健康消费升级浪潮中，奶酪凭借 "高钙高蛋白" 的营养优势，一度成为食品赛道的风口品类。这一细分赛道的爆发潜力吸引诸多玩家扎堆入局，新品牌、 新融资消息接连不断，呈现出一派火热景象。然而，近两年来奶酪行业的"降温"信号愈发明显。头部品牌业绩波动、新锐企业增速放缓、黯然离场。 奶酪行业遇冷 众所周知，奶酪曾是一个大热赛道。随着国民健康意识和认知水平的双重提升，奶酪"营养浓缩""高钙高蛋白"的价值被发掘，使其在即食营养、餐饮工 业、家庭餐桌等细分领域迎来爆发式增长。在此之下，各路玩家也闻香而动。 彼时，一大批新生奶酪品牌争相涌现，妙可蓝多、奶酪博士、妙飞、爱氏晨曦、百吉福等多个中外品牌同台角逐。与此同时，投资机构也跑步进场，频繁 向初创品牌伸出橄榄枝，数百万元至千万元级别融资信息一波接着一波。 然而，今年上海市第三中级人民法院的公告，却让外界看到了奶酪赛道的另一面。9月8日，法院裁定受理上海酪神世家健康科技发展有限公司的破产清算 申请，并于10月23日召开了第一次债权人会议，这也意味着这家企业已走向终局。 事实上，近年来整个奶酪行业都在经历"降温"。据欧睿国际数据，2017年-2021年我国原制及再制奶酪市场销售规 ...

Core Insights - The article discusses the journey of Chai Xiu, who aimed to become the leader in the cheese market in China, successfully establishing her brand, Miaoke Landuo, but facing challenges from competitors and market dynamics [1][30]. Company Development - Chai Xiu started her business career in 1996, initially focusing on snack foods and later establishing Guangze Dairy, which became a leading brand in Jilin province with a market share of 90% [2][3]. - After recognizing the potential in the cheese segment, Guangze Dairy partnered with a French company in 2007 to acquire cheese production technology, marking its entry into the cheese market [4][5]. - In 2015, after years of preparation, Guangze Dairy made significant moves by acquiring companies and investing in advanced cheese production equipment, launching its first cheese product aimed at children [7][9]. Market Strategy - The company initially targeted lower-tier cities to build brand recognition before competing in major urban markets, avoiding direct competition with established foreign brands [10]. - A major marketing push in 2019, including high-frequency advertising campaigns, helped Miaoke Landuo capture significant market share, achieving a revenue of 12.26 billion yuan and a market share of 3.9% by 2018 [10][14]. Competitive Landscape - Following Miaoke Landuo's success, new competitors emerged, including Miaofei Foods and Cheese Doctor, both targeting similar market segments and employing aggressive marketing strategies [15][19]. - The competitive environment intensified, leading to price wars and increased marketing expenditures for Miaoke Landuo, which saw its marketing costs rise from 359 million yuan to over 1.15 billion yuan between 2019 and 2021 [20][21]. Financial Performance - Despite initial success, Miaoke Landuo faced declining market share and profitability due to increased competition and market saturation, leading to a significant drop in stock price and market value [22][23]. - In early 2025, the company reported a revenue of 12.33 billion yuan, a year-on-year increase of 6.26%, and a net profit of 823.97 million yuan, reflecting a strategic shift in its marketing and operational approach [24][25]. Future Outlook - The cheese market in China is projected to grow significantly, with the market size expected to exceed 300 billion yuan by 2025, driven by increasing consumer demand [29][30]. - Miaoke Landuo aims to maintain its leadership position in the expanding market, with ambitious revenue targets set for the next three years [27][30].