食品饮料行业2020年6月阿里系线上数据点评：各行业延续高增,酒类增长亮眼

格隆汇APP · Jul 9, 2020 13:28

原标题：食品饮料行业2020年6月阿里系线上数据点评：各行业延续高增,酒类增长亮眼来源：格隆汇

核心观点

2020 年 6 月，各行业延续线上靓丽表现，膳食营养补充剂、休闲食品、乳制品、酒类及饮用水销售均实现双位数以上强势增长，各行业龙头表现分化。2020H1 疫情驱使居民部分消费转为线上，带动线上各行业整体高速增长。

膳食营养补充剂：线上增长强劲，618 活动刺激消费。2020 年 6 月，膳食营养补充剂行业销售额达 33.0 亿元、同增 60.8%。汤臣倍健、Swisse 实现销售额2.3/1.9 亿元、分别同比+63.1%/+52.4%，Swisse 增速落后于行业。2020H1，行业累计销售达 124.6 亿元、同增 35.2%。其中，汤臣倍健、Swisse 累计销售为 9.4/7.3 亿元，分别同比+44.4%/+41.6%，龙头表现优于行业。2020 年 6 月阿里平台益生菌销售额为 2.3 亿元、同增 71.9%，Life-space 销售额为 2434 万元、同比+40.9%。

休闲食品：行业持续增长，多因素致龙头份额下降。2020 年 6 月，阿里平台休闲食品行业零售额达 58.0 亿元、同增 25.1%。疫情下消费者线上购买休闲食品的习惯逐步养成&618 活动刺激消费，整体销售稳健增长。龙头三只松鼠/百草味/良品铺子实现销售额 5.8/3.3/2.7 亿元、分别同比-18.4%/-5.8%/-18.1%，市占率为10.1%/5.7%/4.7%，多因素导致龙头份额下降：①短期加大站外流量投入；②部分精力投放于新品牌开发；③线下品牌加速线上化发展，加剧线上竞争。2020H1，休闲食品行业销售为 367.8 亿元、同增 25.0%。其中三只松鼠/百草味/ 良品铺子累计销售额分别为 43.7/27.4/17.0 亿元、分别同比 +16.2%/+16.4%/+14.8%，龙头表现稍落后于行业。

乳制品：液奶销售持续强劲，奶粉线上渠道增速保持。1）液奶：2020 年 6 月液奶行业销售额为 14.3 亿元、同增 83.4%，龙头伊利/蒙牛销售额为 4.2/2.1 亿元、同比+139.4%/-5.4%，龙头表现分化。2020H1，液奶销售达 55.2 亿元、同增 77.9%。伊利/蒙牛累计销售额为 14.8/10.9 亿元、同比+93.4%/+60.8%，液奶销售线上高增。2）奶粉：2020 年 6 月牛奶粉行业实现销售额 15.9 亿元、同增50.8% ，爱他美 / 飞鹤 / 美素佳儿销售额分别为 2.8/1.5/1.3 亿元、同增59.1%/119.9%/71.3%。 3）奶酪：2020 年 6 月奶酪行业实现销售额 7413 万元、同增 79.6%，行业持续高增。2020 年 6 月，百吉福/妙可蓝多/伊利销售额分别为 3160/1343/763 万元，市占率为 42.6%/18.1%/10.3%。

酒类：啤酒线上动销强劲，白酒维持快节奏增长。啤酒：2020 年 6 月啤酒行业销售额为 3.7 亿元、同增 65.5%、环增 57.0%，行业逐步步入销售旺季。行业前三的品牌青岛啤酒/百威/哈尔滨啤酒销售额分别为 6266/5173/3571 万元、同比+64.9%/+56.4%/+125.2%。2020H1，行业累计实现销售 11.5 亿元、同增 63.2%。青啤/百威/哈啤/雪花累计销售额为 1.7 亿元/1.4 亿元/1.1 亿元/4472 万元、同比+77.3%/+77.8%/+148.8%/+71.6%。白酒：2020 年 6 月白酒行业销售额为 10.1亿元、同增 130.5%。其中，茅台/五粮液/泸州老窖/山西汾酒阿里平台销售额为3.6/1.0/0.6/0.4 亿元、同比+259.2%/+141.3%/+120.9%/-19.2%。2020H1，白酒销售额为 45.5 亿元、同增 94.9%。茅台/五粮液/泸州老窖/洋河累计销售额分别为 13.0/4.2/3.3/3.0 亿元、同比+321.7%/+65.5%/+94.6%/+16.4%。

饮用水：2020 年 6 月，饮用水行业销售额为 3.2 亿元、同增 51.5%。阿里平台行业前三的品牌农夫山泉/元気森林/巴黎水分别实现销售额 7230/2290/2268 万元、分别同比+39.5%/+133.3%/+38.6%，市占率为 22.5%/7.1%/7.1%。

风险因素：消费需求转弱，食品安全风险，行业政策风险。

Original title: Food and Beverage Industry June 2020 Alibaba Online Data Review: Various Industries Continue to Grow High, Liquor Growth Remains Strong Source: Gelonghui

Agencies:CITIC Securities

Core views

In June 2020, all industries continued their impressive online performance. Sales of dietary supplements, snack foods, dairy products, alcohol and drinking water all achieved strong growth of more than double digits, and the leading performance of various industries was divided. The 2020H1 pandemic has driven some of residents' consumption to online, driving the rapid growth of various online industries as a whole.

