截止2020年5月底，我国食品行业规模以上企业数量达到7945家。其中，亏损企业数量1882家，亏损面29.05%，亏损面环比缩小3.95个百分点。此外，1-5月食品行业亏损总额67.6亿元，累计增长21.1%。

Foodservice equipment are used for preparation and storage of food products for commercial purpose. These equipment are used in restaurants, hotels, and other commercial kitchens. These include cooking equipment, storage & handling equipment, warewashing equipment, food preparation equipment, and serving. The revenue source for the foodservice equipment market is based on the sales, after service, and replacement of foodservice equipment. The food service equipment market is segmented into product, end use, and region. By product, the market is divided into cooking equipment, storage & handling equipment, warewashing equipment, and serving equipment. By end use, it is classified into Full-service Restaurant & Hotel, quick service restaurants, and catering. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Phosphoric acid serves as a popular ingredient in sodas, precisely in cola drinks. Along with its aptitude to preserve the integrity of the soda's recipe blend, the ingredient drastically reduces the bacterial growth while infusing the exceptional tangy taste to the cola soft drinks, fostering its desirability amongst food manufacturers. Despite rising concern against the detrimental attributes of soft drinks, the sector lays vast scope for the niche ingredients like phosphoric acid, pertaining to robust consumption share of cola-drinks in the overall soft drink industry. According to the Beverage Digest, the companies PepsiCo and Coca Cola together constituted about 68% of total carbonated soft drink market share, in the United States, in 2018. Since the companies primarily offer cola based soft drinks, the statistic portrays promising application of phosphoric acids in the end-product. Moreover, companies in order to promote their products and supplement their sales are constantly emphasizing on the fact that phosphorus acid when taken in small quantities causes no harm. For instance, Pepsi, in response to several epidemiological studies, stated a research finding about health-effectiveness of phosphoric acids. Additionally, companies like Coca-Cola are even comparing the incorporated phosphorus content with food products, including milk, rice, chicken, to gain consumer ’s confidence.

根据淘数据显示， 2020 年7 月白酒淘系平台销售额为4.59 亿元，同比上升113.70%，销量同比上升19.33%，销售均价同比上升78.23%。2020 年7 月淘数据平台茅台销售额1.11 亿元，同比增长325.35%，环比增长（-69.09%）；五粮液、泸州老窖、郎酒、洋河、汾酒、西凤销售额分别为0.28、0.19、0.20、0.16 、0.16、0.05 亿元。

近五个交易日沪深300 指数上涨2.00%，食品饮料板块上涨5.74%，行业跑赢市场3.74 个百分点，位列中信30 个一级行业第一。其中，酒类上涨6.07%，饮料上涨0.23%，食品上涨7.55%。

【本周推荐】维持行业“推荐”评级，8 月组合：今世缘/洋河股份/泸州老窖/山西汾酒/青岛啤酒/贵州茅台/五粮液/伊利股份/涪陵榨菜/绝味食品/双汇发展/桃李面包。

食品板块关注度提升，白酒静待业绩公布节奏。本周食品饮料行业涨幅-2.14%，在全行业板块中排名靠后。从细分板块来看，市值占比较高的白酒、调味品跌幅靠前，而黄酒、休闲食品等表现相对较好。从中报业绩公布节奏来看，上周茅台双位数增长给予高端白酒稳健增长的市场预期，行业酱酒热关注度较高。本周盐津铺子等公司发布中报，食品板块在疫情影响下的高成长性凸显，休闲零食的关注度提升。

最近处于中报密集披露期，由于前期板块整体涨幅较大，龙头估值已达到或超过历史高位，近期部分板块存在阶段回调概率，板块内部龙头及中小企业的表现可能出现分化，我们认为在该阶段下，应重视兼具业绩确定性及中长期成长稳定性的行业龙头，若资金面表现反复、市场风格切换调整下，适合从更长远的视角精选行业优质标的进行配置。

Beans are the most common name for the large seed variety of Fabaceae family. The global dry beans market is growing at robust growth rate, owing to the increasing awareness about its health benefits. Dry edible beans have a variety of market classes, including kidney bean, navy bean, pinto bean, and black bean. The production of dry beans is majorly affected by several factors, such as environmental hazards, bio stress, and government policies of the country. Beans are subject to several bacterial and viral diseases as well, particularly in years of high temperature, high humidity, and heavy rainfall. These unfavorable climatic conditions, along with diseases and pest infestation, often take a heavy toll on the yield of dry beans. Top global dry bean producers are Myanmar, India, Brazil, China, Mexico, Tanzania, the United States, Kenya, Uganda, and Rwanda. Major importers are generally India, China, Bangladesh, the United States and Egypt. Production costs for dry beans are usually on the higher side. Extra costs on dry beans can include higher seed cost, and the need of sprays for insects or pests are more, as compared to other leguminous crops. Apart from these costs, extra labor during harvest adds to the expense, especially in regions with labor shortage.

上周食品饮料行业整体下跌 2.14%，在 28 个子行业中排名第 27 位， 调整较多，跑输上证综指 3.47pct、跑输创业板 0.51pct。子板块对 比，其他酒类上涨 9.02%领涨；葡萄酒上涨 7.30%其次；食品综合、 乳品和调味发酵品分别上涨 2.39%、0.66%和 0.31%；其他板块出现 不同程度下跌。其中,软饮料和肉制品分别下跌 0.85%和 1.24%，跌 幅不大；白酒和啤酒分别下跌 3.64%、5.36%，调整较多。个股中因 业绩快速放量、持续高增长的盐津铺子涨幅靠前。贵州茅台、五粮 液、伊利股份北向资金净买入额分别为 7.21 亿、2.16 亿、0.60。 对应周股价涨跌，贵州茅台、五粮液、伊利股份分别-2.81%、-4.71%、 -0.55%。