Investment Rating - The report does not explicitly provide an investment rating for the jelly industry Core Insights - The Chinese large cup mixed jelly industry has experienced rapid growth, capturing a significant share of the snack food market, particularly favored by the younger generation due to its diverse flavors and unique textures [4] - The market is characterized by a shift towards health-oriented products, with the proportion of healthy jelly options increasing from 12% in 2018 to 28% in 2023, driven by consumer demand for low-sugar and functional ingredients [7][10] - The competitive landscape is evolving, with established brands facing challenges from emerging and cross-industry brands that leverage innovation and differentiation strategies [28] Market Background - The large cup mixed jelly is defined as a product containing multiple flavors in a single large package, typically over 150 grams, made from ingredients like water, sugar, and konjac powder [5] - The industry has evolved through several stages, from its nascent phase in the 1980s to becoming the largest jelly market globally by the early 21st century, with a focus on health and personalization in recent years [6] Market Status - The market size reached 22.4 billion yuan in 2023, with a compound annual growth rate (CAGR) of 2.29% from 2018 to 2023, indicating steady expansion [7] - The demand is primarily driven by female consumers, who contribute over 65% of online sales, and the average price point for high-end products is between 15-25 yuan, with a repurchase rate of 60% [10] Market Competition - The competitive landscape is tiered, with leading brands like Xianzhibao and Crayon Shin-chan in the first tier, and brands like Hiyori and Qinqin in the second tier, each leveraging production capacity and innovation to maintain market share [15] - The evaluation of brands is based on product quality, brand strength, and technological capabilities, with a focus on natural ingredients and innovative production methods [11][14] Development Trends - Health innovation is becoming a consumer favorite, with a growing emphasis on low-sugar and natural ingredient products, leading to the adoption of advanced preservation technologies [26] - Personalization and premiumization are driving market trends, with brands collaborating with popular IPs and focusing on high-quality ingredients and unique flavor combinations to attract discerning consumers [27]