Ken Research has announced its distribution on, “Overview of Gourmet Powder Industry in China, 2017-2021” which provides:
- Reasons behind developing environment of Gourmet Powder in China
- Production and Demand Status of Gourmet Powder in China
- Competition in Gourmet Powder Market in China
- Import and Export Status of Gourmet Powder in China
- Details about top Gourmet Powder Manufacturers in China
- Major Driving Forces and Market Opportunities in Gourmet Powder Industry in China, 2017-2021
- Threats and Challenges in Gourmet Powder Industry in China, 2017-2021
- Forecast on Supply and Demand of Gourmet Powder in China, 2017-2021
BUSINESS OUTLOOK
Gourmet powder is a sort of condiment and mainly made of glutamic acid which is mainly used to enhance the flavor of food and is largely used in soup and sauces in East Asian cuisine. It is produced by fermented method. This industry is a type of processing industry that uses starch and molasses as major raw materials.
Standard of living of people is improving with the stable development of Chinese economy. The rapid development of catering and food processing industry further stimulates the consumption of industrial and catering gourmet powder. With consumers paying more attention to flavors of food products, the consumption of household gourmet powder is also rising.
Overall, the demand for gourmet powder remains stable. According to a research, from 2011 to 2016, the annual demand remained over 2 million tons in China’s gourmet powder industry.
Gourmet powder industry has basically faced three tiers of restructurings. Entry barriers get higher due to government policies. Its annual growth rate remains constant, leading to fierce industrial competition and a oligopoly structure.
Fufeng Group, Meihua Biological Technology Group Co., Ltd., Ningxia EPPEN Biotech Co., Ltd., Lotus Health Industry Holding Group Company and Shandong Shenghua Group has accounted for more than 80% of the total annual output volume of gourmet powder in China in 2016.
China is the largest producer of gourmet powder in the world. The export rebate of gourmet powder increased from 0 to 13%, which was implemented on January 1, 2015 and promoted the import of gourmet powder in China. With the increasing export of Chinese condiment and fermentation products, the demand for gourmet powder is also expected to ascend.
Corns and coals take up the largest portion of the total cost in gourmet powder manufacturing in China. The cost of corns is steady while that of coals fluctuates much due to factors of economic cycles and market speculation.
Gourmet powder manufacturing industry faces increasing costs of environment protection and labor, the production costs and price of gourmet powder both portray an upward trend in China.
The downstream industries of gourmet powder are concentrated in food processing industry, catering industry and household consumption.
Because of the rising resident income, the consumption upgrading and also the nationwide saga about gourmet powder harmful to human health, the demand from catering industry and households for gourmet powder decreases, while the demand for soy sauce and chicken essence increases.
- In recent years, the demand of powder has risen following the boosting trend of consumption upgrading in catering industry and households. Also, condiments, like soy sauce and chicken essence, multiply rapidly, leading to an increasing demand for gourmet powder in food processing industry ultimately since the powder is a part of these products and further the demand of the gourmet powder is expected to rise with more and more people being concerned about the taste of the food they eat.
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Ken Research
Ankur Gupta,
Head Marketing & Communications
query@kenresearch.com
+91-124- 4230204
