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China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

  • August 2022
  • 120 pages
  • ID: 6323767
  • Format: PDF
  • GlobalData

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China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

Summary
"China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026” published provides extensive insight and analysis of the Chinese Foodservice market over the next five years (2021-2026) and acts as a vital point of reference for operators or suppliers.

The Chinese profit sector generated total revenue of CNY6,110.6 billion ($947.5 billion) in 2021, registering a CAGR of 3.3% from CNY5,194 billion ($781.7 billion) in 2016. This growth was led by the increase in the number of transactions and the number of outlets during 2016-21. The outbreak of the Delta variant of COVID-19 in mid-2021 quickly turned into a regional outbreak impacting 16 provinces. Many major cities were locked down and strict measures were implemented across the country. Consequently, these actions led to a decline in travel, canceled holidays, and fewer social activities, which hampered the profit sector. Home deliveries and take-aways played a significant role in the sector in 2021. Take-away sales grew at a CAGR of 16.1% during 2016-21, while dine-in sales registered a negative CAGR of 2.4%. Independent operators continued to dominate China’s profit sector in terms of sales. However, chain operators fared better than independent operators during the pandemic owing to their greater financial stability and quick adaptation to changing consumer demands. In addition, many operators chose innovative ways to survive during the pandemic and were able to diversify their product offerings by focusing on deliveries. They also updated their menus by adding meal kits and ready-to-eat/ready-to-cook products, along with expanding into retail.

The report includes -

- Overview of China macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Chinese foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution.
- Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, coffee & tea shop, and pub, club & bar) within Chinese foodservice market, including the value of the market, number of transactions, number of outlets, and average transaction price.
- Customer segmentation: identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the Chinese population.
- Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope
- The FSR channel accounted for the highest value sales in 2021, at CNY4.1 trillion ($635.3 billion). The channel recorded moderate growth during 2016-21, at a CAGR of 3.6%, driven solely by delivery and take-away sales. The outbreak of the Delta variant of COVID-19 led to the implementation of strict public restrictions, including the closures of many tourist locations.
- As a result, operators turned to delivery, take-away, and drive-thru services in 2021 to survive another round of partial closures and restrictions.
- QSR was the second-largest channel in the Chinese foodservice profit sector, with a share of 22% in 2021. QSR was followed by accommodation and pub, club & bar channels, with value shares of 2.7% and 2%, respectively, in 2021.
- Despite limitations on supply and operations amid the pandemic, the QSR channel’s sales grew from CNY1,151 billion ($173 billion) in 2016 to CNY1,344 billion ($208 billion) in 2021, registering a CAGR of 3.2%, primarily driven by the rise in take-away and home delivery sales as consumers avoided dine-in occasions amid the COVID-19 pandemic.

Reasons to Buy
- Specific forecasts of the foodservice market over the next five years (2021-2026) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar) will allow readers to understand the wants and needs of their target demographics.

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