——野火烧三好鸡翅解决方案 餐饮供应链研究报告 2025年8月 烤串消费需求持续攀升，但标准化不足与高人工依赖制约 品牌扩张 近年来，我国烤串市场规模持续扩张，从2021年的1,128亿元增长至2024年的1,540亿 元，年均增速达到了 12.2%，预计2025年有望突破1,600亿元 与此同时，2025年以来全国烤串门店数整体上呈现出增长趋势。据红餐大数据，全国烤 串门店数由2025年1月的29.2万家波动性增长至同年6月的30.7万家 2021—2025年烤串市场规模情况 1,128 1,176 1,410 1,540 2.5% 4.3% 19.9% 9.2% 7.8% 0 500 1,000 1,500 2,000 2,500 2021年 2022年 2023年 2024年 2025年E 单位：亿元 市场规模 同比变化 29.2 30.5 29.9 30.0 30.3 30.7 28.0 28.5 29.0 29.5 30.0 30.5 31.0 1 月 2 月 3 月 4 月 5 月 6 月 门店数（万家） 2025年1—6月全国烤串门店数 1,660 虽然烤串赛道的市场规模持续增长，但烤串赛道的连 ...

餐饮行业 产品上新报告（2025年6月） 2025年7月 2025年6月，从茶饮品类的新品成分元素细分类别来看，除了柠檬、百香果等经典水果和水蜜桃、青提、西瓜等时令 水果外，荔枝、黄皮、杨梅等极具南方地域特色的当季水果成为创新主力。从咖饮品类新品的基底来看，咖啡液基底 是占比最高的基底，含咖啡液基底的新品占总数的66%；此外，在基底的组合搭配方面，同时含有咖啡液基底与其他 基底的新品数较多，远高于咖啡液基底与奶基底、咖啡液基底与茶基底等组合搭配的新品数 2025年6月，红餐产业研究院新品监测的范畴包括西式快餐、粉面、茶饮、咖饮、面包烘焙、火锅这六大赛道，监测 品牌样本量共330个，2025年6月共有177个品牌推出新品，占监测品牌样本量的53.6%。从六大品类的新品数量来看， 西式快餐、粉面、茶饮、咖饮、面包烘焙、火锅这六个品类的新品数量总共为785款，环比下降了14.1% 2025年6月，从西式快餐品类的新品细分类别来看，甜品甜点类的新品数量最多，占比达24.2%；从堡卷类、比萨类、 炸鸡鸡排类以及小食类的新品创新点来看，新品创新主要集中在馅料和风味方面，以食材融合、本土风味创新为核心 亮点。从粉面品类的新 ...

Investment Rating - The report indicates a positive investment outlook for the restaurant industry, with a significant increase in the national restaurant prosperity index from 94.7 in April to 104.2 in May 2025, reflecting a 10% month-on-month growth [7][8]. Core Insights - The restaurant industry is experiencing a robust recovery driven by holiday consumption, with increased foot traffic and sales during May due to various celebrations [6][7]. - New product launches are thriving, particularly in Western fast food and tea beverages, showcasing regional flavors and innovative ingredients [12][22]. - The expansion of restaurant brands is notable, with both domestic growth and international market entries being actively pursued [41][45]. - Investment activities are stabilizing, with several financing events and IPOs occurring in the restaurant sector, indicating a healthy investment climate [48][52]. Summary by Sections 1. Restaurant Industry Prosperity Index - The national restaurant prosperity index rose to 104.2 in May 2025, a 10% increase from April, driven by holiday spending and seasonal demand [7][8][9]. 2. New Product Launches - In May, 45 Western fast food brands launched 121 new products, an 8% increase from the previous month, with a focus on regional flavors [13][14]. - The tea beverage sector saw 64 brands introduce 242 new products, with fruit tea leading the market and a notable increase in health-oriented ingredients [22][23]. - The bakery segment introduced 237 new products, with cakes being the most popular category, driven by Mother's Day and the upcoming Dragon Boat Festival [31][32]. 3. Opening Situations - Domestic brands are actively expanding, with notable openings such as Luckin Coffee's Brazilian coffee-themed store and Haidilao's first crispy fish-themed restaurant [45][46]. - International expansions include the opening of tea brands in Europe and Southeast Asia, indicating a strategic move towards global markets [45][46]. 4. Investment, Mergers, and IPOs - The report recorded four financing events in May, with a focus on downstream restaurant brands, and three companies indicating IPO plans [48][49]. - Notable IPOs include the successful listing of沪上阿姨 and海天味业, highlighting the growing interest in the restaurant sector [52][54]. 5. Major Events in the Restaurant Industry - Key developments include McDonald's stable performance in China, the launch of new themed stores by various brands, and strategic partnerships aimed at expanding market reach [57][61]. - Regulatory updates are also noted, with new legislation aimed at enhancing food safety and protecting traditional dining cultures [61]. 6. Red Restaurant Index Top 100 - The top three brands in the Red Restaurant Index for May 2025 are Haidilao, KFC (China), and Luckin Coffee, reflecting their strong market positions [66][70].

