宠物食品行业：25年它博会中的产业趋势－宠物食品系列（4）

Jelly candies, commonly known as gummies, are a type of confectionery made from gelatin, sweeteners, flavorings, and colorings. These candies have a chewy texture and come in various shapes, sizes, and flavors. The gelatin provides the characteristic elasticity and chewiness, while the sweeteners and flavorings give them their distinct taste.

APC has two subsidiaries1 operating under it, KEMAPCO and Numeira Mixed Salts and Mud Company, wholly owned by APC. KEMAPCO was established to sell Potassium Nitrate (NOP) fertilizer and Nitric Acid for agricultural use. On the other hand, Numeira’s operations include purchasing and packaging carnallite as well as extracting mud from the Dead Sea to be used in cosmetics manufacturing

Based on product type, the amino acids market was valued at $9.68 billion in 2023 and is projected to reach $11.20 billion by 2029, growing at a CAGR of 2.46% during the forecast period. • Amino acids are essential nutrients for animals, serving as the building blocks of protein. They are crucial for animal growth, productivity, and overall health. Within the animal feed additives market, amino acids represent one of the fastest-growing product segments. Their popularity is driven by their proven benefits in enhancing animal growth, optimizing feed efficiency, and meeting rising consumer demand, particularly in the poultry, swine, and aquaculture sectors.

外部不确定性增加+国内政策定调积极，行业重视度提升。近期外部 不确定性增加，提振内需或将成为推动国内经济增长的重要一环。叠 加国内消费定调积极，食品饮料业绩受海外市场影响较小，行业重视 度提升。

Deli meats are cured or precooked and are generally used in sandwiches and burgers as fillings. These meats are also known as sandwich meat, lunch meat, cold cuts, or sliced meat depending on their cut size and application in food.

Dried food refers to food products that have undergone a drying or dehydration process to remove the majority of their water content. This preservation method helps extend the shelf life of the food by inhibiting the growth of bacteria, yeasts, and molds that cause spoilage. Drying food reduces the moisture content, making it less prone to deterioration and allowing for long-term storage without the need for refrigeration. Dried food can be produced from various sources, including fruits, vegetables, meat, seafood, herbs, spices, nuts, grains, and more. The drying process typically involves exposing the food to controlled heat, air circulation, or sunlight, which helps evaporate the water while retaining the flavor, nutrients, and texture to a certain extent.

北京市发放 2023 年以来首批餐饮消费券，为餐饮行业需求改善注入动力。北京市朝阳区于 3 月 28 日 10:00 发放餐饮消费券，发放对象为所有 IP 地址在北京市范围内消费的消费者。本次 消费券计划分 5 轮发放，周期为：3 月 28 日-4 月 3 日、4 月 4 日-4 月 10 日、4 月 11 日-4 月 17 日、4 月 18 日-4 月 24 日和 4 月 25 日-5 月 1 日。共推出三种券面：满 200 元减 60 元、满 500 元减 180 元、满 1000 元减 400 元。每个消费者在同一平台每轮次最多可领取 3 张消费券 中的 2 张，可在多平台进行领取，单笔订单最多可使用 1 张消费券。

我国消费政策定调积极，白酒预期抬升。2024年12月中央政治局会议 与中央经济工作会议提出“要大力提振消费、提高投资效益，全方位 扩大国内需求”。此后，2025年2月国务院常务会议、3月的政府工作 报告均提出要大力提振消费。3月16日，中共中央办公厅、国务院办 公厅印发《提振消费专项行动方案》，政策覆盖面广泛，力度不断加 强，国内消费需求有望得到提振。白酒作为顺周期赛道，其基本面与 宏观经济周期呈一定相关性。目前，我国消费稳步复苏，叠加国家积 极出台消费刺激政策，白酒预期抬升。

量价复盘：总量啤酒格局已定，低价竞争无法带来增量与吨价增长（通过提价），高端化升级是实现我国啤酒行业价增的长期源动力