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1、 China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1 MarketLine Industry Profile Ice Cream in China January 2013 Reference Code: 0099-0121 Publication Date: January 2013 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS A LICENSED PRO
2、DUCT AND IS NO T TO BE PHOTOCO PIED China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2 EXECUTIVE SUMMARY Market value The Chinese ice cream market grew by 8.5% in 2011 to reach a value of $6,707.8 million. Market value forecast In
3、 2016, the Chinese ice cream market is forecast to have a value of $9,704.2 million, an increase of 44.7% since 2011. Market volume The Chinese ice cream market grew by 6.7% in 2011 to reach a volume of 1,659.5 million liters. Market volume forecast In 2016, the Chinese ice cream market is forecast
4、to have a volume of 2,191.3 million liters, an increase of 32% since 2011. Category segmentation Impulse ice cream is the largest segment of the ice cream market in China, accounting for 69.9% of the markets total value. Geography segmentation China accounts for 43.2% of the Asia-Pacific ice cream m
5、arket value. Market share Inner Mongolia Yili Industrial Group Co., Ltd. is the leading player in the Chinese ice cream market, generating a 17.5% share of the markets value. Market rivalry The Chinese ice cream market is generally a high volume and low margin sector, facilitating rivalry. China - I
6、ce Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3 TABLE OF CONTENTS Executive Summary2 Market value 2 Market value forecast.2 Market volume.2 Market volume forecast .2 Category segmentation2 Geography segmentation 2 Market share2 Market r
7、ivalry .2 Market Overview .7 Market definition7 Market analysis .7 Market Data8 Market value 8 Market volume.9 Market Segmentation .10 Category segmentation10 Geography segmentation 11 Market share12 Market distribution 13 Market Outlook 14 Market value forecast.14 Market volume forecast .15 Five Fo
8、rces Analysis 16 Summary 16 Buyer power.17 Supplier power 18 New entrants .19 Threat of substitutes.21 Degree of rivalry22 Leading Companies23 China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4 Fraser and Neave Ltd. .23 Inner Mong
9、olia Yili Industrial Group Co., Ltd. 26 Nestl SA .29 Unilever 33 Macroeconomic Indicators.36 Country Data .36 Appendix.38 Methodology 38 Industry associations39 China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5 LIST OF TABLES Tab
10、le 1: China ice cream market value: $ million, 200711 8 Table 2: China ice cream market volume: million liters, 200711.9 Table 3: China ice cream market category segmentation: $ million, 2011 10 Table 4: China ice cream market geography segmentation: $ million, 2011 11 Table 5: China ice cream marke
11、t share: % share, by value, 2011 .12 Table 6: China ice cream market distribution: % share, by value, 2011 13 Table 7: China ice cream market value forecast: $ million, 201116.14 Table 8: China ice cream market volume forecast: million liters, 201116 .15 Table 9: Fraser and Neave Ltd.: key facts 23
12、Table 10: Fraser and Neave Ltd.: key financials ($) .24 Table 11: Fraser and Neave Ltd.: key financial ratios.24 Table 12: Inner Mongolia Yili Industrial Group Co., Ltd.: key facts.26 Table 13: Inner Mongolia Yili Industrial Group Co., Ltd.: key financials ($).26 Table 14: Inner Mongolia Yili Indust
13、rial Group Co., Ltd.: key financials (CNY) 27 Table 15: Inner Mongolia Yili Industrial Group Co., Ltd.: key financial ratios27 Table 16: Nestl SA: key facts29 Table 17: Nestl SA: key financials ($) .30 Table 18: Nestl SA: key financials (CHF) .31 Table 19: Nestl SA: key financial ratios.31 Table 20:
14、 Unilever: key facts .33 Table 21: Unilever: key financials ($).34 Table 22: Unilever: key financials ().34 Table 23: Unilever: key financial ratios34 Table 24: China size of population (million), 200711 36 Table 25: China gdp (constant 2000 prices, $ billion), 200711 .36 Table 26: China gdp (curren
15、t prices, $ billion), 20071136 Table 27: China inflation, 200711 37 Table 28: China consumer price index (absolute), 200711 .37 Table 29: China exchange rate, 200711.37 China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 6 LIST OF FI
16、GURES Figure 1: China ice cream market value: $ million, 200711.8 Figure 2: China ice cream market volume: million liters, 200711 .9 Figure 3: China ice cream market category segmentation: % share, by value, 2011 .10 Figure 4: China ice cream market geography segmentation: % share, by value, 2011 11
17、 Figure 5: China ice cream market share: % share, by value, 2011 12 Figure 6: China ice cream market distribution: % share, by value, 2011.13 Figure 7: China ice cream market value forecast: $ million, 201116 .14 Figure 8: China ice cream market volume forecast: million liters, 201116 15 Figure 9: F