Investment Rating - The report does not explicitly provide an investment rating for the restaurant industry. Core Insights - The report highlights a significant increase in new product launches across six major categories in the restaurant industry, with a total of 896 new products launched in April 2025, representing a month-on-month growth of 55.8% [5][12][14]. Summary by Sections Overall New Product Overview - In April 2025, 174 out of 329 monitored brands launched new products, accounting for 52.9% of the sample [11][12]. - The new product count across six categories showed positive growth, with the highest increase seen in the noodle category, which surged by 118.6% [14][33]. Western Fast Food - In April, 19 Western fast food brands introduced 112 new products, marking a 93.1% increase from March [13][26]. - The most common new product categories included pizza and light meals, each accounting for 17.0% of the new launches [17][26]. Noodle Products - A total of 94 new noodle products were launched by 24 brands, with a remarkable increase of 118.6% compared to March [33]. - The most prevalent new product category was soup noodles, which made up 25.5% of the new launches [32][33]. Tea Drinks - 55 tea brands launched 183 new products in April, with fruit tea being the most popular category, accounting for 38.3% of the new launches [39]. - The price range for new tea products was primarily concentrated between 15 and 20 yuan per cup, representing 52.2% of the total [39]. Coffee Drinks - 23 coffee brands introduced 80 new products, with latte products being the most common, comprising 37.5% of the new launches [49]. - The focus on health-oriented products was evident, with many new offerings featuring low-sugar and low-fat attributes [49][50]. Bakery Products - 33 bakery brands launched 325 new products, with Chinese pastries leading the way at 33.5% of the total new products [60]. - The report noted a trend towards incorporating seasonal elements and floral flavors in new bakery items [58][60].

Investment Rating - The report does not explicitly provide an investment rating for the restaurant industry Core Insights - The report highlights a significant increase in new product launches across six major categories in the restaurant industry, with a total of 896 new products launched in April 2025, representing a 55.8% increase compared to March 2025 [11][12][13] - The monitoring of 329 brands revealed that 174 brands introduced new products, accounting for 52.9% of the sample [10][11] - The report emphasizes the innovation trends in various segments, particularly focusing on seasonal preferences and health-conscious options [20][21] Summary by Relevant Sections Overall New Product Overview - In April 2025, the total number of new products across six categories reached 896, marking a 55.8% month-over-month increase [11][12] - The brands monitored included 19 in Western fast food, 24 in noodle dishes, 55 in tea drinks, 23 in coffee drinks, 33 in bakery, and 20 in hot pot [9][10] Western Fast Food - 19 brands launched 112 new products, a 93.1% increase from March [12][24] - The most popular categories included pizza and light meals, each accounting for 17.0% of new products [16][24] - Innovations focused on flavor upgrades and healthier options, with a notable increase in regional flavor integration [25][26] Noodle Dishes - 24 brands introduced 94 new products, with a remarkable 118.6% increase from the previous month [31] - The most common new product categories were soup noodles and snacks, each representing 25.5% and 24.5% respectively [30][31] - Innovations included seasonal dishes and cold food options to cater to consumer preferences [29][31] Tea Drinks - 55 brands launched 183 new products, with fruit tea being the most prevalent category at 38.3% [37] - The price range for new products was primarily between 15 to 20 yuan per cup, accounting for 52.2% of the total [36][37] - The report noted a strong emphasis on refreshing flavors and the use of multiple fruit combinations in new products [38][41] Coffee Drinks - 23 brands introduced 80 new products, with a 35.6% increase from March [47] - The most common new product was the latte, making up 37.5% of the total [45][47] - Innovations focused on health-oriented options, including zero-sugar and zero-fat products [45][48] Bakery - 33 brands launched 325 new products, an 82.6% increase from the previous month [58] - The most significant categories were Chinese pastries and cakes, accounting for 33.5% and 32.9% respectively [58] - Seasonal elements and health-conscious ingredients were highlighted in the new product offerings [56][58]

Investment Rating - The report indicates that the investment rating for the Chongqing noodle industry is stable, reflecting a steady development phase and ongoing industrial upgrades [4][5]. Core Insights - The Chongqing noodle brand is adopting a diversified strategy while simultaneously enhancing its digitalization level [4]. - There is a need for brands to balance authentic flavors with standardized tastes, and to further expand sales channels [4]. Summary by Sections Overall Overview - The Chongqing noodle industry is in a steady development phase, with continuous upgrades in industrialization [5]. Development Trends - Brands in the Chongqing noodle sector are implementing diversified strategies and improving their digital capabilities [4]. Thoughts and Outlook - Brands should find a balance between maintaining authentic flavors and achieving taste standardization, while also working to broaden their sales channels [4].

