First, the overview of the curd milk industry
Curd milk, also known as milk curd, tofu milk, etc., has a history of more than 1800 years in China, together with tempeh, bean paste and soy sauce, known as China's four traditional fermented soy products, and won the reputation of "Chinese cheese". China's ancient land is vast, and the preferences and regional environments of different regions will also cause different processes and flavors of curd milk growth. To summarize it, it is roughly divided into the following categories.
Source: Compiled by Huajing Industry Research Institute
Curd milk contains a lot of protein, 35%-40% protein per 1009 soybeans, so it is called "the warehouse of high-quality protein". The rich amino acids contained in 100g of curd milk are enough to meet the amino acid requirements of an adult for a day. The special microbial fermentation process in the production of curd milk makes the ferment contain many volatile flavor substances, such as alcohols, esters and organic acids, and the fermentation also generates nutrients such as hydrolyzed proteins and free amino acids. The most important thing is that many nutrients are produced in tofu, which play an important role in the health of the human body. The fermentation process of curd also removes anti-nutritional factors such as diarrhea factors and gas-causing factors from soybeans, which makes curd more nutritious than tofu.
Source: Collation of publicly available information
Second, the analysis of the market situation of China's curd industry
At present, China's catering industry is in a stage of rapid development. In 2010, China's catering industry revenue was 1.76 trillion yuan, by 2019 China's catering industry revenue reached 4.67 trillion yuan, in 2020 by the impact of the new crown epidemic, China's catering industry revenue fell to 3.95 trillion yuan, down 15.4% year-on-year, although the epidemic has been effectively controlled in China, as of January-April 2021 China's catering industry revenue is 1.4 trillion yuan, an increase of 67.68% year-on-year, in the next few years, The main consumer group of China's catering industry will gradually shift to the post-80s-90s, which will further stimulate the demand of the catering market.
Source: National Bureau of Statistics, Compiled by Huajing Industrial Research Institute
In recent years, benefiting from the continuous improvement of people's living standards, as well as the rapid development of the catering industry and food processing industry, China's condiment industry has developed rapidly. From 2012 to 2018, the average annual compound growth rate of sales revenue of China's condiment and fermented products manufacturing industry was 8.53%, from 209.75 billion yuan in 2012 to 342.72 billion yuan in 2018, and is expected to exceed 370 billion yuan in 2019.
From the perspective of raw materials, in recent years, China's soybean production has grown rapidly, according to statistics, as of 2020, China's soybean production is 19.6 million tons, an increase of 8.3% year-on-year.
Well-known brands and types of curd milk in China
Related report: "2021-2026 China Curd Industry Development Monitoring and Investment Strategic Planning Research Report" released by Huajing Industry Research Institute
Third, the analysis of the competitive pattern of China's curd milk industry
At present, the main enterprises in the curd milk industry are Beijing Ershang Wang Zhihe Food Co., Ltd., Beijing Laocaichen Food Co., Ltd., Heilongjiang Kedong Curd Co., Ltd., Shaoxing Xianheng Food Co., Ltd. and Yunnan Yangquan Biotechnology Co., Ltd.
At present, the curd milk industry presents a competitive pattern in which national brands and local brands coexist, and long-established enterprises and rookie enterprises coexist, subject to different geographical climates and eating habits, and brands in different places usually do not constitute a competitive relationship. In North China, Wang Zhihe's market share of curd milk is higher; in East China, Xianheng shares have a higher market share.
Compared with the humus business income of China's listed enterprises, according to statistics, in 2020, the revenue of Zhu Laoliu's curd milk business was 217 million yuan, an increase of 35.6% year-on-year, and the gross profit margin was 37.65%; in 2020, the income of The curd business of Xianheng shares was 128 million yuan, an increase of 4.9% year-on-year, and the gross profit margin was 42.58%; Yangquan Biological was suspended from December 15, 2020, and the revenue of Yangquan Biological Humus Business in 2019 was 0.158 billion yuan, which was the same as that of 2018.
Source: Announcements of various companies, compiled by Huajing Industry Research Institute
Fourth, the analysis of the production process of curd milk
In the early days of development, that is, before the 1950s, curd was mainly produced in the form of small workshops. The production of curd milk is made by means of natural fermentation, known as the "traditional natural fermentation period", which is conducive to the fermentation of fermented white blanks by microorganisms in the environment. Although this production method is simple, there are many drawbacks. The bacteria in the environment are complex, the beneficial bacteria and pathogenic bacteria are mixed, and the quality of the curd produced is not guaranteed, and the quality is unstable. China began to study curd in the 1920s,: by the 1960s, pure-bred fermented fermented strains were widely promoted, and the production of curd began the "insulation and culture period of pure strains"; in the 1970s, scholars applied koji to the late fermentation of curd, shortening the cycle of late fermentation of curd, and curd production entered the "curd application fermentation period"; in the 1980s, more excipients were added to the late fermentation of curd. For example, rose curd milk and konjac curd have enriched the types and flavors of curd milk and enriched people's choices; in the 1990s, the curd industry ushered in a "biotechnology application period", which improved the flavor of curd milk and shortened the fermentation cycle of curd milk. The production process of curd milk is as follows:
Schematic diagram of the production process of curd milk
Fifth, the biologically active substances in curd milk and their health care functions
Curd is rich in bioactive substances, so it is of great significance for the study of the functionality of curd. Some creatures in curd milk
Active substances are inherent in soybeans, such as soybean protein, soybean phosphorus, soybean isoflavones, soybean saponins and dietary fiber, etc., but there are also some bioactive ingredients that are produced after the fermentation of microorganisms, such as soybean polypeptides and protein melanin.
Source: Huajing Industry Research Institute
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