18、orces driving competition in the ice cream market in China, 2011 16 Figure 10: Drivers of buyer power in the ice cream market in China, 2011 17 Figure 11: Drivers of supplier power in the ice cream market in China, 2011 18 Figure 12: Factors influencing the likelihood of new entrants in the ice crea
19、m market in China, 2011 19 Figure 13: Factors influencing the threat of substitutes in the ice cream market in China, 2011 21 Figure 14: Drivers of degree of rivalry in the ice cream market in China, 201122 Figure 15: Fraser and Neave Ltd.: revenues for example, supermarkets have been developing pri
20、vate label ice cream products, which have put the branded products under pressure. However, also some large, international ice cream producers have integrated forward by selling to consumers, directly through chains of shops and franchised ice cream parlors, which tends to reduce buyer power. Ice cr
21、eam is generally not a significant part of a food retailers business, which moderately strengthens buyer power. Overall, the buyer power is moderate. China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 18 Supplier power Figure 11: Dr
22、ivers of supplier power in the ice cream market in China, 2011 SOURCE: MARKETLINE M A R K E T L I N E Ice cream, a flavored frozen food, is made up of milk fat or butterfat, milk solids, sweeteners, stabilizers , emulsifiers, and water. As long-term supply contracts are uncommon, dairy products are
23、usually purchased in the open market. Therefore, ice cream companies have little control over prices, and often use techniques, such as hedging, to mitigate the impact of price fluctuations. Large ice cream manufacturing firms may have a strong negotiating position, but the absence of fixed-term agr
24、eements means that the cost of switching suppliers is low. Supplier power is boosted to some extent by the presence of large dairies and companies, who sell milk fat and concentrates in bulk to the ice cream industry, as well as companies who supply trademarked ingredients. Leading players in the ic
25、e cream market must maintain product quality, if they are to maintain their brand equity in the long term. Their need to source raw materials of appropriate quality (without genetically engineered ingredients) increases the strength of the suppliers. Most foreign companies do not operate their own d
26、airy farms in China. Over half of Chinese fresh milk market is controlled by large, national dairy manufacturers such as Mengniu, Yili, Bright Dairy, Sanyuan, Sanlu and Wandashan. But, recent revelations that several dairy companies in China were using a toxic chemical additive (Melamine) in the for
27、mulation of baby milk powder/formula and other milk products like chocolates and ice cream necessitates the fundamental need for more vigilance. This has weakened the supplier power, with existing players resorting to new suppliers. Packaging is an important input in this market and some market play
28、ers may enter into long-term contracts with their suppliers, which increase supplier power. It may be possible to find substitutes for some minor ingredients such as flavorings in the production of ice cream but there are no satisfactory substitutes for major ingredients like milk and sugar. This al
29、so tends to strengthen supplier power, which is moderate overall. China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 19 New entrants Figure 12: Factors influencing the likelihood of new entrants in the ice cream market in China, 201
30、1 SOURCE: MARKETLINE M A R K E T L I N E Individual makers of gourmet ice cream can appeal to customers by emphasizing their use of natural ingredients and the high quality of products on offer. Such specialty or home-made ice creams can be sold at higher prices and any initial investment in raw mat
31、erials, production equipment, etc. can be recouped by adding a good margin to the price of the end-product. Larger companies, however, produce not only premium ice cream but also mass-marketed products. Here, margins may be much higher. The other limitation of entering this market concerns distribut
32、ion channels. Fresh ice cream is by nature difficult to transport and the storage cost is rather high. Producers need to distribute their ice cream widely, which generally involves channels such as supermarkets. These retail chains often have considerable buyer power, which forces down the prices th
33、at the manufacturers of ice creams can obtain. Sales space is a vital but finite resource, and it may be difficult to persuade retailers to allocate it to a new players ice cream, especially in highly competitive food retail markets. Some of the large international companies such as Unilever and Gen
