As our living standards continue to improve, our requirements for the quality of life are also gradually improving, and baked goods such as biscuits with the advantages of nutrition, health, convenience, and product variety have entered a period of rapid growth in our country, and are gradually becoming more and more popular in the market. Everyone likes it more and more. In such an environment, it has created a good environment for the development of the biscuit production line. At the same time, the emergence of the biscuit production line has also promoted the stable development of the baking industry.
The Chinese baking industry started relatively late, and it did not enter a period of rapid development until after 2000. In recent years, with the accelerated pace of people's life and the penetration of Western food culture, the market size of the industry has continued to increase. Data shows that in 2018, the market size of my country's baking industry reached 203.3 billion yuan, with a 5-year compound growth rate of about 7.5%. In 2019, the size of my country's bakery food market was about 231.7 billion yuan, with a year-on-year growth rate of 10.9%. It is estimated that in 2020, the size of my country's bakery food market is expected to reach 256.7 billion yuan.
The bakery food industry is one of the most popular industries in China. It is an industry that is less affected by economic fluctuations among mass consumer goods, covering bread, cake, and biscuits. With the gradual expansion of market demand, bakery products are increasingly diversified, with bread accounting for about 44%, which is an important branch of the bakery industry. Second, cookies and other baked goods account for about 39%, and finally the cake industry accounts for about 17%.
Among them, biscuits, as a sub-category of baked goods, have developed rapidly in the market in recent years and have maintained a steady development momentum. It is expected that the total retail sales in 2020 is expected to exceed 87.9 billion yuan, and the compound annual growth rate in the past five years is expected to reach 6.6%. my country's biscuit industry is developing rapidly, and the demand for biscuit production lines has maintained a good growth trend. Biscuit production lines have also improved the production capacity of enterprises and ensured the quality of products.
