2017 Top 100 Food & Beverage Companies of China

Chief Editor: Bella

Author: Mote Chan (Wechat ID: motechanfbif)

Translator: Sandy

Thanks to: Paris Zou, Xiaomin Liu, Haibin Jiang, Shushu Li, Wilbur Zhu, Feifei

Introduction

On August 24, 2017 (Beijing Time), FBIF first released its Top 100 Food & Beverage Companies of China (hereinafter referred to as “FBIF Top 100”). FBIF Top 100 sorts out the top 100 Chinese local food and beverage companies on the basis of their sales performance.

Beyond the seas, there is a World Top 100 Food Companies and a Top 100 Food & Beverage Companies in U.S. and Canada annually issued by Food Engineering and Food Processing respectively. Although domestically various ranking lists are published by some institutions every now and then, there are few lists highlighting “sales performance”; some lists are made up only by a certain index; and some other lists even claim “to rank in a random order”. People can hardly learn anything of industrial structures from these ranking lists, not to mention being convinced.

Only by reference to the external world can a company learn about his own development level and stage. And to better understand Chinese food industry and its current situation, we also need more transparent figures, combined with comparison with the global data.

The past “Information Age” put emphasis on quick access to information. Whoever gets information quicker holds more advantage. However, in this Big Data Era, we believe that the openness and sharing of data is more important. Only with more comprehensive figures, more open and faster circulation channels can information be more valuable and contributable to the development and progress of the industry.

We release the Top 100 Food & Beverage Companies of China this year for the first time. We admit that there might be some flaws and much room to play with its totality, completeness and ranking standards. However, this is our first step and we believe that our endeavors can motivate your acceptance of “Open Data” and finally promote the development of food industry. We also hope to accumulate abundant figures and information concerning Chinese food industry by virtue of this first ranking list. As time flies, with more comprehensive data, we can look back into the past more clearly to find the hidden rules and predict the future more accurately.

Please reply "Top100 China" in the dialog box of FBIF’s WeChat Official Account to download:

1. 2017 Top 100 Food & Beverage Companies of China. pdf

2. 2017 Top 100 Food & Beverage Companies of China. xls (includes the data source)

Contents

Part One: Analysis of the Ranking List

Part Two: Top 100 List

Part Three: Contact Author, About FBIF

Part One: Analysis of the Ranking List

Top one: WH Group

WH Group Logo

The top five are WH Group (73.921 bn yuan), Yili (59.172 bn yuan), Tingyi (55.273 bn yuan), Mengniu (53.433 bn yuan) and Wahaha Group (52.91 bn yuan). These five companies are also the exclusive companies with total sales over 50 bn yuan on the list. At present, there is no company with total sales over 100 bn yuan.

There is no surprise for WH Group leading the list, as according to the Top 500 Chinese Companies issued by Fortune magazine on July 31, 2017 at www.fortunechina.com, WH Group held the first position in food industry with sales of 143 bn yuan (21.534 bn dollars). On our list, the sales of WH Group is 73.921 bn yuan (11.073 bn dollars, 1USD=6.6752CNY), because we only calculate its meat products (processing food) business and leave out its businesses of fresh pork and hog raising, just like “the Basis of the List” (explanation as below) says. Its meat products business has generated 51.4% of its total revenue, while the profit of this part accounting for 82.5%.

In 2013, Shuanghui Group (the former WH Group) purchased American pork producer Smithfield Foods with 7.1 billion dollars. The deal became the biggest trade among mainland China companies’ acquisition of American companies in the year and made the annual turnover of the newly named WH Group soaring to over 90 billion yuan (the 2016 turnover of Shuanghui was 51.8 billion yuan). WH Group has become the world’s largest company covering businesses of meat products, fresh pork and hog raising. 

WH Group still continues its globalization steps and expands its blueprint by buying European and American enterprises in the way. Nowadays, with Smithfield Foods, WH Group has become an international company whose overseas performance outruns its domestic performance. In its 2016 annual report, it said, “In 2016, businesses in China generated 36% of the Group’s gross turnover, while the turnover of American businesses accounted for 57.4%”.