Dietary supplements: Strong online growth, 618 activities spur consumption.In June 2020, the sales volume of the dietary supplements industry reached 3.3 billion yuan, an increase of 60.8%.Tomson Beijian, Swisse achieved sales of 23/190 million yuan, +63.1%/+52.4% year-on-year respectively. Swisse's growth rate lagged behind the industry. In 2020H1, the industry's cumulative sales reached 12.46 billion yuan, an increase of 35.2%. Among them, Tomson Beijian and Swisse had cumulative sales of 9.4/730 million yuan, +44.4%/+41.6% year-on-year respectively, with leading performance superior to the industry. In June 2020, Alibaba platform's probiotic sales were 230 million yuan, a year-on-year increase of 71.9%, and Life-space sales were 24.34 million yuan, +40.9% year-on-year.

Snack food: The industry continues to grow, and the share of leaders has declined due to many factors.In June 2020, retail sales in the snack food industry on the Alibaba platform reached 5.8.0 billion yuan, an increase of 25.1%. Under the pandemic, consumers' habit of buying snack foods online has gradually developed & 618 activities have stimulated consumption, and overall sales have grown steadily. faucetthree squirrels/Baicao flavor/Good product shopAchieved sales of 5.8/33/270 million yuan, -18.4%/-5.8%/-18.1%, respectively, and a market share of 10.1%/5.7%/4.7%, respectively, with a market share of 10.1%/5.7%/4.7%. Many factors led to a decline in leading share: ① short-term investment in off-site traffic; ② partial investment in new brand development; ③ offline brands accelerated online development and intensified online competition. In 2020H1, sales in the snack food industry reached 36.78 billion yuan, an increase of 25.0%. Among them, the cumulative sales of the three squirrels/Baicaowei/Liangpin stores were 43.7/27.4/1.70 billion yuan, respectively, +16.2%/+16.4%/+14.8% year-on-year, respectively. The leading performance lagged slightly behind the industry.

Dairy products: Liquid milk sales continue to be strong, and the growth rate of online channels for milk powder is maintained.1) Liquid milk: In June 2020, the liquid milk industry's sales volume was 1.43 billion yuan, an increase of 83.4%, while the sales volume of leading Yili/Mengniu was 42/210 million yuan, +139.4%/-5.4% year-on-year, leading performance was divided. 2020H1, liquid milk sales reached 5.52 billion yuan, an increase of 77.9%. The cumulative sales volume of Yili/Mengniu was 14.8/1.09 billion yuan, +93.4%/+60.8% year-on-year, with a high increase in liquid milk sales online. 2) Milk powder: In June 2020, the milk powder industry achieved sales of 1.59 billion yuan, an increase of 50.8%. The sales volume of Aitamei, Feihe, and Meisujia was 2.8/1.5/130 million yuan respectively, an increase of 59.1%/119.9%/71.3%. 3) Cheese: In June 2020, the cheese industry achieved sales of 74.13 million yuan, an increase of 79.6%, and the industry continued to grow at a high rate. June 2020, Baijifuku/There are many wonderful blue things/Yili's sales volume was 31,60/1343/7.63 million yuan, respectively, with a market share of 42.6%/18.1%/10.3%.

Alcoholic beverages: Online sales of beer are strong, and liquor has maintained a rapid pace of growth.Beer: In June 2020, the sales volume of the beer industry was 370 million yuan, a year-on-year increase of 65.5% and an increase of 57.0%. The industry gradually entered the peak sales season. The top three brands in the industryTsingtao beer/Budweis/Harbin Beer's sales were 6266/5173/35.71 million yuan, respectively, +64.9%/+56.4%/+125.2% over the same period last year. In 2020H1, the industry achieved cumulative sales of 1.15 billion yuan, an increase of 63.2%. The cumulative sales volume of Tsing Beer/Budwei/Halvay/Snow was 170 million yuan/140 million yuan/110 million yuan/44.72 million yuan, +77.3%/+77.8%/+148.8%/+71.6% year over year. Liquor: In June 2020, the liquor industry's sales volume was 1.01 billion yuan, a year-on-year increase of 130.5%. Among them, Maotai/Wuliangye/Luzhou Laojiao/Shanxi FenjiuThe sales volume of the Alibaba platform was 3.6/1.0/0.6/0.4 billion yuan, +259.2%/+141.3%/+120.9%/-19.2% year-on-year. In 2020H1, liquor sales were 4.55 billion yuan, an increase of 94.9%. The cumulative sales volume of Maotai/Wuliangye/Luzhou Laojiao/Yanghe was 13.0/4.2/3.3/3.0 billion yuan, respectively, +321.7%/+65.5%/+94.6%/+16.4% year-on-year.

Drinking water: In June 2020, the sales volume of the drinking water industry was 320 million yuan, an increase of 51.5%.The top three brands in the Alibaba platform industry achieved separate sales of 7230/2290/22.68 million yuan, +39.5%/+133.3%/+38.6% year-on-year, respectively, with a market share of 22.5%/7.1%/7.1%/7.1%.

Risk factors: weakening consumer demand, food safety risks, industry policy risks.

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食品饮料行业2020年6月阿里系线上数据点评：各行业延续高增,酒类增长亮眼

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