Yellow Swan completed 600 million yuan of financing, refreshing the financing record of the egg industry

On January 26, Fengji Food Group Co., Ltd., a subsidiary of the egg brand Huang Swan, announced the completion of a 600 million yuan C round of financing, setting a record for the highest amount of egg brand financing in the field of basic ingredients in recent years.

According to public information, Fengji Food Group is a food enterprise specializing in high-quality egg production and egg deep processing business, and has a yellow swan raw egg brand. According to a market research data by Frost & Sullivan, in 2021, the brand will rank first in the country in terms of sales in the mid-to-high-end egg market.

Industry data shows that China is the world's largest egg producer and consumer, with an annual output of more than 31 million tons and a market size of up to 300 billion yuan. Among them, raw eggs are a new category that has only developed in recent years, due to the low degree of microbial pollution, it can be eaten raw directly, suitable for making loose eggs or with Japanese suki pots, which is favored by many consumers. Kantar's consumer index shows that the penetration rate of raw eggs users is now as high as 70%.

According to the relevant data of the "China Edible Eggs White Paper", the consumer group of high-end eggs in China is continuing to expand, and nearly 80% of consumers have purchased high-end eggs in the price range of 1.5 yuan / piece and above in 2020, of which raw eggs account for nearly half of the market share.

At present, Yellow Swan can eat raw eggs have been listed in more than 10 large and medium-sized cities such as Beijing, Shanghai, Guangzhou, shenzhen and Chengdu, Hangzhou, Nanjing and other channels, and launched fresh e-commerce platforms such as Hema, Jingdong, Tmall, Dingdong and so on.

The reporter noted that on the Dingdong buying platform, the brand's eggs are priced at 18.9 yuan, and 20 eggs are priced at 48.9 yuan, equivalent to about 2.4 yuan for 1 egg, while the single price of boxed eggs of ordinary brands such as Chia Tai and Deqingyuan is about 1.3 to 1.5 yuan, and the single price of fresh eggs and native eggs on the platform is less than 1 yuan.

Although the price is higher, the sales share of high-end eggs represented by raw eggs has also achieved rapid growth in the past year. According to Dingdong, there are currently 4 to 6 high-end egg categories on the platform, and sales in East China account for more than 15%. Among them, the sales volume of 8 sets of raw eggs of the Yellow Swan brand increased by 30% year-on-year, and the increase of 20 pieces increased by more than 50%.

In the view of Du Zonglin, a partner of Fengshang Capital, as the consumer demand for high-quality eggs from domestic households gradually increases, there will be a strategic opportunity for structural upgrading in China's egg industry, "from the traditional low-quality, low-price development model to high-quality and good price, and promote the industrial supply chain to reduce costs and increase efficiency." ”

Image source: Dingdong buy vegetable screenshot