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The collection of ‘Food
& Beverage’ market research reports has a new addition of “China Condiment Industry Report, 2013-2015”On chinamarketresearchreports.com . Being
optimistic about the prospect of Chinese condiment market, Danone, Nestlé,
Unilever, Hormel Foods, McCormick and other foreign companies through mergers
and acquisitions, direct investment or joint ventures have in succession
entered the Chinese condiment market. On January 4, 2013 Hormel Foods acquired
Unilever's Skippy? Brand Peanut Butter (including the facilities in Little
Rock, Arkansas, USA and Weifang, China) with US$700 million; on May 31, 2013
McCormick (Wuhan) Food Co., Ltd., a wholly-owned subsidiary of McCormick
completed the asset acquisition of Wuhan Yatai Seasoning Food Co., Ltd. with
US$147 million to get the latter's chicken essence brands "DaQiao"
and "ChuShiLe", making strong entry into Central China.
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Chinese condiment mainly refers to
soy sauce, vinegar and similar products, monosodium glutamate (MSG), etc.. In
2008-2012 Chinese condiment industry revenue grew at a CAGR of 17%, of which,
soy sauce and vinegar sector as the main driving force grew at a CAGR of 23%.
Benefiting from the household
consumption upgrade as well as the rapid development of catering industry and
food production, the Chinese condiment industry prior to 2015 is expected to
maintain a growth rate of above 20%. In 2013 Chinese condiment (including only
soy sauce, vinegar and the like, MSG) industry revenue climbed 21.8% YoY to
RMB131.19 billion.
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more on “China Condiment Industry Report, 2013-2015” report below.
Chinese soy sauce production
reached about seven million tons in 2012, a year-on-year increase of 3.7%; 6.1
million tons in January-October 2013, a year-on-year increase of 8.1%. In 2012
China's four major soy sauce brands by output – HaiTian, MeiWeiXian, Lee Kum
Kee and JiaJia accounted for total market share of 30.5%.
There are about 6,000 producers in
Chinese vinegar industry, represented by Jiangsu Hengshun Vinegar Industry Co.,
Ltd., Shanxi Shuita Vinegar Co., Ltd, Sichuan Baoning Vinegar Co., Ltd.,
showing low concentration, and will face great space for integration in the
future. Hengshun Vinegar Industry as China's largest vinegar producer annually
produces about 213,000 tons of vinegar, accounting for 7.1% of vinegar
production in China.
Chinese chicken essence industry
has a high concentration, embracing nearly 20 large-scale producers, with CR5
up to 68% or so. The industry is mainly monopolized by foreign companies such
as Switzerland-based Nestlé, the owner of HaoJi and Totole. Local Chinese
enterprise - Guangdong Jialong Food Co., Ltd. relying on unique chicken essence
recipe, inimitability and price competitiveness has occupied high market share
in the middle and top grade catering industry.
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