CCGB(SZ:300138) Chan Ye Xin Xi Wang·2026-01-29 01:21Core Insights - Chili oil resin, a natural plant extract, is widely used in food processing, cosmetics, and biomedicine due to its coloring, preservative, and antioxidant properties. The food processing sector is the primary demand source, with increasing needs for stable spiciness and uniform flavor in ready-to-eat meals and compound seasonings. The market for chili oil resin is expected to grow, reaching a market size of 650 million yuan in 2024, driven by rising penetration rates and expanding application fields [1][10]. Industry Overview - Chili oil resin, also known as chili essence, is derived from chili peppers and contains over a hundred complex chemical substances, including capsaicin, proteins, pectin, polysaccharides, and chili pigments. It is a natural food ingredient and not an illegal additive, with a spiciness level starting from one million SHU [3][10]. Industry Chain - The chili oil resin industry chain consists of three segments: 1. Upstream: Chili cultivation, which is influenced by climate and soil conditions, primarily located in Sichuan, Guizhou, Hunan, and Hubei provinces. The planting area has remained stable at over 11 million acres, with a production exceeding 16 million tons from 2015 to 2023 [6][7]. 2. Midstream: Involves the extraction, refinement, and deep processing of chili oil resin [6]. 3. Downstream: Applications in food, pharmaceuticals, and cosmetics, with food industry being the largest segment, accounting for 46% of the market [10][11]. Market Size and Growth - The chili oil resin market in China is projected to reach 650 million yuan by 2024, with expectations of continued growth as penetration rates increase and application fields expand [1][10]. Competitive Landscape - Major companies in the chili oil resin industry include Morning Bio, Yasheng Group, Tianwei Foods, and others. Morning Bio holds a dominant market position, but faces competition from domestic peers and international brands [2][11]. Development Trends 1. Integration of Industry Chain: There will be a stronger collaboration between processing companies and chili cultivation bases, focusing on high-quality chili varieties and stable supply [14]. 2. Diversified and Globalized Market Demand: Demand will expand into non-food sectors like pharmaceuticals and cosmetics, while international markets will see increased exports as product quality improves [15]. 3. Increasing Industry Penetration: Currently, the penetration rate of chili oil resin in downstream sectors is below 1%, indicating significant growth potential as consumer preferences evolve [16].