研报掘金丨国盛证券：甘源食品在产品端实力表现突出，扩海外市场增量

格隆汇2025-07-29

国盛证券研报指出，甘源食品风味优势品类延展，渠道红利叠加拓展。2021年后零售渠道变革也催生了新的渠道流量红利，大单品天然适配全渠道销售，甘源快速拓展量贩零食店、会员店等新兴渠道，实现第二曲线与渠道红利叠加双击成长。2024年公司实现营收22.6亿元，过去三年CAGR达20.4%，同时老三样以外产品占比从2020年拓展风味坚果之初的32.6%持续提升至2024年50.9%。当前公司进一步延展风味...

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