Investment Rating - The report does not explicitly provide an investment rating for the restaurant industry Core Insights - The restaurant industry experienced a significant drop in the business climate index post-holiday, falling from 130.1 in January 2025 to 114.8 in February 2025, a decrease of 11.8% [8][9] - The decline in the business climate index is attributed to multiple factors including the end of the Spring Festival effect, reduced tourism consumption, and changes in consumer behavior [8][11] - New product launches in the restaurant sector are intensifying competition, particularly in tea beverages and baked goods, with a notable increase in innovative offerings [20][30] Summary by Sections 1. Restaurant Industry Business Climate Index - The business climate index for the restaurant industry dropped significantly in February 2025, indicating a return to normal consumption patterns after the holiday surge [8][9] - Key regions such as Beijing and Shanghai saw the most substantial declines, with decreases of 18.8% and 16.2% respectively, influenced by extreme weather and delayed resumption of work [11] 2. New Product Launches - In February 2025, 45 Western fast food brands launched 51 new products, focusing on flavor and ingredient innovation [21][22] - The tea beverage sector saw 113 new products launched, with milk tea leading at 39 products, reflecting a trend towards fruit-infused flavors [30][31] - The bakery segment introduced 181 new products, with cakes dominating the offerings at 56.9% of the total [38] 3. Opening Situations - The report highlights a trend of rapid expansion among restaurant brands, with new store formats being introduced in various cities [49][53] - Notable international expansions include the opening of a Japanese izakaya in Shanghai and a tea brand's first overseas store in Spain [54][55] 4. Financing, Mergers, and Acquisitions - February 2025 saw an increase in financing activities within the restaurant sector, with 11 recorded events, primarily involving restaurant service providers and brands [58][59] - The IPO of Gu Ming raised 1.813 billion HKD, indicating a positive trend in the market [63] 5. Major Events in the Restaurant Industry - Significant events include the confirmation of a pause in franchise openings by a major tea brand and the closure of several locations due to strategic shifts [70][71] - The report also notes the impact of rising international coffee prices on local brands, prompting price adjustments [70]

