development and analysis of hot pot seasoning market

in 2017, china's catering industry was characterized by high-quality development of featured catering. as one of the featured catering industries, hotpot has been favored by tens of thousands of young people due to its diverse styles and tastes.

hot pot has become the first choice for friends' parties, family dinners, colleagues' parties, etc. on weekends and holidays.

in 2017, the total market revenue of hotpot catering industry is 436.2 billion yuan. in the next five years, the hotpot industry will expand rapidly with cagr of 10.2%. it is estimated that the industry scale will reach 707.7 billion yuan in 2022.

income trend of chinese hotpot catering industry in 2014-2022

data source: public data sorting

with the prosperity and development of hotpot catering industry, hotpot seasoning market has developed rapidly in recent years, and now it has become the second largest market segment of compound seasoning.

2017-2020 is the high-speed development period of hotpot condiment market. in 2017, the market scale of hotpot condiment is about 20.6 billion, with an annual compound growth rate of 15%. it is expected that the market scale will reach 31 billion in 2020, with a bright future.

income trend of chinese hotpot catering industry in 2014-2022

data source: public data sorting

a kind of

analysis on player concentration and market development of hot pot seasoning

the overall scale of hotpot industry is about 500 billion, and there is 125 billion market space in the industry chain excluding hotpot catering. the market size of hotpot industry is 400 billion, while that of catering industry is 4 trillion.

taking the haidilao industrial chain as an example, a number of high-quality enterprises are bred from the leading advantages. the business of enterprises in the industrial chain of haidilao starts from hotpot, but it never ends with hotpot. at present, it has been fully extended to other catering fields and has great influence.

hot pot seasoning can be divided into hot pot bottom material (80%) and hot pot dip material (20%), and the growth rate of bottom material is faster; the main consumption scenario is 2c family food + 2b restaurant food, each of which is about 10 billion.

thanks to the strong downstream demand, the consumption of c-end and b-end seasonings keeps growing

1) the penetration rate of the bottom material of 2b end packaging hot pot is increased, and the cake is continuously expanded:

low permeability has great potential. at present, hotpot stores mainly use self-made base materials, but with the increasing proportion of chain hotpot, in order to achieve standardization, safety and efficiency, more and more hotpot stores use packaging condiments. in 2017, 2b hot pot bottom material market was about 8 billion,

assuming that 60% of hotpot stores use packaging condiments, the b-end market of the base material is 26 billion yuan, and the current penetration rate is less than 20%.

? hotpot seasoning can be derived from other restaurants. hot pot seasoning is not only used in hot pot, but also derived to fragrant pot, spicy hot pot, etc.

2) the growing demand for 2c end hotpot condiments is caused by the sinking of e-commerce channels and the popularity of vegetable oil health hotpot.

hot pot bottom material and dip material market grow synchronously

data source: public data sorting

retail and catering are still the main channels of sales

data source: public data sorting

at present, cr5's market share is nearly 30%. in the future, the penetration rate of b-end restaurants will increase + the healthy medium and high-end products of c-end families will accelerate. the medium and high-end players will not only "cut cakes" to replace small brands, but also "make bigger cakes" to contribute to the increase. the market share will increase from 15% in 10 years to 26% in 17 years.

hot pot bottom material market cr5 accounts for 31%, more concentrated than hot pot

data source: public data sorting