牛肉干來了 下一個百億美元市場

Five or ten years ago, Hershey’s announcementthis week that it will acquire a maker of jerky snacksmight have seemed a little odd, if not downrightweird. But we seem to be in the midst of a dried-meat explosion, and buying Krave Pure Foods mightbe the best possible move the struggling Hersheycould make.

好時公司本周宣布將收購一家牛肉干生產(chǎn)商，此舉如果放在五年或十年前，肯定會被許多人認(rèn)為不可思議，或者至少有點奇怪。但現(xiàn)在我們似乎正處在肉干大爆炸的時代。對處于困境的好時公司來說，收購Krave Pure Foods食品公司或許是最好的選擇。

 

 

Hershey’s reliance on chocolate snacks puts it at the mercy of fickle commodities markets.Prices for both milk and cocoa have spiked recently, forcing Hershey to raise prices, andcrimping its margins. Cocoa prices are falling now, but that’s largely in response to weakeningglobal demand due to macroeconomic forces like China’s slowdown.

對巧克力類零食的依賴，使得好時公司一直受制于波動起伏的大宗商品市場。牛奶和可可豆的價格最近迅速上漲，不僅迫使該公司提高售價，還蠶食了它的利潤?？煽啥沟膬r格現(xiàn)在已有所下降，但這在很大程度上是宏觀經(jīng)濟(jì)力量(比如中國經(jīng)濟(jì)放緩)導(dǎo)致全球需求疲軟所帶來的反應(yīng)。

At the same time, Americans and other Western consumers are increasingly opting for protein-based snacks in favor of sugary ones. By picking up a major purveyor of jerky, Hershey isdirectly targeting the consumers it has lost to that trend—and often right in the same groceryaisle.

與此同時，美國和其他西方國家的消費者越來越傾向于選擇蛋白質(zhì)類零食，而不是含糖食品。通過收購一家大型牛肉干供應(yīng)商，好時公司正在將營銷目標(biāo)直接對準(zhǔn)因這種趨勢而流失的那部分消費者——他們并沒有走遠(yuǎn)，通常還在相同的雜貨店通道，只不過現(xiàn)在挑選的是牛肉干。

But this is not your father’s (or great-grandfather’s) dried-meat snack. Jerky is undergoingsomething of a renaissance. The word “artisanal” is actually being applied to many of theseproducts, which command high retail prices. Krave’s varieties include “Basil Citrus Turkey,” “Curry Beef,” “Honey Chipotle,” and “Smoky Grilled Teriyaki Pork.” These products are a far cryfrom the mass-produced tubes that are ConAgra’s Slim Jim sausage snacks, or the faux jerkythat is basically ground-up meat mush flattened into strips — but is often labeled “jerky,”though with the caveat “ground and formed” or “chopped and formed” appended. Real jerky issliced from a single piece of meat, salted and cured. The quality of the meat, and the additionof flavorings, is what pushes it into the “high end” category.

但這可不是你的父親或曾祖父吃的肉干小吃。牛肉干正在經(jīng)歷一次復(fù)興。許多產(chǎn)品均被冠以“手工制作”的名號，這往往意味著更高的零售價格。Krave公司的牛肉干產(chǎn)品包括“羅勒柑橘土耳其口味”、“咖喱牛肉味”、“蜂蜜墨西哥風(fēng)味”和“煙熏烤豬肉味”。這些產(chǎn)品完全不同于康尼格拉公司批量生產(chǎn)的Slim Jim香腸，或那種使用研磨好的肉泥制成的牛肉干，后者通常也會打上“牛肉干”標(biāo)簽，但一般都會帶有“研磨成型”和 “切碎成型”等警告信息。真正的牛肉干是從一整塊肉上切下一小塊，然后經(jīng)過腌制和熏制制作而成。牛肉的品質(zhì)和添加的調(diào)味品，讓Krave牛肉干成為一種“高端”食品。

The recent jerky explosion really started more than a decade ago, though it has trended upmore recently. “If only a few years ago, jerky seemed an old-fashioned kind of food,” TheEconomist observed in 2006, the carniphilia inspired by the Atkins diet has given it a new life.”

最近的牛肉干大爆炸其實肇始于十多年前，只是近期開始迅速流行起來。《經(jīng)濟(jì)學(xué)人》雜志早在2006年就指出：“幾年前，牛肉干還被視為是一種老式食物。然而，阿特金斯健康飲食法引發(fā)的熱潮令其重新煥發(fā)光彩。”

Hershey might be a little late to the party, but at least it’s finally here.

