Focus on the advantages of yogurt
Data show that the market capacity of low-temperature products in the domestic retail market has reached about 13 billion yuan, with a compound growth rate of 18.2% in the past three years, of which yogurt has a compound growth rate of 18.2% in the past three years. The growth rate of production and sales is as high as more than 20%, which is much higher than the growth rate of other dairy categories. According to the industry, with the improvement of residents' living standards and the enhancement of health awareness, the yogurt market will expand rapidly in the next few years. Therefore, the yogurt market has become a battleground for dairy companies.
After this cooperation, the yogurt market share of the companies under the Mengniu Group will reach more than 30%, and the two brands Mengniu and Junlebao will form a united front. Mengniu's annual report data shows that the compound growth rate of Mengniu yogurt was 27.3% from 2006 to 2009, and the year-on-year growth rate in the first half of 2010 reached 30.3%. Junlebao is the largest yogurt production base in North China, ranking fourth in the country in yogurt market share. Of its annual turnover of 1.26 billion, up to 84% of its performance comes from yogurt.
The industry believes that the more profound impact of this integration is the complementary advantages of both parties in terms of "soft assets" such as product research and development, production technology, quality control, etc., which Junlebao can enjoy with Mengniu*** Mengniu's Asia's largest high-tech dairy research institute and overseas workstations and other technological innovation platforms and related research and development results have improved the technological content and market competitiveness of Junlebao's low-temperature products. Both parties will work together to develop more high value-added yogurt products for consumers that meet different consumer needs. In the past, Mengniu Guanyi Milk pioneered high-end functional yogurt in China, while Junlebao's red date yogurt created a sales miracle in this category with its innovative taste. Such product innovation is also expected to achieve longer-term development in the future.
Jin Ye, Dean of the School of Food Science and Engineering of Inner Mongolia Agricultural University, believes: “The core competitiveness of China’s dairy industry in the future lies in integrating with the world’s most advanced dairy technology and improving its capabilities in high value-added dairy products. Independent research and development capabilities. The strategic cooperation between Mengniu and Junlebao, the mutual complementation of scientific research strength and experience, will promote the research and development and application of low-temperature dairy products to a new level. This cooperation will have a huge role in strengthening low-temperature dairy products with high added value and improving the international competitiveness of China's dairy industry."
Brand integration and intensive development
After the cooperation between the two parties. , Junlebao will leverage Mengniu's advantages in milk sources, research and development, quality control and marketing channels to accelerate the transformation of "Junlebao" from a strong regional brand to a national brand, and better support the sustainable and healthy development of China's dairy industry.
It is understood that as early as 2009, the Ministry of Industry and Information Technology and the National Development and Reform Commission formulated the "Dairy Industry Policy" to encourage domestic dairy companies to integrate processing resources through asset restructuring, mergers and acquisitions, strong alliances, etc. Improve the level of industry. The recommendations of the “Twelfth Five-Year Plan” further proposed that the overall development scale of China’s dairy industry should change from extensive to quality and efficiency. This means that the cooperation between Mengniu and Junlebao may kick off the consolidation of China's dairy industry.
Liu Guoguo, chairman of the China Dairy Association, said at the press conference that the cooperation between Mengniu and Junlebao meets three criteria. The first is that it is in line with the spirit of economic transformation in the "Twelfth Five-Year Plan"; The second is in line with industry policies to restructure dairy industry resources and increase industry concentration. The third is in line with the laws of the market economy that shift from competition to coopetition.
“Many industries in our country are highly fragmented, and market concentration is far from enough, resulting in poor economies of scale and hindering product quality control and technological progress. my country’s dairy industry also has such problems, and even It is more prominent. To solve this situation, we must vigorously integrate industry resources, and mergers and acquisitions are inevitable and the most effective way." Ma Yu, director of the Research Institute of the Ministry of Commerce, believes that "Mengniu's past performance mainly relies on self-built factories. There is little capital integration. With the introduction of industrial policies and changes in corporate scale, the shift from incremental growth to stock restructuring has become a practical necessity. The integration of Junlebao is essentially the beginning of Mengniu’s integration of local and regional brands. It will also accelerate the entire dairy industry to embark on the path of intensive growth!" !
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