Market Size of China Foodservice Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.42 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Food Service Market Analysis
The Chinese food service market is projected to register a CAGR of 7.42% during the forecast period (2023-2028).
China's foodservice market is primarily driven by the increasing frequency of dining out amid time-pressed schedules and the growing influence of Western dietary patterns, due to the presence of international companies particularly in urban areas. Additionally, the market is being driven by factors such as the growing percentage of the young and working population and the availability of organized food service restaurants offering quality food and services. Subsequently, the rapid growth of the fast-food sector in the country has led to an expansion of more food chains in the quick service sector, thus, benefitting the overall market studied.
As app-based delivery is growing in China, restaurants find it cheaper to service online from a cloud kitchen. Thus, the growing number of cloud kitchens in the country is further supporting the market studied. Furthermore, the market players in cloud kitchens are also incorporating 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.
With digital natives contributing a larger share of transactions in the future, growth in the usage of technology in ordering and deliveries is inevitable is projected to record the fastest growth over the forecast period. Therefore, the above-mentioned factors are bound to support market growth during the forecast years.