34、eral Mills have their own chains of ice cream parlors, which sell products directly to the consumer. However, smaller companies may not be able to afford their own ice cream parlors and must instead persuade supermarkets, specialist stores, and other businesses to stock their products. Manufacturers
35、 of ice cream can differentiate their products quite strongly. To hold on to their market shares, they must be willing to push out old flavors and replace them quickly. More demanding consumers want ice cream to be associated with pleasure and experimentation of flavors unfamiliar to them. The stron
36、g differentiation in the ice cream market makes it difficult for newcomers to attract buyers away from the existing companies and diminishes the likelihood of new entrants. Low costs of switching mean retailers can easily change their preferences and start buying products from new companies. They ar
37、e limited to some extent however, as they need to store products the final consumers demand. The market has been growing at a strong rate, which boosts the likelihood of newcomers. Overall, there is a moderate likelihood of new entrants. China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE I
38、S A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 20 China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 21 Threat of substitutes Figure 13: Factors influencing the threat of substitutes in the ice cream market in China, 2011
39、SOURCE: MARKETLINE M A R K E T L I N E From the point of view of consumers, there are a number of substitutes for commercially-available ice cream. These include frozen desserts, such as sorbets and gelato, confectionery, and smoothies. Retailers, aiming to meet consumer demand, will tend to stock a
40、ll kinds of substitutes. From the retailers point of view, they may offer benefits, such as higher margins (e.g. premium-priced desserts), cheaper storage and longer shelf-life (e.g. confectionery does not need to be stored in a freezer). Switching costs are not significant. However, most food retai
41、lers are likely to continue selling ice cream as part of their product range, and the threat of substitutes is assessed as moderate. China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 22 Degree of rivalry Figure 14: Drivers of degre
42、e of rivalry in the ice cream market in China, 2011 SOURCE: MARKETLINE M A R K E T L I N E The Chinese ice cream market is fairly fragmented with the top four players holding just over 40% of the total market by value. Its most significant players include large, well-known international companies li
43、ke Unilever and Nestle, as well as smaller, local competitors. The large number of competitors in this market increases rivalry. There is intense competition between big players. For example, in 2007, Nestle and Unilever broke anti-trust guidelines by blocking retailers from stocking rival brands in
44、 their freezers. Retailers can switch between different manufacturers products quite easily, which increases the degree of rivalry amongst players. However, the brand loyalty of consumers exerts a pull-through on retailers and, thus, makes it difficult for them to abandon a popular branded product a
45、nd replace with a private-label product. It is notable that the largest players in this market own majority of their factories. Consequently, exit barriers are high, since leaving the ice cream market would require divestment of substantial, and often quite specialized, assets. Fixed costs are also
46、likely to be high, although automated processes mean that production can be ramped up when necessary. These factors tend to intensify rivalry. Some leading players have diversified into other food businesses, which reduces rivalry by making them less reliant on ice cream sales. Overall, there is a m
47、oderate degree of rivalry in this market. China - Ice Cream 0099 - 0121 - 2011 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 23 LEADING COMPANIES Fraser and Neave Ltd. Table 9: Fraser and Neave Ltd.: key facts Head office: 21-00 Alexandra Point, 438 Alexandra Road
48、, Singapore 119958, SGP Telephone: 65 6318 9393 Fax: 65 6271 7936 Website: Financial year-end: September Ticker: F99 Stock exchange: Singapore SOURCE: COMPANY WEBSITE M A R K E T L I N E Fraser and Neave is involved in the production and sale of food and beverages, property development and investme
49、nt, management of real estate investment trusts (REIT), and printing and publishing. These activities are carried out through the groups subsidiary, joint venture and associated companies. Fraser and Neave is present in over 20 countries spanning the Asia Pacific region, Europe and the US. The groups operations are broadly categorized into three business segments: properties, food and beverage, and publishing and printing. However, it reports its revenues through seven business divisions: development p
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