中国银河证券：大健康食品与便捷化食品有望进入放量阶段

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瑞财经严明会近日，中国银河证券发布研报表示，若2026年宏观经济恢复节奏仍然偏温和，认为食品饮料行业仍以结构性机会为主：1）新消费仍具持续性，但板块内部或有轮动；2）部分传统消费供给逐渐出清，需求改善有望推动板块修复，例如乳制品、速冻食品等。与市场观点不同，其认为2026年新消费将出现内部轮动：1）新渠道方向，山姆与零食量贩将从高速开店逻辑切换至格局优化逻辑，而渠道自有品牌与多品类折扣业态有望...

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