China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Summary

“China Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the Chinese Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.

China recorded nominal GDP per capita growth of 5.4% in 2022, down from 13.3% in 2021. The Chinese economy slowed down as its stringent zero-COVID policy hampered economic activity. Tourism was subdued and consumer confidence was low. The implementation of a one-child policy between 1980 and 2016 impeded the country’s population growth. In 2022, the population decreased by 0.1% annually. The value of the Chinese profit sector stood at CNY5.7 trillion ($841.6 billion) in 2022, having declined at a negative CAGR of 0.2% during 2017-22. While the number of outlets increased at a CAGR of 1.4% during this period, the number of transactions registered a negative CAGR of 1.5%.

The report includes -

• Overview of China's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the 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 the 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 value of the Chinese profit sector stood at CNY5.7 trillion ($841.6 billion) in 2022, having declined at a negative CAGR of 0.2% during 2017-22. While the number of outlets increased at a CAGR of 1.4% during this period, the number of transactions registered a negative CAGR of 1.5%.
• A steep fall in dine-in transactions caused the overall number of transactions to decline.
• The Chinese QSR market has become an attractive space for global fast-food chains. The coming years will see more global brands entering the channel.
• Operators’ convenient and time-saving offerings, along with their embrace of takeouts, enabled the QSR channel to stay resilient amid challenging economic and social conditions in 2022.
• Healthy and nutritious ingredients have become a priority for consumers when making a purchase at a QSR.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022-27) 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 understand the wants and needs of their target demographics.