Investment Rating - The report does not explicitly state an investment rating for the food processing industry, but it highlights a stable growth trend in the meat semi-finished products market, which is projected to reach 165.6 billion yuan by 2025, indicating a positive outlook for investment opportunities in this sector [14][30]. Core Insights - The food processing industry, particularly the meat semi-finished products segment, is experiencing steady growth, driven by increasing consumer demand for convenience and the rising chain restaurant standardization [3][31]. - The report emphasizes the importance of flavor innovation as a key differentiator for food processing plants, which face challenges such as product homogeneity and flavor instability [63][64]. - The supply chain for the food processing industry has entered a 3.0 era, where companies are proactively capturing market demands and innovating products [3][9]. Summary by Sections 1. Development of Meat Processing Plants - The broad market for meat semi-finished products exceeds 150 billion yuan, with a growth rate of 7.5% expected in 2024 [14][30]. - The meat semi-finished products market is characterized by a well-developed supply chain and regional clustering, with B-end (restaurant) and C-end (consumer) demands driving growth [18][21]. - The market is projected to reach 165.6 billion yuan by 2025, with B-end customers accounting for over 80% of the market share [30][31]. 2. Development of Fresh Food and Baking Factories - Fresh food and baking factories play a crucial role in the supply chain but face challenges such as severe product homogeneity and insufficient innovation [3][9]. - Both types of factories are essential for providing convenience food products to retail and new retail channels [3]. 3. Flavor Trend Analysis in the Food Processing Industry - Consumer preferences are shifting towards fresh and spicy flavors, with regional flavors like Guizhou sour soup gaining popularity [3][58]. - The report identifies a growing trend for innovative flavor combinations, such as wood ginger ice cream and red oil ice cream, alongside tropical, cheese, tea, and nut flavors [3][58]. 4. Summary and Outlook - Flavor innovation is highlighted as a critical breakthrough point for food processing plants to differentiate themselves in a competitive market [3][63]. - The report suggests that food processing plants must enhance their product development capabilities to meet the evolving demands of the restaurant industry [3][9].