American hot sauce has been hidden in China for 30 years, earning more than 30 billion yuan a year, but it is mistaken for domestic goods
Recommendation: The latest statistics of the Condiment Association in 2020 show that last year, the domestic condiment output exceeded 14.92 million tons, and the data released by relevant research institutions showed that China's condiment market exceeded 300 billion, and is currently in a state of steady growth.
In the field of chili sauce, China's old dry mother is undoubtedly well-known, not only in the country to achieve the first sales volume in the industry, but also in foreign countries is the existence of the top name.
Lao Gan is known as the "light of domestic products", and has insisted on making hot sauce for many years. Tao Huabi, as the founder of Lao GanMa, has repeatedly said that Lao Gan Ma has four principles: "no loan, no financing, no equity participation, and no listing". With these 4 points, let people believe that the old mother can go farther and farther.
On the other hand, because of the reasonable price and large portions, the ingredients used have become a kind of national sauce, whether it is a star hotel chef or a housewife, lao ganma is an indispensable condiment in their kitchen.
But globally, there is a hot sauce brand from the United States that is much hotter than Lao Gan Ma, and it is delicious.
In fact, when you shop in the supermarket, you will find that in addition to lao gan ma, there are many brands of hot sauce. Although there is a hot sauce that is not as famous as the old dry mother in China, it belongs to the "silent fortune" type. It has been "lurking" in China for 30 years, and its annual revenue has reached more than 37 billion yuan, and it is the "chili sauce" of the United States - delicious.
Many Chinese people actually do not know its origin, but he is an enterprise with a history of development for hundreds of years, and the company's business is not limited to hot sauce brands, as well as industry, exports, etc., but its condiments are the most famous in the market at present.
In 1989, McCormick officially entered the Chinese market, at first its best is not hot sauce, until the acquisition of a spice company, it officially entered the condiment industry, found a huge opportunity in the condiment market.
So how big is the market share of McCormick? It is reported that McCormick occupies nearly 20% of the market share in the global condiment market, which shows that China's old dry mother and he are not a heavyweight player at all.
In fact, when we usually eat at McDonald's, KFC, Pizza Hut, Starbucks and other places, the various spice packs used are from the hands of Delicious Beauty, and the products cover various series of "sour, sweet and bitter", which is why it can greatly surpass the old dry mother, because its product variety is also very rich.
The reason why delicious hot sauce can compete with Lao GanMa in China is also to follow its consistent "differentiated" competitive strategy. In terms of taste, the spicy sauce of The Delicious Is moderate, but it has a little sweetness, and with this unique taste, it makes the Delicious Hot Sauce have a lot of fans in China.
In fact, it is not uncommon for foreign giant enterprises to "lurk" in China as "latent" as McCormick, such as the grain and oil brand Arowana peanut oil on the market, the daily necessities brand Procter & Gamble, etc. They are often mistaken for domestic goods because they have been rooted in the Chinese market for many years, and unconsciously, they have made Chinese money, making people have to serve.