渠道巨变！中国零食行业的新机会到来

Core Insights - The Chinese snack industry, valued at over 1 trillion RMB, is experiencing a pivotal transformation driven by channel evolution, particularly the rise of discount snack stores, which are becoming key growth drivers [1][5][6] Market Overview - The market size of the Chinese snack industry is projected to reach 1.1 trillion RMB by 2024, but the annual growth rate is expected to slow to 2-3% from 2024 to 2027 [2][5] - The discount snack store channel is forecasted to continue its rapid growth, achieving a compound annual growth rate (CAGR) of 14% from 2024 to 2027, increasing its contribution to overall snack sales from 9.0% in 2024 to 12.5% in 2027 [6][11] Channel Dynamics - Traditional retail channels, such as supermarkets and grocery stores, are losing market share, while discount snack stores are emerging as a new battleground for brand growth [5][6] - Discount snack stores have expanded their store count from approximately 1,000 in 2020 to over 45,000 by mid-2025, with a projected ceiling of over 70,000 stores, indicating more than 30% growth potential [15][16] Competitive Landscape - The discount snack store market is currently dominated by two major groups: "Snack Busy Group" and "Wancheng Group," which together hold nearly two-thirds of the market share [16] - The average return period for discount snack stores has extended from about 1 year to approximately 2 years, reflecting increased competition and higher store density [17] E-commerce Trends - The influence of traditional retail channels is diminishing, with their sales share expected to drop from 80% in 2015 to 50% by 2025, while discount snack stores and e-commerce channels are gaining market share [18] - E-commerce growth is shifting towards content platforms, which engage consumers more effectively than traditional platforms, with 91.8% of respondents using content platforms daily [18] International Opportunities - Southeast Asia is emerging as a significant growth opportunity for Chinese snack companies, with a projected CAGR of 6% from 2024 to 2029, despite the market size being only 24% of China's in 2024 [22] Strategic Implications - Snack companies must adapt to structural channel changes by implementing robust product strategies, agile marketing plans, and consumer-oriented innovation cycles to avoid being outpaced by the rapidly evolving market [24]