Yili and Mengniu grow solidly, while Tingyi and Wahaha fall from their peak

During the past four years (since 2013), only Yili Group and Mengniu Diary grew relatively solidly. Yili Group has improved its (overall) performance from 47.8 billion yuan in 2013 to today’s 60.6 billion yuan and Mengniu from 43.36 billion yuan to 53.78 billion yuan.

Wahaha and Tingyi underwent a drop from their peak in 2013, though. The total performance of Wahaha has fallen from its summit of 78.3 billion yuan in 2013 to today’s 52.91 billion yuan, and Tingyi from 66.77 billion yuan to 55.878 billion yuan.

Notes: The revenues of Tingyi from 2013 to 2016 are $10.941 bn, $10.237 bn, $9.103 bn, and $8.372 bn respectively with corresponding exchange rates 6.0969 (2013.12.31); 6.119 (2014.12.31); 6.4936 (2015.12.31); 6.6752 (2017.8.13).

From the above tendency chart, we can see that the growth rate of Yili and Mengniu slowed down while Tingyi and Wahaha fell from their peak and haven’t climbed to its 2013 summit.

Companies established after 2000 and 2010: an emerging power that cannot be neglected

Three Squirrels Logo

Because of lack of ranking information in past years, we could not make a comprehensive comparison for tendency of companies’ ranking. However, from the perspective of the establishment year and growth rate, we can learn that some companies rise rapidly during a short period.

In the list, 16 companies were established after 2000 and only a company established after 2010. The only company is Three Squirrels which was established in 2012.

By leveraging e-commerce, after five years’ growth, Three Squirrels obtained total sales of 4.423 billion yuan in 2016, and ranked 60th in the list. Its growth rate doubles almost every year.

There are other companies that were founded after 2000 and grow fast, including Juewei Food (Rank 73th), Zhou Hei Ya (Ranked 84th), Bestore (Ranked 40th), XIANGPIAOPIAO Food (Ranked 93th), Ausnutria Dairy (Ranked 88th), Shanghai Laiyifen (Ranked 75th), etc.

Ausnutria Dairy: compared with 2015, its sales in 2016 have grown 30.3%.

Zhou Hei Ya: compared with the same period of 2015, its sales in 2016 have grown 15.8%.

Juewei Food: its revenue in 2016 reached 3.274 billion yuan, with year-on-year growth of 12.08.

XIANGPIAOPIAO Food: compared with 2015, its sales in 2016 have grown 18.32%.

…

With the rapid development of economy and in a Chinese market that is pushed forward by internet, e-commerce and new retail, we are totally convinced that there would be great change for each year’s FBIF Top 100.

Part Two: FBIF Top 100 List

Notes:

1. “E” refers to estimated sales. “E 15” refers to the estimated sales in 2015.

2. Food sales only, 100 Million Yuan

3. "L" refers to listing.

