Hexian Group - the No. 1 brand of lotus root food in China in 2023
On March 28, Frost & Sullivan, the world's leading growth consulting agency, released China's first white paper on the lotus root industry at the 12th China Food Ingredients E-commerce Festival in 2024, analyzing the current situation and future development trend of China's lotus root food market and China's prefabricated food market. At the same time, at the event, based on the sales statistics of global and Chinese lotus root foods, Sullivan awarded the "No. 1 Brand of Lotus Root Food in China (in terms of sales volume in 2023)", "No. 1 in global lotus root food sales from 2013 to 2023", "No. 1 in sales of fragrant glutinous lotus root in China in 2023", and "No. 1 in sales of Lotus Root Food in China in 2023".
Sullivan conducted an in-depth study of China's lotus root market through desk research, in-depth expert interviews, and data cross-validation. According to the sales data of each lotus root food manufacturer in historical years, it is concluded that in 2023, Hexian Group will rank first in China in terms of lotus root food sales, fragrant glutinous lotus root sales and lotus root food sales, and the global lotus root food sales volume from 2013 to 2023.
Yang Xiaocheng, Partner and Managing Director of Sullivan Greater China, presented the market position confirmation certificate to the Holland Group
Founded in 1993, Hexian Group is a leading enterprise in the field of lotus root deep processing in China, focusing on providing high-quality lotus root food. As a national key leading enterprise in agricultural industrialization, Hexian Group is committed to building "the first brand of lotus root in China". Through the construction of lotus root central kitchen and continuous innovation and research and development, Hexian Group has continuously launched customized lotus root deep processing products, covering multiple series such as room temperature conditioning series and quick-frozen conditioning series, with more than 100 product categories, which are well recognized by the market and consumers. At the same time, Hexian Group has nearly 10,000 acres of production base and modern food processing plant, which realizes the control of the whole industrial chain from planting management to production and processing, and its products are sold to many countries and regions at home and abroad.
A review of the market background of China's lotus root food industry
With the continuous development of China's consumer market and people's increasing attention to healthy eating, the lotus root food industry is ushering in new development opportunities. As a traditional Chinese ingredient, lotus root has gradually become one of the popular categories in the food industry due to its rich nutritional value and diversified cooking methods. In recent years, the lotus root food industry has shown a development trend of branding, standardization and scale, and the market potential is huge. With the continuous innovation of technology and the upgrading of consumer demand, the lotus root food industry will usher in a broader space for development.
China's lotus root food industry has shown a booming development trend in recent years, thanks to consumers' increasing emphasis on healthy eating and a new understanding of traditional ingredients. As a traditional ingredient with a long history, lotus root is favored by consumers for its rich nutrients and diverse cooking methods. Lotus root is rich in carbohydrates, proteins, vitamins and minerals, which have the effects of clearing heat and relieving heat, strengthening the spleen and appetizing, moistening the lungs and relieving cough, etc., and is widely used in traditional Chinese food culture.
With the continuous development of China's economy and the acceleration of urbanization, people's living standards have improved, and the requirements for food quality and taste have also increased. This has prompted the lotus root food industry to continue to innovate and launch more diversified, high-quality products to meet the diverse needs of consumers. At the same time, with the popularization of the Internet and e-commerce, consumers' attention to food safety and brand trust is also increasing, which provides an opportunity for the branding and standardization of the lotus root food industry.
China is the main grower of lotus root, and its planting area and output are in the absolute leading position in the world. At present, China's lotus root cultivation areas are mainly concentrated in Jiangsu, Zhejiang, Hubei, Shandong, Hebei and other places, among which Hubei Honghu Lotus Root and Jiangsu Baoying Lotus Root are the most famous. The planting area of lotus root in China has reached more than 6 million mu. Hubei Province is the leader in the planting area and output of lotus root in China, with a planting area of more than 2 million mu, accounting for one-third of the total output of lotus root in the country. Jiangsu Province relies on Taihu Lake and other waters, and the total planting area of lotus root has reached 1.5 million mu, ranking second. The lotus root varieties planted in Hubei Province are mainly the Elian series, with a coverage rate of more than 85% in the country and more than 90% in Hubei, becoming the main variety of lotus root in China. The brand products of Baoying lotus root in Jiangsu Province include fresh lotus root, quick-frozen lotus root, lotus root powder, lotus leaf tea, lotus root juice drink, lotus root, fragrant glutinous lotus, seasoning side dishes, snack food and other products, which are rich and diverse, meeting the diversified needs of the market.
Source: Internet
Prefabricated dishes are becoming a new outlet for the lotus root food industry
Prefabricated dishes are becoming a new outlet for the lotus root food industry. In China's prefabricated vegetable market, it is mainly divided into two parts: B-end and C-end.
The B-end market shows a continuous growth trend, with the size of China's catering market increasing from 4.7 trillion yuan in 2019 to 5.3 trillion yuan in 2023, while the cost of catering ingredients accounts for about 41%, showing that prefabricated dishes have broad application prospects in the B-end market. It is expected that in the next few years, the scale of China's B-end prefabricated food market will further expand, from 2.2 trillion yuan in 2023 to 2.7 trillion yuan in 2028.
At the same time, the C-end market is also showing a continuous growth trend, with China's household food spending increasing from 9.1 trillion yuan in 2019 to 11.7 trillion yuan in 2023, and is expected to reach 14.4 trillion yuan in 2028. Referring to the 10% expenditure of Japanese households in the field of prepared food, it is expected that the C-end market of prefabricated dishes will reach 1.4 trillion yuan in 2028, showing huge market potential.
In the future, the prefabricated food industry will usher in more investment and competition in the B-end and C-end markets, and the industry competition will be more intense, indicating that the prefabricated food industry will become a new development focus of the lotus root food industry.
Source: The Sullivan Report
The prefabricated food industry is rapidly rising in China, and its development momentum is significantly faster than the growth rate of the overall catering industry. Driven by multiple factors such as the upgrading of residents' consumption, the industrialization of catering enterprises, the development of cold chain logistics technology and favorable policies, the prefabricated food industry is in a stage of rapid development. Forecasts show that by 2028, the growth rate of the prefabricated food industry will reach 13.1%, while the growth rate of the catering category will only be 5.2%. Although the current penetration rate of China's prefabricated food industry is only 12.0%, it has broad room for future development and is in the blue ocean of competition. In contrast, compared with developed economies, China's prefabricated food industry has not yet emerged leading enterprises, and the competition is relatively scattered, but with the rapid development of the industry, the prefabricated food industry is expected to usher in more integration and competition, forming a more mature and stable market pattern.
As a bright spot in the prefabricated food industry, lotus root food is ushering in huge development opportunities. Lotus root food has unique nutritional value and a wide range of application prospects, especially in China's food culture, lotus root is widely used in various dishes. With the rapid growth of the prepared vegetable market, the lotus root food industry has also developed rapidly. The rapid growth of the prefabricated food industry has brought more opportunities for lotus root food, and it is expected that in the next few years, the lotus root food industry will occupy a more important position in the market and become a major emerging outlet in the prefabricated food industry.
Source: The Sullivan Report