Seafood
The seafood segment focuses on various types of seafood, including but not limited to fish, shrimp, crab and shellfish, etc., and also covers seafood processing technology, cold chain logistics, food safety testing and other upstream and downstream technology and services.
In 2024, China's output of seawater products reached 37,088,700 tonnes, a year-on-year increase of 3.45%. Shenzhen, as an important city in South China, is endowed with unique marine resources and well-developed marine industries. The Shenzhen Municipal Government is committed to promoting the high-quality development of the marine economy and has introduced a series of policies to accelerate the construction of a competitive global marine central city. According to relevant data, the scale of Shenzhen's marine economy industry accounts for about 10% of the GDP of the marine production industry in 2019 and will grow at a rate of 30.9% in the first half of 2021.
The B-side of the aquatic industry has huge demand, more concentrated channels and relatively high customer stickiness. Aquatic wholesale market based on cost, freshness advantage, its product power, channel services become the key to maintain the stickiness. Chain restaurants and large supermarket chains test integrated services and scale production capacity, have a high demand for semi-finished products and the demand for product customization. B-side further reduce costs, conducive to occupy a larger market share.
In recent years, aquatic enterprises have actively strengthened C-side market penetration and expanded the influence of brands in the C-side consumer group. Products for the C-side are usually in small packages, and compared with the B-side, the C-side publicity effect is more critical, and the gross profit margin is generally higher. Enterprises should build their competitive advantages in terms of products, supply chain and channels.
Quick-frozen food refers to packaged food that is kept at -18°C or lower by quick-freezing method, using cold chain.
According to iiMedia Research, China's frozen food market has been expanding, and the market size of China's frozen food market has reached RMB183.54 billion in 2023 and is expected to reach RMB213.09 billion in 2025. Consumers are more concerned about shelf life and freshness when buying frozen food, and convenience is the main reason for consumers to buy frozen food; additives (55.1%) and hygiene (43.6%) are the most important concerns of consumers about frozen food; and consumers most hope that the taste of frozen food can be more diversified (47.8%), and to improve the price-performance ratio of products (46.4%).
In the past, the dietary structure in China was a traditional pattern based on staple foods, supplemented by vegetables, legumes and meat. With the improvement of income level, people's consumption ability has enhanced. Protein and fat intake gradually increased. Meat, poultry, eggs, milk and other high-protein food intake has increased dramatically. The reasonable combination between food and nutritional balance has become the new dietary pursuit of people. Frozen food, because of its convenience and nutritional retention advantages, now meets the needs of people in the fast-paced life of fast but healthy diet.
*Reference:《2024年全国渔业经济统计公报》《粤港澳大湾区海产品交易中心开业 助推珠海海洋经济高质量发展》《中国海洋经济产业深度调研与投资战略分析报告》《2023-2024年中国水产行业现状及消费趋势洞察报告》《2024年中国速冻食品消费趋势洞察研究报告》