#	Company	L	RMB
1	WH Group	Y	739.21
2	Yili Group	Y	591.72
3	Tingyi (Cayman  Islands) Holding Corporation	Y	552.73
4	China Mengniu  Dairy	Y	534.33
5	Hangzhou Wahaha  Group	N	529.10
6	Jiusan Oils  & Grains Industries Group	N	410.47 (2015)
7	Kweichow Moutai	Y	388.41
8	JDB Group	N	295.00
9	Shandong Jinluo Group	N	294.40
10	China Resources  Beer (Holdings) Company Limited	Y	286.94
11	Tsingtao Brewery	Y	258.18
12	China Foods	Y	236.45
13	Luhua Group	N	232.30
14	Wuliangye Yibin	Y	227.04
15	Uni-President Enterprises  Corporation	Y	204.00
16	Hopefull Grain  & Oil Group	N	201.64
17	Want Want China  Holdings	Y	197.10
18	Bright Dairy  & Food	Y	178.17
19	Dali Group	Y	174.10
20	Jiangsu Yanghe  Distillery	Y	167.83
21	COFCO TUNHE  SUGAR	Y	164.00
22	LINGYUNHAI SUGAR  INDUSTRY GROUP	N	163.60
23	Nongfu Spring	N	150.00
24	Foshan Haitian  Flavoring & Food	Y	120.68
25	Beijing Yanjing  Brewery	Y	109.85
26	Jinmailang Mianpin	N	100 (E)
27	China Resources  C’estbon Beverage (China)	N	93.47
28	Jing Brand	N	92.15
29	Guangdong Strong  Group	N	85.00
30	Sichuan Langjiu  Group	N	85 (2015)
31	Luzhou Laojiao	Y	80.74
32	Shijiazhuang Junlebao  Dairy	N	80.00
33	Guangzhou Baiyunshan  Pharmaceutical Holdings Company Limited	Y	77.69
34	Hubei Aoxing  Oil and Grains Industries	N	76.22 (2015)
35	Hebei Yangyuan  Zhihui Beverage Co	N	74 (E)
36	JNC Group	N	70.12 (2015)
37	FUWA GROUP	N	70 (E 15)
38	Heilongjiang Feihe  Dairy	N	68.00
39	FUFENG GROUP	Y	64.43
40	Bestore	N	60.00
41	Standard Foods  Corporation	Y	59.67
42	GUJING GROUP	Y	58.76
43	Synear Food	N	58.37 (2015)
44	Fujian Panpan  Food Group	N	58.00
45	China Huiyuan  Juice Group	Y	57.41
46	Sanyuan Foods	Y	56.00
47	China Resuorces  Dongeejiao	Y	53.71
48	Sichuan Bluesword  Beverage Group	N	53.00
49	Beijing Shunxin  Agriculture	Y	52.70
50	Tenwow Group	Y	52.18
51	New Hope Group	N	50.00
52	China Modern  Dairy Holdings	Y	48.62
53	Sanquan Food	Y	47.68
54	MeiHua Holdings  Group	Y	47.40
55	Changyu	Y	47.18
56	Vitasoy	Y	46.00
57	Laoganma	N	45.49
58	Wondersun	N	45 (E15)
59	Three Squirrels	N	44.23
60	Shanxi Xinghuacun  Fen Wine Factory	Y	43.57
61	Baiyunbian	N	43.54
62	Coconut Palm  Group	N	40.21
63	Baixiang Food	N	36.38 (2015)
64	Wei Chuan  Foods	Y	35.45
65	Lam Soon (Hong  Kong) Limited	Y	35.13
66	Chacha Food  Company	Y	35.13
67	China Shengmu  Organic Milk	Y	34.67
68	China Huishan  Dairy Holdings Company	Y	34.66
69	Guangzhou Zhujiang  Brewery	Y	34.25
70	XIWANG FOOD	Y	33.75
71	XIFENG GROUP	N	33.50
72	Toly Bread	Y	33.05
73	Juewei Food	Y	32.74
74	Nanning Sugar  Industry	Y	32.65
75	Shanghai Laiyifen	Y	31.81
76	V V Food &  Beverage	Y	31.28
77	Namchow Group	Y	31.25
78	Jinmailang Beverage	N	30 (E)
79	Shanghai Maling  Aquarius	Y	30.00
80	EASTROC BEVERAGE	N	30 (E)
81	Fujian Anjoy  Foods	Y	29.97
82	Jonjee Hi-tech	Y	28.95
83	Changshouhua Food	Y	28.79
84	Zhou Hei Ya	Y	28.16
85	Anhui Yingjia  Distillery	Y	27.98
86	Anhui Kouzi  Distillery	Y	27.81
87	Beingmate	Y	27.64
88	Ausnutria Dairy	Y	27.40
89	Jiangsu King's  Luck Brewery	Y	25.27
90	He Bei Cheng  De LoLo	Y	25.17
91	Dao Xiang Cun	N	25.00
92	Synutra International	Y	24.37
93	XIANGPIAOPIAO Food	N	23.89
94	Zhanjiang Guolian  Aquatic Products	Y	23.04
95	BY-HEALTH	Y	22.98
96	Daohuaxiang Group	N	22.9
97	Dachan Great  Wall Group	Y	22.42
98	Zhejiang Yiming  Food	N	22.4
99	ShangHai JinFeng  Wine Company	Y	21.25
100	Hebei Hengshui  Laobaigan Liquor	Y	20.65

Basis of the List

The following information is for your better understanding of the basis of this List and its information source.

