Core Viewpoint - The self-heating hot pot market in China is experiencing a shift from rapid growth to refined operations, focusing on product innovation, quality enhancement, and market expansion to meet consumer demands. The market size is projected to grow, but at a slower rate compared to previous years [1][21]. Group 1: Industry Overview - Self-heating hot pot is a convenient fast food option that does not require cooking utensils or hot pot base, making it more economical and easier to consume than traditional hot pot [2][4]. - The hot pot industry is one of the three main pillars of China's catering industry, significantly driving overall consumption in the market [4][6]. - The market size of China's hot pot industry is expected to reach 748.9 billion yuan in 2024, a growth of 7.71% from 2023, with self-heating hot pot accounting for approximately 18 billion yuan, or 2.40% of the total market [6][21]. Group 2: Market Dynamics - The self-heating hot pot market is projected to grow to approximately 21.5 billion yuan by 2025, increasing its market share to about 2.69% [6][21]. - In 2024, self-heating hot pot ranked first among self-heating food categories, capturing 44.87% of consumer purchases [8]. - The industry is characterized by a diverse competitive landscape, with numerous brands entering the market, including traditional hot pot companies and established snack food brands [14][17]. Group 3: Industry Chain - The self-heating hot pot industry chain includes raw material supply, production processing, brand operation, and sales channels, with e-commerce accounting for over 60% of sales [10][12]. - The cost structure indicates that raw materials account for 40%-50% of total costs, with meat being the most significant expense, particularly beef, which constitutes about 30% of costs [12]. Group 4: Future Trends - The rise of the "lazy" consumer and the growing trend of home-based consumption are propelling the popularity of self-heating hot pots [20]. - As the initial excitement in the industry wanes, companies are shifting towards more sophisticated operational strategies to sustain growth and meet evolving consumer preferences [21].