The business revenue of catering services in China has shown a consistent upward trajectory from 2013 to 2023, with occasional dips. In 2023, the sector stood at 8.17 hundred billion yuan, showing a year-on-year increase of 5.21%. Significant growth spurts include 2019’s 16.62% increase and 2021’s 32.05%, while there were temporary declines in 2020 and 2022. The forecast indicates a steady rise from 2024, with a projected 5-year compound annual growth rate (CAGR) of 3.4% and a total growth rate of 18.21% by 2028.
Future trends to watch for in the Chinese catering industry include:
- Technological advancements in food delivery and automation
- Increasing consumer preference for healthy and sustainable food options
- Potential disruptions from global economic fluctuations and regulatory changes
- Expansion of online catering services and digital marketing strategies
