The 2012 China (Guangzhou) International Condiments and Food Ingredients Expo, hosted by the China Condiments Association, recently opened at the Guangzhou Jinhan Exhibition Center.

2023-10-31

   The 2012 China (Guangzhou) International Condiments and Food Ingredients Expo, sponsored by the China Condiments Association, recently opened at the Guangzhou Jinhan Exhibition Center. Nearly a thousand companies from home and abroad participated in the exhibition. The reporter learned from this expo that due to the impact of the economic environment, the growth rate of the condiment industry has slowed down. At present, industry segmentation is intensifying, high-end products are constantly emerging, and there is a rush for companies to go public.

 There are a wide variety of condiments in Guangzhou market. Photo by reporter Guo Ketang

Various new products unveiled at the expo

    At this expo, Bai Yan, vice president and secretary-general of the China Condiment Association, told reporters that at present, leading brands of condiment segment products are constantly emerging, and the market performance of small varieties of condiments has become active. Companies hope to establish differentiation strategies through Advantages, leading in the segmented fields.

    According to a reporter's investigation, in the condiment market, Haitian focuses on soy sauce, oil consumption, and sauces and relies on self-built production capacity to develop; Zhujiang Bridge controls a large number of small and medium-sized production companies and enters chicken essence, chicken powder, Pixian bean paste, chili sauce, etc. In multiple categories, companies are also constantly innovating and launching new products; Xinhe launched Heran organic soy sauce, and Lee Kum Kee launched instant dish sauces such as steamed fish soy sauce and black soy sauce chicken sauce; small variety products include Zhejiang Zhongwei's rice wine-type cooking wine and steamed fish cooking wine , sesame oil from Yanzhuang, Anhui, etc. Some companies hope to seize the market with a wide range of products. At this exhibition, the reporter saw the classic products "Heinz" and "Vista" in the entire Heinz Western-style sauce and Asian condiment family at the Heinz-Fuda booth. "," "Guanghe", "Jinma" and "Yiweiyuan" are five brands of dozens of condiments.

    In addition, at the 2012 China Condiment Industry Marketing International Forum, Yu Mingyang, a professor at the School of Management of Shanghai Jiao Tong University, said that the brand integration of condiments is currently intensifying.

High-end products are well received by the market

    Bai Yan said that the current reshuffle in the condiment industry is obvious, the industry concentration and industry concentration have further increased, and the output of high-end condiments with high added value is increasing year by year. In the past, the condiment industry has always appeared as a low-profit product with low added value, and corporate profit margins were generally low. Therefore, in recent years, some brand companies have begun to expand high-end brands in their product lines. On the one hand, they occupy the market space of condiments and enhance their sales. The company's brand image, on the other hand, improves the added value of products and increases profit margins.

    According to the reporter’s understanding, Xinhe’s June Fresh Soy Sauce, Lee Kum Kee’s Tiancheng Yiyi Soy Sauce, Fuji’s Xianka Soy Sauce, and Pearl River Bridge’s Royal Fresh Soy Sauce are all representatives of high-end products in the industry. High-end products are currently widely praised by the market. According to the relevant person in charge of Xinhe, Xinhe's "Follow Nature. Original Soy Sauce" series of high-end products such as Weidamei, Heran Organic, and Xianguan Vinegar have been widely praised by the market. In the near future, At the just-concluded 16th World Food Science and Technology Conference, Xinhe’s scallion companion June Xian stood out from the fierce competition of more than 3,000 industry representatives from more than 40 countries and regions around the world, and won the "Best Condiment Award" for Chinese condiments. IUFoST Global Food Industry Award” first gold medal.

    In the industry selection event held at this expo, Lee Kum Kee's new compound flavor fresh soy sauce "Spicy Shrimp" launched in August this year won the "Industry Product Innovation Award" issued by the China Condiment Industry Association.

Enterprises set off a craze for listing

    In recent years, the condiment market has been booming. Bai Yan revealed that after Jiajia, Haitian and Zhujiangqiao successively entered the capital market, setting off a craze for listings in the condiment industry, at least 10 condiment companies are currently actively preparing to go public. She said that at present, the capital structure upgrade of the condiment industry has entered a new stage. The real economy of the condiment industry will give full play to and expand with the advantages of the capital market. "The listing of enterprises will help development, in terms of product unit price, When gross profit margins are relatively low, if there are new investment projects and funds, it will be of great help to the rapid upgrading of products and the positioning of product marketing." Wei Xiangyun, executive vice president and director-general of the China Condiment Association, said that currently, on the whole, most listed companies of condiment companies are performing relatively well.

Expert view

Condiment companies should focus on adjusting product structure

    Wei Xiangyun, executive vice president and director-general of the China Condiment Association, said recently that under the background of economic downturn, the condiment industry has not been greatly affected because condiments are people's daily necessities and the current growth of the condiment industry The rate remains between 2% and 5%. Under this circumstance, condiment companies should not only seize consumption opportunities, but also adjust their product structure and make great efforts to improve the company's internal strength. Wei Xiangyun estimates that the output value of condiments this year is 125 billion, which is still 20% higher than last year's output value of 100 billion. There is still a lot of room for growth.

    Wei Xiangyun pointed out that condiment companies should pay attention to three issues at present: first, although the condiment market is growing, profit growth is not very large, and the problem of corporate profit decline is difficult to solve in a short time; second, corporate production costs have The rise, including labor costs and raw material costs, are on an upward trend; the third point is that on the basis of food safety, enterprises must innovate, including marketing models and employment mechanisms.

Source: China Daily.com