Chongqing - On October 27, the China (Chongqing) Hot Pot Ingredient Industry Development Conference was held at the Chongqing International Expo Center. Over 200 experts, industry leaders, and entrepreneurs focused on hot pot ingredients and explored industry trends at the conference.

On October 27, the China (Chongqing) Hot Pot Ingredient Industry Development Conference was held at the Chongqing International Expo Center. (Photo/The event organizer)

Ye Lina, Deputy Director of the Chongqing Municipal Commission of Commerce, said, "Hot pot ingredients are one of the seven key industries in the food and agricultural processing sector." Chongqing is committed to promoting high-quality development in the hot pot industry, using hotpot ingredients as a pivotal element to boost the prominence of Chongqing Hot Pot.

Yang Guofu, Chairman of the Chinese Culinary Association's Hot Pot Special Committee, underscored the significance of the hotpot ingredient industry. He noted that the food industry is a crucial pillar of China's national economy, and hot pot, as the leading category in the Chinese cuisine market, holds a pivotal position. 

He stressed that the industry's growth relies on continuous exploration of big data, new technologies, new products, innovative thinking, and novel business models, as well as collaboration along the entire supply chain and guidance from experts across various fields.

During the conference, Jiao Jianhui, Chenzhi Catering Big Data Founder unveiled the "2023 China Hot Pot Ingredient Industry Big Data" report. This report provided insights into the current state of the hot pot ingredient industry through data and case studies, as well as an analysis of the industry's upstream and downstream sectors. 

Notably, the hotpot restaurant industry in China boasts an estimated revenue of approximately 500 billion yuan (USD 68.3 billion), accounting for 10% of the total national restaurant industry income. 

However, the industry's chain rate is currently at 27.3%, significantly lower than the overall restaurant chain rate, and most businesses are still single establishments or have fewer than 500 outlets.

Tian Liyu, Chairman of the Yike Group, shared Yike Group's innovations in various technical areas, including ingredient cultivation and production processing, offering valuable experiences for advancing the standardization and innovation of hotpot ingredients.

Lei Ge, head of operations for the Tmall fresh food industry, presented on "New Trends in Hot Pot Ingredient E-commerce." Drawing from comprehensive data on the Tmall platform, he highlighted the core categories of hot pot ingredient consumption, pinpointed key factors influencing consumer behavior, and analyzed information channels influencing decisions. 

Li Hongjun, former dean of the School of Food Science at Southwest University and senior visiting scholar at Cornell University's Department of Food Science, discussed "Technological Revolution and New Opportunities in the Ingredient Industry." He showcased technological breakthroughs in various aspects of ingredient processing, freshness locking, and seasoning.

Wei Yuzhi, founder of Maojian Capital, used a capital-centric perspective to examine the development path of the hot pot ingredient industry and summarize excellent experiences within the sector. He emphasized the importance of strong product innovation capabilities, creating unique products, and promoting industry evolution.