According to reports, the market size of condiments increased from CNY 192 billion in 2011 to CNY 286 billion in 2015 with the CAGR of about 8%. Generally, the sales revenue of condiments is increasing while the rate is declining, which may be influenced by the economic growth rate.
Major raw materials of the condiment industry are grains such as soybeans, corns and wheat while part of them is meat. Therefore, costs of condiment raw materials are closely related to prices of grains like soybeans. Overall costs of the condiment industry are increasing yearly including that of manpower and marketing.
The demand of consumers for condiments will be diversified with the improvement of consumption level and livelihood. Condiment enterprises can develop products specialized for various cuisine demands to increase the added-value. Meanwhile, the condiment market is regionally differentiated so enterprises can manufacture condiments accordingly.
According to the author, the annual growth rate of the condiment market size will remain over 6% from 2016 to 2020.
Key Topics Covered:
1 Relevant Concepts of Condiment Industry
2 Operation Status of Condiment Industry in China, 2011-2015
3 Competition Status of Condiment Manufacturing Industry in China, 2013-2015
4 Top 5 Condiment Manufacturers in China, 2013-2015
5 Analysis on Costs of Raw Materials and Retail Prices of Condiments in China, 2013-2015
6 Prediction on Development of Condiment Industry in China, 2016-2020
- Foshan Haitian Flavoring & Food Co., Ltd.
- Fufeng Group Limited
- Lee Kum Kee International Holdings Ltd. (China)
- Meihua Biological Technology Group Co., Ltd.
Shanghai Totole Food Co., Ltd.
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Related Topics: Condiments and Dressings