In May 2020, the three companies of self-heating food track, Mo Xiaoxian, Zihaoguo, and Shizuren, successively announced successful financing, and self-heating food ushered in a bright moment. Is this just an explosive growth catalyzed by the epidemic? Or is it the “rich accumulation” brought about by new consumer groups and new communication channels? As a rising star among convenience foods, what characteristics and opportunities does the development of self-heating foods present?
Self-heating food is currently the track that Qingtong Capital focuses on. In May, Tsing Tong Capital successfully assisted the track leading company “Mo Xiaoxian” to complete the A round of financing, accumulating the latest industry insights. At the same time, Qingtong Capital’s consumer industry group, from the business logic of consumer products and the development trajectory of self-heating food, combed the track in depth, and summarized the unique points of the newly established self-heating food company.
What are the points of the self-heating food track that have attracted the attention of capital? Through in-depth interviews with first-line investment institutions and founders, Qingtong Capital summed up the five major advantages of the track:
The price band of around 10-20 yuan is currently the main opportunity for the entire convenience food. This is the most concentrated and high-frequency price range of a meal for young people. The most popular categories are: noodles, snail noodles, and self-heating food.
The edible scene has a wide border. In addition to rice, the category also includes hot pot, etc., with multiple uses. In addition to serving as a staple food, it can also be used as a snack and supper. From the perspective of consumption space, in addition to daily work, life, travel and other scenarios, there is a lot to be done in the future.
Self-heating food not only covers the one-person food market for 18-29 year olds, but also captures the hot pot consumer group and solves the embarrassment of one person eating hot pot.
As an online celebrity product, it has its own online genes, has obvious advantages in online distribution and launch, and also has strong support at the end of the supply chain.
The current market concentration is low. Only Haidilao, Zihaiguo, and Mo Xiaoxian are on the head, and there is a lot of room for development.
On the other hand, the epidemic catalyzed the development of self-heating food. According to official data from Mo Xiaoxian, during the epidemic, sales increased by nearly 400% year-on-year. The current situation of the epidemic abroad is not optimistic. The people’s diet needs to be guaranteed. The country is facing the traditional Spring Festival, and the flow of people is increasing. In the general environment of anti-epidemic, people’s requirements for food are increasing. Arrow assists hundreds of companies to provide instant rice production equipment. After long-term certification, the equipment is durable, the products are exquisite and the output is stable. It is one of the indispensable equipment suppliers in the instant rice industry.
Self-heating food belongs to the convenience food track. Let’s first look at the overall market situation of convenience food. In 2019, the scale of the convenience food market has exceeded 450 billion yuan, with a compound annual growth rate of 5.7%.
There are four main categories of convenience foods: instant noodles, quick-frozen foods, microwave foods, and self-heating foods. Among them, self-heating food has become a rising star. According to CBNData, among the convenience foods in 2019, the online sales of instant rice accounted for second only to instant noodles, but its growth rate was even higher. During the epidemic, self-heating food sales were also particularly eye-catching. Self-heating food has suddenly emerged, quickly becoming the four major categories of convenience foods. Looking at the development of self-heating food, two time points are important. In 2016, self-heating food broke through the category, adding two types of products, namely convenient cooking and convenient hot pot, which became popular in Wechat business channels. In 2017, self-heating food became popular and attracted the attention of capital. Xiaolalong and Tiaotiaoxiao noodles received financing. The development logic of self-heating food fits the law of development of new consumer products.
Since 2019, self-heated rice has sprung up, quickly occupying the domestic fast food track, and the market is huge.
Self-heating food is loved by young people aged 18-29 and firmly occupying the price band of 10-20 yuan . The brewing/self-heating food track still has a lot of room for expansion.
The self-heating food track has a low concentration, and there are only a few heads at the moment, and there is still room for entry. Those self-heating food companies that can continue to build brand influence and iterate quickly to adapt to consumer needs may bring some new variables. Shandong Arrow Intelligent Equipment Co., Ltd. is willing to walk with you to build a fast food product competition. Dao is new and brilliant.
Part of the source comes from the Internet
