乳饮2025 | 剥离、坚守、卷上游 新势力的“三盘棋”

Core Insights - The Chinese food and beverage industry is undergoing significant transformation in 2025, with traditional companies facing challenges such as channel restructuring, product upgrades, and public opinion crises, while emerging brands are rapidly rising through differentiated positioning, digital marketing, and supply chain strategies [1] Group 1: Yuanqi Forest - Yuanqi Forest has completed a strategic "slimming" by spinning off its dairy brand Beihai Pasture to focus on its core beverage categories, including sparkling water, electrolyte water, health water, iced tea, and milk tea [2] - In 2025, Yuanqi Forest achieved a 26% year-on-year growth in overall performance, significantly outpacing the fast-moving consumer goods (FMCG) industry average growth rate of 4.8% [3] - The company has invested 7.25 billion yuan in building six major factories, achieving an annual production capacity of 6.5 billion bottles of beverages by the end of 2024 [3] Group 2: Guozi Shule - Guozi Shule has announced its commitment to focus on the no-sugar tea segment and electrolyte water, despite a slowdown in the growth of the no-sugar tea market [5] - The brand has achieved a market share of approximately 3rd place in the no-sugar tea segment in China as of the first half of the year [6] - Guozi Shule has launched a new electrolyte water product line, which has quickly gained market share, reaching about 1.25% in September [7] Group 3: Renyang Yitou Niu - Renyang Yitou Niu is leveraging product innovation and deep market penetration to create a multi-tiered product matrix targeting children, families, and young consumers [9] - The company has established ten modern dairy farms and has a self-sufficiency rate of over 95% for its milk supply, ensuring stable quality and availability [10] - The overall liquid milk sales in China have seen a decline of 7.5% year-on-year from January to May 2025, with a further drop to 9.6% in June, indicating a challenging market environment [10]