The Chinese food service restaurant market is expected to grow at a CAGR of 11.5% during the forecast period of 2018 - 2023.
Food service restaurants are various types of chain and independent foodservice providers.
China is the largest market for foodservice restaurants, globally, ahead of the US, which is the second largest market.
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Growing Popularity for Online Food Delivery
The primary factors driving the market for food service restaurants are the increased dining out for socializing, business meetings, family gatherings, gathering with friends and the unwillingness of consumers to cook at home.
The growth of multinational industries in China has increased international business travelling. This has made way for the interest among consumers for exotic and various international cuisines, which is driving the food service sector market in China.
Moreover, the Chinese consumers have shown great interest towards coffee consumption in recent years, despite, being a tea-consuming nation given the influence of the Western work culture. However, an increase in the cost of living and internet penetration in China online delivery have affected to the market growth.
The economic slowdown in China and many food safety concerns have had their negative impact on the foodservice industry in the country.
Fast food service restaurants focus on organic produce, and healthy food dishes are the future spotlight for the market. At present, organic foods are at a nascent stage in China, which is expected to increase because of the growing consumer awareness about organic foods and food safety issues in China.
Moreover, the investment in fast-casual restaurant model, as compared to traditional food chain restaurants, will provide a good opportunity as it will boost the local economy.
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Full-Service Restaurants Hold the Largest Market
The market has been segmented into the type of food service sector, structure type, distribution channel and the Chinese full-service restaurant (FSR). The total consumer foodservice market is divided into full service restaurants, fast food restaurants, cafes/bars, pizza foodservice, street stalls and kiosks, self-service restaurants, and 100% home delivery restaurants.
Full-service restaurants hold the largest market share, followed by fast food restaurants. Cafes and bars are growing at a fast rate due to the increased coffee consumption in China.
Full-service restaurants are further segmented into Asian FSR, European FSR, North American FSR, Pizza FSR and other FSR. Regarding the type of restaurant, the market is segmented as independent consumer foodservice and chained consumer foodservice.
Chained consumer food service market is growing at a fast rate due to the increased investments by international brands such as the US and the UK chain restaurants in China. Chinese foodservice market, by the distribution type, is categorized into eat-in restaurants, take away, home delivery and drive-through restaurants.
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Major players: MCDONALD'S CORP, YUM! BRANDS INC., BURGER KING WORLDWIDE INC., STARBUCKS CORP., CHINA QUANJUDE (GROUP) CO. LTD., DOCTOR'S ASSOCIATES INC., SEVEN & I HOLDINGS CO.
LTD., WHITBREAD PLC, UBC COFFEE FOOD CO. LTD.
- March 2017: Yum Brand’s deal in China with Chinese e-commerce leader Alibaba should give shareholder a tasty meal.
- April 2017: Starbucks CEO has announced to open 2500 new stores in China in the next five years.
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet (in excel).
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