好時公司進(jìn)軍這個行業(yè)的時機(jī)有些晚，但遲做總比不做好。

Krave was launched in 2010 in the Wine Country town of Sonoma, Calif., after its founder, JonSebastiani, took to eating jerky while training for marathons.

2010年，Krave公司創(chuàng)始人喬恩o塞巴斯蒂亞尼在進(jìn)行馬拉松訓(xùn)練的時候，品嘗了一塊讓他久久不能忘懷的牛肉干，隨后就在加州索諾瑪?shù)钠咸丫凄l(xiāng)創(chuàng)立了這家公司。

In August, the company reported that it had become the No. 2 jerky brand in U.S. grocerystores, and that it expected revenues this year to be 300% greater than the $16.9 million itreported in 2013. Numbers were not disclosed for the Hershey deal, but Reuters estimates itwas worth between $200 million and $300 million.

Krave公司8月份發(fā)布報告稱，它已經(jīng)成為美國食品雜貨店的第二大牛肉干品牌，今年的營收預(yù)計將比2013年的1690萬美元增長300%。好時公司并未公布這筆收購交易的數(shù)據(jù)，但路透社估算稱，交易金額應(yīng)該在2億至3億美元之間。

Krave is not alone in the market. There are many purveyors of “high end” jerky, including Jeff’sFamous and Gary West Artisan Smoked Meats — whose angus beef-based product The TodayShow once dubbed “the Rolls Royce of jerky.”

Krave并非一家獨大。市場上有許多“高端”牛肉干供應(yīng)商，如Jeff's Famous和Gary West手工煙肉——《今日秀》節(jié)目曾將Gary West的安格斯牛肉產(chǎn)品稱為“牛肉干中的勞斯萊斯”。

Prices (and, it’s safe to assume, margins) in this segment tend to be hefty. Krave’s BlackCherry BBQ Pork Jerky is selling for $18 on Amazon for a single package — the 16-ounce “valuebag.” CBS Newsreported earlier this month that the gourmet grocer Dean & Deluca wasselling bison jerky for more than $70 a pound in New York City, and that jerky sales haveincreased by $1 billion in the past five years alone. The market is worth about $2.5 billion now,according to the Hershey, and there seems to be plenty of more growth ahead.

這類產(chǎn)品的價格往往很高，利潤估計也相當(dāng)可觀。一包16盎司“超值袋裝”Krave黑櫻桃叉燒豬肉干在亞馬遜的售價為18美元。本月早些時候，CBS新聞臺報道稱，紐約市食品零售店Dean & Deluca出售的美洲野牛肉干的價格超過每磅70美元。僅在過去五年間，牛肉干的銷售額就增加了10億美元。據(jù)好時公司透露，目前該市場的價值約為25億美元，而且未來仍有巨大的增長空間。

It would be far too facile (and a little offensive) to say that the recent Ebola crisis led to richesfor Sebastiani and a new strategy for Hershey. Nevertheless, a line can be drawn between thetwo events. Cocoa prices last year spiked for a bunch of reasons, but one of them waspotential shortages if the disease were to spread to the Ivory Coast, the top cocoa producingcountry. (West Africa as a whole produces about 70% of the world’s crop.)

如果說近期的埃博拉病毒危機(jī)給Krave創(chuàng)始人塞巴斯蒂亞尼帶來了財富，并促使好時公司改變了策略，那未免太過膚淺，甚至有些無禮。但兩件事之間確實有一定的聯(lián)系?？煽啥沟膬r格在去年暴漲有許多原因，其中之一便是擔(dān)心埃博拉病毒蔓延到科特迪瓦造成供應(yīng)短缺，因為科特迪瓦是可可豆的頭號生產(chǎn)國。(西非的可可豆產(chǎn)量約占全世界產(chǎn)量的70%。)

That never happened, and cocoa prices are dropping fast. But for Hershey, the damage wasdone, aided by rising dairy prices and softening global demand. The country’s biggestchocolate maker is doing what many formerly sweets-addled Americans are doing: adding moreprotein to its diet. And like them, it’s likely to feel better for it.

這一幕并未出現(xiàn)，可可豆價格迅速下跌。但對于好時公司來說，因乳制品價格上漲和疲軟的全球需求造成的損失業(yè)已形成。這家美國最大的巧克力制造商正在做許多吃糖成癮的美國人正在做的事情：給自己的菜單中添加更多蛋白質(zhì)。像這些美國人一樣，這樣做肯定也能讓好時公司變得更加健康。(財富中文網(wǎng))