Investment Rating - The report does not explicitly provide an investment rating for the restaurant industry Core Insights - The restaurant industry in China is facing unprecedented challenges due to economic adjustments and changes in consumer behavior, leading to a significant compression of profit margins for restaurant businesses [6][10] - The report highlights a dual trend of short-term consumption downgrade and long-term consumption upgrade, indicating a shift in consumer preferences towards personalized and diverse dining experiences [40][43] - The competitive landscape is evolving, with chain brands expanding rapidly while niche restaurants gain popularity among specific consumer groups, prompting businesses to enhance their core competencies [6][10] Summary by Sections Macroeconomic Background - Economic adjustments are ongoing, with incremental policy effects gradually becoming apparent [7] - In 2024, GDP growth is projected to slow to 5.0%, with retail sales growth significantly declining to 3.5% [10] - Restaurant revenue growth is expected to drop sharply from 20.4% in 2023 to 5.3% in 2024, reflecting a broader economic slowdown [10] Current State of the Restaurant Industry - The industry is experiencing a misalignment of supply and demand, leading to a "dark moment" for restaurants [20] - High-cost pressures from labor and rent are forcing businesses to focus on cost reduction and efficiency [32][34] - The average price of dining has decreased, with the overall dining price dropping from 43.2 yuan in 2022 to 39.8 yuan in 2024, a decline of 6.6% [29] Consumer Dynamics - There is a notable shift in consumer behavior from quality-focused to practical spending, with a significant impact on mid-income groups [40][43] - The average number of family members is decreasing, leading to a rise in dining out, which is expected to stabilize demand for essential and self-indulgent dining experiences [45] - Consumers are increasingly favoring unique dining experiences over traditional social dining, with a growing preference for small, niche restaurants [51][56] Trends in Restaurant Operations - Cost reduction and efficiency enhancement are becoming core operational goals amid economic pressures [60] - The report outlines a "5S principle" for cost reduction, emphasizing smaller store models and flexible staffing to lower operational costs [62][66] - Digital tools and flexible staffing models are being adopted to improve efficiency and reduce labor costs by 15% to 25% [70] Supply Chain Trends - The trend towards downstream chain and scale operations is driving increased specialization in upstream supply chains [92] - The report emphasizes the importance of integrating supply chains to ensure quality and stability in food supply, particularly as the market evolves [92]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The future of the restaurant market in China is expected to show a "dual-driven" development trend, characterized by a focus on "cost-performance" and category innovation, leading to differentiated consumption patterns [3] - In 2024, the national restaurant revenue is projected to reach nearly 5.6 trillion yuan, with a year-on-year growth of 5.3%, and the number of restaurant outlets is expected to approach 8 million, with a chain rate increasing to 22% [3][9] - The report highlights five major development trends in the restaurant market: significant track segmentation, a strong "smoky" consumption atmosphere, continuous category integration, innovative scene-based marketing, and a burgeoning trend of going overseas [3][60] Summary by Sections 1. Overview of the Restaurant Industry - The restaurant industry is entering a phase of competition within a 5 trillion yuan market, maintaining strong vitality [6] - In 2024, the national restaurant revenue is expected to exceed 5.5 trillion yuan, showcasing resilience and contributing significantly to the consumer market [9][10] 2. Track Insights - The innovation and iteration of store models are accelerating, with upstream service providers supporting brand expansion and upgrades [30] - The restaurant brands are exploring diverse store models to meet various consumer needs, including satellite stores and theme-based designs [36][41] 3. Development Highlights - The market is returning to "freshly cooked" offerings, with brands emphasizing the "smoky" atmosphere in their innovations [66] - The report identifies five key highlights: track segmentation, a strong "smoky" consumption atmosphere, deepening category integration, innovative scene-based marketing, and an ongoing trend of international expansion [60][61] 4. Segmented Tracks - The fast food segment is expected to lead in growth, with a market size exceeding 1 trillion yuan and a year-on-year growth rate of 7.5% in 2024 [3][76] - The report notes that Sichuan cuisine, Cantonese cuisine, Jiangsu-Zhejiang cuisine, and Hunan cuisine are the top four in terms of store numbers, with Hunan cuisine showing the highest growth rate [80] 5. Trends and Conclusions - The main theme of "cost-performance" continues to deepen, while category innovation is expected to show "dual breakthroughs" [3][5] - The report emphasizes the importance of adapting to consumer preferences and market dynamics to seize new opportunities in the evolving restaurant landscape [3][60]

Investment Rating - The report does not explicitly provide an investment rating for the restaurant industry Core Insights - The report analyzes the product innovation trends in the restaurant industry, focusing on six representative segments: Western fast food, noodle dishes, tea beverages, coffee drinks, bakery, and hot pot [3][18] - In January 2025, a total of 530 new products were launched across these segments, reflecting a 39.0% decrease compared to December 2024 [11][14] - The slowdown in new product launches is attributed to the proximity of the Spring Festival, with 150 out of 329 monitored brands introducing new products, accounting for 45.6% of the sample [9][7] Summary by Relevant Sections Overall New Product Overview - In January 2025, the total number of new products across six categories was 530, down 39.0% from December 2024 [11][14] - The number of new brands launching products decreased across all categories, with the most significant drop in noodle dishes and hot pot, which saw declines of 46.5% and 40.0%, respectively [9][14] Western Fast Food - In January, 19 Western fast food brands launched 88 new products, with a focus on social and leisure-oriented items like pizza, desserts, and snacks [25][24] - Innovations primarily centered around filling and flavor, with 37.2% of new products focusing on these aspects [29][28] Noodle Dishes - The noodle segment emphasized a "slow-cooked" broth style, with 35.7% of new products falling into this category [33][33] - The main innovation focus was on toppings, which accounted for 50.0% of new product developments [33][33] Tea Beverages - Tea beverage innovations included a variety of categories, with milk tea products making up over 40% of new launches [37][36] - Key innovation areas were in ingredients, particularly the use of green tea (51.4%) and dairy products (92.0%) [41][45] Coffee Drinks - Coffee drink innovations were led by latte products, which comprised 60.3% of new offerings [53][52] - The focus was on milk bases and coffee liquid innovations, with significant use of high-quality coffee beans from various regions [58][60] Bakery - The bakery segment saw a rich variety of new products, with cakes being the most prevalent, accounting for 52.9% of new launches [73][72] - Many products were themed around the Spring Festival, emphasizing festive and auspicious elements [73][72] Hot Pot - Hot pot innovations were primarily in the area of side dishes, which accounted for 35.5% of new products, with a notable focus on desserts and beverages [75][74] - Brands are increasingly integrating desserts and drinks into their hot pot offerings to enhance the dining experience [75][74]