First, the current situation of the jam industry
1. Output and market size
The retail scale of the jam industry has steadily increased, and the growth space is vast. As a fruit processing product, jam is stored for a longer time, transported more conveniently, and is rich in vitamins and dietary fiber, taking into account the needs of consumers' healthy eating concepts. In 2020, the retail scale of C-end chinese jam was 4 billion yuan, an increase of 18.8% year-on-year, and the scale growth rate cagr from 2014 to 2020 was 14.6%. Domestic jam production increased from 190,000 tons in 2014 to 300,000 tons in 2020, with a CAGR of 7.7%. According to the pre-increase announcement plan of Aipu shares, at present, domestic jam products are still mainly imported, there is a large demand for import substitution, and the global market for jam products will still maintain a steady growth rate of 3%-5% in the future, and the Chinese market will show a higher growth rate.
Source: Collation of publicly available information
Source: Collation of publicly available information
2. Market price
The concept of consumption drives the upgrading of product structure. With the improvement of people's health awareness and the improvement of consumption ability, the improvement of the quality requirements of the jam category has driven the upgrading of the jam product structure. Different from the past A-grade fruit supply to the fresh fruit market, the low-end jam production mode of b-grade fruit production jam, directly using A-grade fruit to make high-quality jam products with pulp has gradually increased. The jam category has also gradually become high-end, from low-end jams that were cheap in the past and used apples and citrus as raw materials to high-end jams that use durian, cherry, mango, cranberry, blueberry and other fruit raw materials. At the same time, with the increase in people's demand for healthy diets, low-calorie healthy jam products without added preservatives, sugars and colors have emerged. The upgrading of product structure has led to an increase in jam prices year by year, and the average sales price of jam has increased from 7458 yuan / ton in 2014 to 13333 yuan / ton in 2020, and the unit price growth rate of CAGR in 2014-2020 has reached 8.3%.
Second, the overall situation of the jam industry chain
Jam is a kind of sauce product made of fruit, juice or fruit pulp and sugar as the main raw material, through pretreatment, cooking, beating (or crushing), ingredients, concentration, packaging and other processes. As a widely used flavored food, jam can generally be used for Western cooking seasoning, meal spreading, and can also be used as a raw material in the baked goods industry.
Jam industry chain map
Source: Compiled by Huajing Industry Research Institute
With the popularity of bakery, pastries and other side foods and the rapid growth of the snack food market, the market capacity of baked food raw materials has been expanding. Jam is also a kind of baking raw materials, in recent years, jam in catering and household applications accounted for a gradual increase, in 2019 the food processing industry jam demand accounted for about 64%, catering and household consumption accounted for 36%.
Note: The outer ring is 2019 data
Third, the jam market pattern
1. Variety structure
In terms of consumption, at present, there are many types of jams in China, and ketchup accounts for the largest proportion of the overall consumer goods, reaching more than 50%; followed by applesauce, accounting for 21%; then strawberry jam, marmalade, accounting for 10% and 7% respectively.
Related reports: "2021-2026 China Jam Market Competition Strategy and Industry Investment Potential Forecast Report" released by Huajing Industry Research Institute;
2. Competitive landscape
From the perspective of competition pattern, China's jam industry market can be mainly divided into four echelons, of which the first ladder occupying the high-end market is mainly international brands, such as Shengtaoyuan, Weihaomei, Debao, etc.; domestic first-line brands rank in the second echelon, representing brands such as Hubei Xiangyuan, Cupie, Aximi, Baili, etc.; the fourth echelon is mainly a large number of domestic small manufacturer brands, with a small scale.
Competition pattern in China's jam industry
Fourth, the analysis of the prospects of the jam industry
1. Downstream demand drives the development of the industry
Strong terminal demand has led to industry expansion. Jams are diverse in form and versatile in taste, providing rich materials for the category development of downstream terminal products and catering to the development trend of modern industrial food. According to the company's pre-increase announcement plan, the annual demand for jam products in the baking market is 300,000 tons. In the dairy market, the annual demand for jam products from other local dairy companies, including Yili, Mengniu, Guangming and New Hope, has exceeded 300,000 tons. The demand for jam products in the chain beverage market is more than 10 times that of dairy products, and the overall market size is huge, with a total demand of nearly 4 million tons.
2, the industry barriers are high
Industry barriers come from stable supply chains, advanced processing technologies and standardization. 1) Stable supply of raw materials: blueberries, strawberries, cherries and other high-end jam raw materials mostly need to be imported from abroad through cold chain technology, and enterprises with an annual output of more than 10,000 tons need to reserve 3,000-5,000 tons of fruit, with large cost inputs and high requirements for cold chain technology. Moreover, the fruit production season is different every year and the time is limited, and it is difficult to buy when formulating the picking plan, and it is necessary to fully anticipate the market demand. 2) Achieve unified standardization: At present, more and more mixed fruit jams are rising, and different fruit raw materials need to achieve unified standardization in appearance and particle suspension state through the process, which is also the difficulty of the industry. 3) Zero added jam for high technical requirements: in the process of jam production, it is generally necessary to add thickeners, acidity adjusters, preservatives, pigments and other additives to ensure product quality. In addition to the addition of preservatives, the addition of sugar can also enhance the antiseptic ability of jam, and traditional jam production generally enhances the taste and ensures preservatives by adding additional sugar. Therefore, the processing process without additives and sugars increases the difficulty of preservatives of low-calorie healthy jams. The shelf life of zero-additive jam has been shortened from 1.5-2 years for traditional jam to 2-6 months, so zero-add jam has higher technical requirements.
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