Vitamins play a major role in several industries, including food and beverages, public health, dietary supplements, and medical nutrition. Vitamins such as D3 are considered the major constituents and active pharmaceutical ingredients (API) in the pharmaceutical industry. The outbreak of COVID-19, the increasing demand for nutricosmetics, the rising intake of nutritional supplements, and growth in investments in the animal feed industry are expected to drive the market for vitamin D during the forecast period. While the industry is expected to pose an absolute growth of 62% by 2026, over 75% of the growth is expected to come from APAC, North America, and Europe regions.

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.

白酒：板块有所回落，均价持续提升。乳制品：板块景气持续，品类均价分化。调味品：增速同比转负，集中度有所下降。保健食品：板块量价齐升，需求趋势向好。休闲食品：业绩有所下滑，集中度环比下降。奶粉：飞鹤销量高增，均价平稳增长。

白酒板块，全年来看，高端白酒及次高端白酒消费升级趋势明显，扩容提速，相关 酒企动销进度远好于去年同期。啤酒板块，2021Q1 全国啤酒总产量 821.99 万千升，同比增长 50.66%。乳制品板块，上游奶源供给偏紧价格持续上行，带动下游竞争趋缓，同时一季度同 比均呈现明显改善。卤制品板块，持续看好卤味龙头绝味食品。调味品板块，建议关注低估值存在预期差企业。

Dairy proteins are derived from milk and are consumed widely in food & beverages, personal care applications, and various nutrition products. The report scope includes various types of dairy protein including whey protein, casein & derivatives, and milk protein concentrates. In addition, the report also provides the market categorization based on form into solid and liquid. The applications of dairy protein considered in the scope of the study include food & beverages, nutrition, personal care & cosmetics, feed, and others.

The potato protein market is analyzed on the basis of its prospects and future growth rate. The report highlights numerous factors that influence the growth of the potato protein 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 various types and applications of potato protein. Potato protein is considered as a highly valuable non-animal protein, as it acts as a rich source of essential amino acids. It is an added-value ingredient produced from a by-product (such as potato juice) of starch production. The study analyzes the types of potato protein as isolates and concentrates.

整体观感：下半场的变局与机会。年内节奏看，市场主线仍是业绩兑现支撑估值，需求复苏和成本传导走向下半场，一是需求由反弹式高增走向平稳式增长，二是上游提价逐步传导，下游成本抬升和提价概率提高。同时产业新趋势和新机会显现，一是新的景气赛道出现，如预制菜等，二是集中成为传统赛道新主题，如啤酒企业布局果酒领域。

受去年同期低基数影响，2021Q1 食品饮料板块收入、利润增速相比同期显著加快。Q1 食品饮料板块实现收入2480 亿元，同比增长24%，相较2019 年Q1 提升7.8pct；归属股东净利润514 亿元，同比增长26.9%，相较2019Q1 提升2.54pct，整体改善明显。

3 月白酒产量同比提升，名酒终端价稳中有升。全国2021 年3 月白酒产量79.2 万千升，同比上升24.7%。京东部分名优白酒4 月30 日价格相较21年3 月26 日价格：京东52 度五粮液维持1,389 元/瓶；52 度剑南春涨至459 元/瓶；52 度水井坊上涨10 元至519 元/瓶。

（1）逐步布局合理估值板块，迎接基本面改善：布局乳制品伊利，蒙牛，飞鹤，澳优，现代牧业，中炬高新，天味食品，颐海国际，华润啤酒，绝味食品等；（2）紧握高成长型标的，赚取成长的钱：酒鬼，山西汾酒，妙可蓝多，重庆啤酒，盐津铺子；（3）继续持有高估值大白马，时间换空间：茅台、五粮液，古井，海天，安井等；