China is the largest producer of gourmet powder in the world. Most condiments contain gourmet powder. With the increase in exporting of the Chinese condiment and fermentation products, the demand for gourmet powder will also increase. Notice on Adjusting the Export Tax Refund Rates of Certain Products was issued by China's Ministry of Finance in 2014, which regulated to increase export rebates of some high added-value products, processed products of corns, textiles and garments. The export rebate of gourmet powder increased from 0 to 13%, which was implemented on January 1, 2015 and promoted the import of gourmet powder in China.
Corns and coals occupy the largest portion of the total cost in gourmet powder manufacturing in China. Generally speaking, the price of corns is steady while that of coals fluctuates much due to factors of economic cycles and market speculation. In addition, gourmet powder manufacturing industry faces increasing costs of environment protection and labor. Generally speaking, the production costs and price of gourmet powder both present an upward trend in China.
The downstream industries of gourmet powder are concentrated in food processing industry, catering industry and household consumption. The proportions are respectively around 5:3:2. In recent years, because of the rising resident income, the consumption upgrading and also the nationwide saga about gourmet powder being harmful to human health, the demand from catering industry and households for gourmet powder decreases, while the demand for soy sauce and chicken essence increases. In fact, gourmet powder is also one of the main raw materials of soy sauce and other condiments. The development of other condiment industries and snack food industry in China increase the market demand for gourmet powder, enhancing the stable growth of gourmet powder industry.
- Fufeng Group
- Lotus Health Industry Holding Group Company
- Meihua Biological Technology Group Co. Ltd.
- Ningxia EPPEN Biotech Co. Ltd.
- Shandong Shenghua Group
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