China Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Chinese foodservice market is projected to reach USD 1144.23 billion by 2025, registering a CAGR of 7.3% during the forecast period.

The increasing demand for home delivery and foodservice providers is expected to drive the market studied. Increasing health consciousness and growing incidence of obesity among the Chinese population are likely to hinder the growth of the market studied. Market players are introducing new and innovative healthy food, with organic and natural ingredients, in an attempt to overcome the challenges previously faced by the players in the industry. Whereas, full-service restaurant is the dominant segment and is expected to remain so throughout the forecast period. However, the home delivery/takeaway segment is projected to record the fastest growth over the forecast period.

Key Market TrendsRapid Expansion of Global Foodservice Brands

Yum! Brands is the largest foodservice provider in China, with popular brands, such as KFC, Pizza Hut, and Little Sheep, embarking on huge expansion plans across the country, to effectively penetrate their presence in the developing cities, such as Guiyang, Xian Yang, and Hengyang. Whereas the companies, such as McDonald’s and Starbucks Corporation, are also undertaking expansion plans, rolling out innovative menus, and enhancing their portfolio, in order to gain a stronghold in this lucrative market. The effective market penetration of such global giants is further strengthened by the robust growth of online food delivery platforms, such as Ele.me and Meituan Waimai.

Growth in 100% Home Delivery Restaurants

The 100% home delivery is likely to register a significant growth in China, as online ordering reduces the waiting time for customers. Global food chains, such as Pizza Hut Delivery and Domino’s Pizza, are improving their business models in the process, to bring in orders through official websites at any point of time. Many players in China have partnered with websites, such as Ele.me, Fanting.com, and Waimaichaoren.com, which provide full menus from various restaurants, as well as ordering and home delivery services that consumers can access from their smartphone, with the rise in the advent of digitalization.

Independent restaurants offering home delivery are also quickly gaining popularity in China, especially among busy urbanites and may become an important service that is used to differentiate the existing establishments, by providing more value to the consumers.

Competitive Landscape

The Chinese foodservice market is highly fragmented, with the presence of numerous local players. A few of the local players, who hold a prominent market share are Xiao Wei Yang Chained Food Service Co. Ltd, China Quanjude (Group) Co. Ltd, Ting Hsin International Group, South Beauty, etc. Global players, such as Yum! Brands, hold a prominent share, as there is an increased inclination toward pizza and other North American fast food.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Yum! Brands
Burger King
McDonalds
Starbucks Corporation
Dominos Pizza
Papa John's International Inc.
Inner Mongolia Xiao Wei Yang Chained Food Service Co. Ltd
China Quanjude (Group) Co. Ltd
Doctor Associates Inc.

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