我们认为，短期报表端受行业景s 气度及公司自身调整等因素扰动，但护城河深厚的头部企业稳步拓展市场份额的长线逻辑具备确定性；复调建议关注下半年旺季需求释放，长期行业集中度有待提升，建议弱化短期业绩要求，下半年布局，关注调整中的头部公司，海天、天味、颐海、千禾、中炬。

The ongoing health crisis has pushed consumers to adapt to new methods of shopping, most of which have shifted online. Restaurants were forced to shut in many places, pushing people to cook at home (this led ingredient purchases instead of finished products). With meat factory virus breakouts, consumers had to make shifts in product choices. Overall, consumption patterns and channels have been severely impacted.

雖然國內連鎖超商福袋銷售優於 2020年同期 有效挹注餅乾之銷售值表現 加 上 部分民眾將原有國外旅遊預算轉移至國內旅遊 有助於拉抬觀光伴手禮盒市場買氣 不過由於國外出現新冠肺炎變種病毒，因此 1月 ~2月期間我國再度限縮國外旅客入境條件，使得 2021年第一季國際旅客來台人數持續下滑，以致國際觀光客伴手禮盒市場需求進一步萎縮，導致國內伴手禮盒整體市場銷售情況仍舊處於低檔。

我们认为，随着入夏季高温时期，大猪消化或进一步加速，其对于猪价压制或即将结束，短期猪价有望迎来反弹。而从母猪产能来看目前存栏增长缓慢，且当下行业亏损部分产能已开始去化，考虑年初疫情影响今年整体产能增长或将有限，因此对于明年猪价不必悲观。继续看好生猪养殖行业龙头牧原股份投资机会，重点推荐。

The global reishi mushroom market is analyzed on the basis of its prospects and future growth rate. The report highlights numerous factors that influence the growth of the reishi mushroom market, which include market forecast, drivers, restraints, opportunities, and role of different key players operating in the market. The report further emphasizes on the current market trends and future growth opportunities of the various form, end use, and nature of reishi mushroom. Reishi mushroom, also known as Ganoderma Lucidum, is a type of mushroom that has been used in Chinese medicine for approximately 2000 years. It has a bright surface, a woody texture, and a deep red color. It is pharmacologically as well as commercially the most important medicinal mushroom in the world. Various biological properties of this mushroom make it useful in the treatment of diseases and improvement of overall health. These biological properties are due to the presence of bioactive constituents like polysaccharides, triterpenoid, nucleotides, steroids, and fatty acids.