Popular ”best value for money item” from China MZ... What is its true identity? = Korean report

The market for frozen bread products is growing rapidly in China. This is due to the fact that they are affordable and can be stored for a long time. In addition, the number of single-person households in China has increased in recent years, making it easier to prepare and consume.
According to the Korea Trade-Investment Promotion Agency (KOTRA) on the 1st, the size of China's frozen bakery product market is estimated to be 20
In 2013, the market was worth just 2 billion formers (approximately 42.8 billion yen), but in 2021 it will grow to 11.1 billion formers (approximately 237.5 billion yen), a 5.5-fold increase over eight years. The compound annual growth rate (CAGR) is 23.9%.
The market size is expected to reach 90 billion former (approximately 2 trillion yen) in 2032. The growth of the frozen bakery market is due to the increasing demand for bakery products in China.
According to a survey conducted in China, 90.6% of consumers answered that they purchased bakery products "once a week or more" last year.
Frozen bakery products have seen rapid growth in both the commercial and consumer markets in China.
This allows the major production steps to be significantly reduced, effectively reducing labor and manufacturing costs at the delivery store. In addition, thanks to the freezing technology, the product can be frozen for up to 6 hours while maintaining its freshness and flavor.
Another advantage is that it can be stored for more than a month.
Some of the companies selling products such as mochi bread, jelly roll cake, and durian crepe cake include
The products have become a hot topic on Chinese social media due to their reasonable prices and excellent taste, and are gaining popularity. In supermarkets, pizzas of various flavors, durian bread, egg tarts, and other products are also popular.
It's so popular that it's sold out. In addition, beverage and coffee franchise brands such as Starbucks, Luckin Coffee, and Hey Tea also purchase frozen products.
From the consumer's point of view, the price of frozen bakery products is only 30-80% of that of room temperature bakery products, making them easy to purchase.
In fact, a bagel sold at Sam's Club is inexpensive, costing 23.8former (about 510 yen) for a pack of seven. With its affordable price and stable quality, Sam's Club China's bagel market is expected to grow by 2023.
The total online and offline sales of curry products exceeded 2.75 billion yen (approximately 59.4 billion yen). In addition, with the increase in single-person households in China, the trend of "home economy" and "eating alone" has become more prevalent.
The social phenomenon of frozen bakery products is becoming more and more established, further increasing consumer demand for frozen bakery products. The popularity of small appliances such as air fryers, microwave ovens, and ovens is also contributing to the growth of the city.
A KOTRA official said, "To be competitive in the local frozen bakery product market, we need to maintain stable product quality, set fair prices, and
"It is important to quickly respond to rapidly changing consumer preferences," he said. "In particular, as the Chinese government's food safety requirements and related regulations have become stricter recently, we need to be careful about these standards.
We need to check that," he said.