Investment Rating - The investment rating for the industry is "Positive" and maintained [11] Core Insights - The clean label concept aims to simplify ingredient lists, reduce artificial additives, and enhance production transparency, allowing consumers to understand the natural attributes of food products, thereby building consumer trust [5][8] - The market for clean label products in China is expected to grow significantly, with a projected market size of approximately 96.5 billion yuan in 2024, accounting for about 3.31% of total food expenditure [5][9] - The clean label market is driven by short-term factors such as income levels and aging population, while long-term growth is influenced by education levels and policy advocacy [9][41] Summary by Sections Clean Label Market Overview - The clean label market is divided into raw materials and consumer products, with the raw materials market expected to reach approximately 406.9 billion yuan in 2024, and the consumer products market projected to be around 1.79 trillion yuan [28][35] - In 2024, the global clean label food consumption is expected to reach approximately 1.79 trillion yuan, with China's clean label food consumption at about 96.5 billion yuan, indicating significant growth potential [36][58] Factors Driving Clean Label Market Growth - Short-term growth is supported by rising income levels and an aging population, while long-term growth is driven by increased education levels and improved consumer awareness regarding food safety and health [41][52] - The clean label food expenditure ratio in China is projected to reach approximately 4.57% by 2028, with the overall food expenditure expected to reach 3.26 trillion yuan [63] Policy and Regulatory Developments - Recent policy changes in the seasoning and dairy sectors have introduced new clean label requirements, including stricter definitions of "zero additives" and regulations on the use of certain ingredients [70] - The regulatory landscape is shifting towards ensuring transparency and verifiability in food labeling, moving from a focus on safety to a focus on real, quantifiable standards [72]

Group 1 - Beijing is set to introduce quality management standards for pasteurized milk and refrigerated non-ready-to-eat dishes, with a 100% certification rate for quality management systems among large-scale food production enterprises [1] - The Beijing market supervision department is actively implementing measures to support high-quality development in food production, including a comprehensive quality safety enhancement action [1] - The food industry is experiencing an upgrade, with increasing consumer concern for nutritional health, prompting regulatory support for innovation in the entire production chain [1] Group 2 - Food production companies have raised concerns regarding the practical implementation of new food labeling regulations, particularly regarding ingredient composition and allergen identification [2] - The market supervision department is open to consultations from enterprises regarding the execution of new regulations and is organizing expert guidance for specific issues [2] - Beijing has achieved 100% staffing of food safety management personnel in production enterprises, with 489 food safety directors and 1,476 food safety officers appointed [2]