popular. In addition, from the point of view of marketing methods, variety planting, cross-border marketing, creative interaction and other marketing methods and new online marketing models such as live broadcast with goods will become the choice of more and more enterprises and brands.
2. Market size forecast: It is estimated that the soft drink market in China will exceed 800 billion yuan in 2027.
In 20021year, the global soft drink market was hit repeatedly, the catering industry was closed, most supermarkets and shops were restricted, and the global soft drink market scale dropped sharply. China responded promptly to this disaster, quickly resumed economic operation, and the soft drink market also recovered quickly. Although the soft drink market still declined in 20021year, in the short term, with the control of the epidemic, the domestic soft drink market will rebound. At the same time, the change of consumers' consumption habits and demands drives the diversified development of soft drinks, and the domestic sales of soft drinks are rising. More and more consumers choose to consume soft drinks. In the long run, the soft drinks industry in China will continue to grow. Foresight predicts that by 2027, the market scale of China soft drink industry will exceed 800 billion yuan, reaching 8 105 billion yuan.
The above data refer to Foresight Industry Research Institute's Forecast and Analysis Report on Production and Marketing Demand and Investment of Soft Drink Industry in China.
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