Core Insights - The light food industry is characterized by a well-defined supply chain, with upstream suppliers focusing on packaging, equipment, and raw materials, while the midstream includes various light food products, and downstream sales channels encompass e-commerce, delivery platforms, and physical stores [1][2]. Industry Overview - The upstream of the light food industry includes suppliers such as 富岭股份, 南王科技, 海容冷链, and others, providing packaging, equipment, and raw materials [2]. - The midstream features key players like 奈雪的茶, 三只松鼠, and 良品铺子, which supply a range of light food products [2]. - The industry is concentrated in economically developed regions of China, where consumer markets are active and the supply chain is well-supported [4]. Company Performance - In 2024, 奈雪的茶 is expected to have significant sales of light food products with a strong cost-performance ratio, while 三只松鼠's sub-brand is seeing impressive single product sales [7]. - 康比特's sports nutrition packages are performing well in terms of sales and repurchase rates, and 西麦食品 leads in market share for instant oatmeal on Douyin [7]. Recent Developments - In 2025, 奈雪的茶 launched the "No Sugar Natural Nutrition+" initiative, introducing new light food products and establishing over 30 "奈雪 Green" light food stores in major cities [9]. - 三只松鼠 introduced a low-fat, high-protein meal replacement snack, while 良品铺子 launched a non-fried, reduced-fat crispy biscuit [9]. - 百合股份 targeted women with new product lines, and KEEP initiated collaborations to promote a "food and exercise" approach [9].

Core Viewpoint - The article highlights the health upgrade initiative in the ready-to-drink tea industry, led by Nayuki, which emphasizes natural nutrition and low sugar content in response to changing consumer demands and government health policies [1][5][6]. Group 1: Health Upgrade Initiative - Nayuki launched the "No Sugar Natural Nutrition+" plan in collaboration with the Ministry of Agriculture and Rural Affairs and nutrition experts, marking a shift from "sugar reduction" to "natural nutrition+" in the tea beverage sector [1][3][8]. - The initiative aims to align with the "Balanced Diet Pyramid" concept from the 2022 Dietary Guidelines for Chinese Residents, promoting products that are both tasty and nutritious [13][19]. Group 2: Consumer Demand and Policy Influence - There is a significant transformation in consumer preferences towards healthier beverage options, with a growing emphasis on nutritional content rather than just taste [5][6]. - The implementation of health policies, such as the "Healthy China Action (2019-2030)," has heightened public awareness of health, influencing the ready-to-drink tea market to prioritize health attributes [5][6]. Group 3: Product Innovation and Market Response - Nayuki introduced several new products under the "No Sugar Natural Nutrition+" plan, including the "Daily Fruit and Vegetable Bottle" and "Fruit and Vegetable Yogurt Smoothie," which have received positive feedback from nutritionists [13][15][17]. - The market response has been favorable, with a 35% year-on-year increase in average store orders in May and a staggering 480% increase in orders during the Dragon Boat Festival [21][22]. Group 4: Brand and Industry Transformation - Nayuki's health upgrade is not just a product refresh but a comprehensive reconfiguration of its brand value system, focusing on health and nutrition as core elements of its identity [21][26]. - The company is transitioning from a single product innovation focus to a holistic approach that encompasses product, brand, store, and service, driving the industry towards a "nutrition+" direction [24][26].