Compared with a single seasoning, the compound seasoning effectively simplifies the cooking process and meets the diverse cooking needs of consumers. Due to its convenience and ease of use, "lazy seasoning" has become a hot-selling category in the condiment industry, and it is very popular online and offline.

According to the line check data, the growth rate of the compound condiment industry is better than that of the overall condiment market, and the proportion of B- side continues to increase. In 2020, the scale of China's condiment industry will be 395 billion yuan, with a compound growth rate of about 8.04 percent from 2013 to 2020, and the overall industry will enter a stable maturity period. In 2020, the market size of compound seasonings will reach 150 billion billion yuan. 2013-2020 compound growth rate of 15.2, significantly faster than the overall growth rate of the condiment market, the proportion of the condiment industry as a whole increased. According to the 2020 market data released by the China Condiment Association Network, with the rapid development of the catering industry and the birth of new catering in recent years, the sales proportion of condiments in the catering industry, industrial industry and family life has increased from 46%/30%/24% in early 2018 to 50%/20%/30% in 2020.

From the category point of view, compound condiments mainly include basic compound condiments and full compound condiments. Among them, the basic compound condiments mainly include oyster sauce, chicken essence and seasoning sauce, which are mostly used in Chinese and Western meals in the catering channel, which can help chefs increase the convenience of cooking and will not weaken the value of chefs. Full compound condiments are mainly used in home and small dining scenarios, with hot pot base and Chinese compound condiments being the two fastest growing tracks.

In the compound condiment industry chain, the upstream is mainly raw materials, packaging materials and additives suppliers, the midstream is the manufacturer of compound condiments, and the downstream enters the terminal catering, food processing and retail consumer groups through various online and offline distribution channels.

Compound seasoning processing methods are mainly extraction fermentation type, decomposition reaction type and raw material mixing type three, the current production of compound seasoning mainly raw material mixing type, by controlling the amount of different raw materials, mixing modulation of different flavors. Traditional single-flavor condiments rely more on fermentation production, which requires a longer period of fermentation and brewing, with longer production cycles, more complex processes, and relatively high barriers to entry.

According to the different sales objects, the business model of compound condiment can be divided into two categories: B- end and C- end. The two business models are different in business model, sales channel, brand building and other aspects. Due to the different core needs of individual consumers and enterprises for condiments, the key to competition of enterprises under the two types of business models is also quite different: the B side is mainly product-oriented, highlighting the company's customization and research and development capabilities, and partial service types; The C- side is mainly sales-oriented, focusing on brand and channel capabilities.

B- side pay attention to "fast quasi-stable" product research and development service capabilities, customized standardization is the main grasp. The B- side business customers are mainly downstream catering chain enterprises, food processing enterprises and customers with OEM and ODM needs, and condiment enterprises provide condiment design and production services as raw material suppliers for downstream customers. As catering and food processing enterprises usually have high requirements for product quality and safety, and some enterprises also put forward personalized needs, the product power of enterprises is very important in the competition of B- side business. Whether the company can accurately grasp the changing trend of the market, quickly respond to customer needs and complete large-scale production with high quality, and provide stable package products is the core key to whether the company can gain a foothold in the industry.

The C- side focuses on the operation mode of consumer goods, focusing on brand and channel building. The end customers of the C- side business are individual consumers, and enterprises sell their products to consumers through sales channels such as supermarket retail, e-commerce platform and circulation and wholesale to meet consumers' home cooking needs. As compound condiments are in the early stages of development, the industry does not have an absolute advantage of the leading enterprises, and the category is optional attributes, so product brand and channel construction has become the key to competition in the C- side business. C- end enterprises often need to invest a lot of resources in the early stage to build brand image and expand sales channels, the impact on the minds of consumers, and then gradually through the increase in sales scale to achieve profitability.

In addition to macro factors, in the past five years, the state has issued a number of policies for the condiment industry to support the construction of a solid industrial chain foundation and assist the future development of the industry; at the same time, the state has also promulgated a number of regulations to standardize restrictions.

In 2018, among the 27 national food safety standards issued by the state, new national standard definitions were given to vinegar, soy sauce and compound seasonings. Under the new national standard, the prepared soy sauce and vinegar produced by the preparation process will be managed according to the compound seasoning, and will no longer belong to the category of soy sauce and vinegar. At the same time, the compound seasoning standard also puts forward technical requirements for raw materials, sensory organs, pollutant limits, microbial limits, food additives, etc. Therefore, small and medium-sized seasoning enterprises that compete in the market with low quality and low price all the year round are expected to be cleared, the market share of leading companies is expected to continue to increase.

In terms of policy, the "Several Opinions on Improving Support Policies to Promote the Continuous Increase of Farmers' Income" published in 2016 emphasized the promotion of agricultural standardized production. Since agricultural products such as spices, garlic, and onions are the main raw materials for compound condiments, agricultural standardized production is compound Condiment companies control the quality of upstream raw materials and provide guarantees for the construction of "standardization, scale and branding" of products.