Food Manufacturing Industry

1. We only collect sales data of companies falling into the food manufacturing industry. (Most of product categories are quoted from Classified Catalog for Food Production Licenses issued by China Food and Drug Administration with some categories discarded, such as grain processing, starch and derived products, food additives and other food, and some added, such as cooking oil and sugaring.)

2.  Based on above principles, as listed companies have more transparent information, we only collect information related to food. Where there is stated "Others" in their income composition, we take no account of. Therefore, we list a "Listing" column for better understanding. For unlisted enterprises whose major businesses concern food and beverage, as it is difficult to distinguish their income composition, we regard their overall performance as food processing performance. For those unlisted enterprises whose major businesses contain non-food business which accounts for over one forth (subjective judgment), we leave them out.

Enterprise Territorial Scope

1. Only Chinese companies (including Hong Kong and Taiwan companies) are considered when we scheme out this Top 100 Food and Beverage Companies of China.

2. As information is limited, so there is no foreign companies (except companies from Hong Kong, Macao and Taiwan) and companies acquired by foreign companies. We welcome any related figures.

3. The statistic scope of performance covers performance in the whole world, not limited in China.

4. To ensure comprehensiveness of this List, we have researched over 400 companies, including

a) Listed companies related with food, alcoholic drink, agriculture and medicine from China Mainland, Hong Kong and Taiwan

b) Lists of top 100 companies or light industry companies in each province and some big cities

c) Top 10~20 companies of each subdivision category

Data Source

1. We obtain most of companies' sales from their annual reports and data published by authoritative institutions, with only a few data provided by the company directly or our estimation based on open information. To be fair, open and transparent, we give notes on each data source and welcome any correction. Please refer to the "Source" column of this List in Excel version.

2. For listed companies like COFCO Group and Bright Group, we calculate sales figures of their member enterprises separately to avoid needless duplication and for information accuracy. And for other listed companies, such as WH Group whose annual report contains Shuanghui Group and Smithfield Foods, we see all the members as a whole.

3. The estimated sales are based on data provided by companies, mainstream media and other reliable source and according to that, it should be estimated sales in 2015. Companies with only sales available before 2015 are not listed in.

4. For companies without open data, or refusing to provide data, or we have no channels to access to confirm their sales, all these companies are not listed.

5. Considering the limited information we have, or other inevitable mistakes, we accept comments and corrections from our peers.

6. Finally, we hope everyone can provide figures positively to make the list more complete in the future.

Monetary Unit & Exchange Rate

1. All the above figures are measured in RMB per 100 million.

2. Without special declaration, the relevant currency can be calculated by the exchange rate on August 13, 2017.

USD Vs. CNY	1 USD=6.6752CNY
HKD Vs. CNY	1 HKD=0.8536CNY
TWD Vs. CNY	1TWD=0.2204 CNY

Part Three: Contact Author

Mote Chan (Wechat ID: motechenfbif)

FBIF2018

Food & Beverage Innovation Forum 2018 / FBIF2018 (Click to read more), themed as "the Rising of New Categories", will be held in April 18th to 20th in Shanghai, China. Previous FBIF has successfully attracted leading F&B brands such as Coca Cola, PepsiCo, Mondelez, COFCO, Master Kong, UNI-PRESIDENT, Yili, Royal FrieslandCampina, Abbott, Meiji, Mars, Cargill, Glico and Unilever etc. 1800 senior executives from F&B industry are expected to attend FBIF2018. 

/ WeChat Groups /

Add Ada Chen (ID: 15021839607) to join in CEO, CMO, Chief R&D Officer, Functional Foods, FSMP, Infant Food, Dairy, Alcohol, Catering, Beverage, Snacks, Marketing, Dairy, R&D, Packaging, Design, etc. WeChat groups (Group members include seniors from Nestle, Coca-Cola, PepsiCo, AB-InBev, Yili, Mengniu, Master Kong and Nongfu Spring etc.)