Restaurants and Food Services Market in China 2023

Restaurants and Food Services Market in China 2023

Restaurants and food services are businesses that provide food and drinks to customers in a variety of settings, such as sit-down restaurants, fast food chains, cafes, bars, and catering services. These businesses can range from small family-owned operations to large multinational corporations. Restaurants and food services play an important role in the economy, providing jobs and generating revenue. They also provide an essential service to consumers by offering convenient and affordable options for meals and social gathering. According to the latest estimates, the restaurants and food services market in China is set to achieve an incremental growth of USD 327.3 billion, accelerating at a CAGR of almost 6.85% during the forecast period 2023-2029.

This industry report offers market estimates of the China market, followed by a detailed analysis of the operating model, and service type. The China market data on restaurants and food services can be segmented by operating model: franchise, non-chain, self-operated chain. The non-chain segment held the largest revenue share in 2022. Restaurants and food services market is further segmented by service type: casual dining restaurant, formal dining, quick-service restaurant, others. Formal dining held the highest share in the China restaurants and food services market. However, the quick-service restaurant segment is forecast to register the highest CAGR during the forecast period 2023 - 2029.

The China restaurants and food services market is highly competitive. Top players covered in China Restaurants and Food Services Market Study are Burger King Corporation, Beijing Huatian Catering Group, Hangzhou Diet Service Group Company Ltd., Hidilao International Holdings Inc., Home Original Chicken Co. Ltd., Shanghai Xinghualou (Group) Co. Ltd., Starbucks Corporation, Xiabu Xiabu Catering Management Co. Ltd., Yum! Brands Inc.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive coverage of the market across different market segments, the report is a valuable asset for the existing players, new entrants and the future investors.

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