China Business Intelligence Network News: Leisure food is a category of fast-moving consumer goods, with the improvement of living standards, leisure food has always been a food loved by the broad masses of the people. With the growth of residents' disposable income and the change of consumption concepts, healthy, safe, convenient and fast snack food is favored, and the leisure food industry has shown an upward development trend. The China Commercial Industry Research Institute expects that the market size of the mainland snack food industry will reach 1,520.4 billion yuan in 2022.
First, the industry competition pattern
At present, the mainland snack food industry is composed of sub-categories of nut fried goods, candy, chocolate and preserves, crispy snack food, bread, cakes and pastries, etc., which are composed of 10 billion yuan to 100 billion yuan, showing the characteristics of "large industry + small company". According to the data, the top five market share holders of mainland snack food are Want Want, PepsiCo, Three Squirrels, Huatai Food, and Good Shop, with a market share of 6.7%, 6%, 4.4%, 4.3%, and 3.2% respectively.
Source: Euromonitor, Compiled by China Commercial Industry Research Institute
Second, the operation of the enterprise
From the perspective of operation, in 2021, the three squirrels achieved operating income of 9.77 billion yuan, down 0.2% year-on-year; Net profit increased from $302 million in 2017 to $411 million in 2021.
Data source: Compiled by China Commercial Industry Research Institute
From the product point of view, in 2021, the three squirrels mainly engaged in nut snack food, with operating income of 5.058 billion yuan, an increase of 4.33% year-on-year, accounting for 51.8% of the main business income; followed by baked goods, operating income of 1.629 billion yuan, an increase of 0.97% year-on-year, accounting for 16.7% of the main business income.
Data source: Compiled by China Commercial Industry Research Institute
Third, the production and sales of enterprise products
Three Squirrels is a multi-brand company that covers mainstream channels, takes nuts as the core, and is based on health and digitalization. Affected by the epidemic in 2020, the output and sales of the three squirrels snack food have declined; with the effective control of the epidemic in the mainland, the production capacity will gradually recover in 2021, and the output and sales of the three squirrels will pick up in 2021. The data shows that in 2021, the output of snack food of the three squirrels reached 101,000 tons, an increase of 32.88% year-on-year; the sales volume reached 91,400 tons, an increase of 1.59% year-on-year.
Data source: Compiled by China Commercial Industry Research Institute
Fourth, the proportion of the top five customers
The data shows that the sales amount of the top five customers of the three squirrels in 2019-2021 gradually declined, and the sales of the first five customers in 2020 accounted for the highest proportion in the past three years, accounting for 78.52% of the company's total annual sales. The proportion of sales of the top five customers in 2021 decreased significantly; in 2021, the sales amount of the top five customers of Sanquan Foods reached 7.675 billion yuan, accounting for 69.52% of the company's total annual sales.
Data source: Compiled by China Commercial Industry Research Institute
Fifth, business layout
Three Squirrels is a multi-brand company with nuts as the core, based on health and digitalization, and has become a leading nut-based snack food brand in China, and has built a supply chain management system covering R&D, procurement, production, testing, warehousing, logistics and other full links. Successfully created a sales of more than 1 billion large single daily nuts, pecans, macadamia nuts, paper walnuts, hand-peeled badan wood, Shu xiang beef and other nearly 20 billion-level items.
Three squirrels originated from e-commerce, the current number of fans in the Tao family store reached 45.11 million, the number of fans in the Jingdong department store reached 66.32 million, the number of fans ranked first in the snack category, leading the leisure food industry fan list; for many years ranked first in the sales volume of snacks in the mainstream e-commerce channels in China, and the sales of double eleven have remained the first in the snack category for many years. At present, it has formed a three-dimensional sales channel covering e-commerce, distribution, stores and so on, and has developed from "online single channel" to "balanced development of online channel platforms and balanced development of online and offline omni-channel".
Sixth, the distribution of production bases
Source: China Commercial Industry Research Institute
For more information, please refer to the "Research Report on China's Leisure Food Market Prospects and Investment Opportunities" released by the China Commercial Industry Research Institute, and the China Commercial Industry Research Institute also provides industrial big data, industrial planning, industrial park planning, industrial investment and other solutions.