Emerging Players in China Catering Market: Ken Research : Toevolution

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Chain Structure; Chain operation had become the fastest-expanding business model for the catering industry in China. In 2020, the revenue generated from larger catering chain stores amounted to 202 billion yuan. Yum China is one of the largest national full-service restaurant operators in China with nearly 11,800 outlets in 2021. It is the parent company of KFC, Pizza Hut, Taco Bell operated in the country, as well as all East Dawning and Little Sheep restaurants. Other prominent local players include the time-honoured brand Quanjude, famous for its Beijing roast duck, hot pot chains like Haidilao and its imminent rival Xiabu Xiabu. After its huge success in China, Haidilao opened its first restaurant in London in April 2019, which attracted long queues of enthusiastic diners.

Catering services China

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Online takeaways; with the advanced development of online-to-offline (O2O) services, catering services are becoming more closely connected with the internet. In 2021, a record number of 544 million people used online food delivery in China. Instead of paying with cash, consumers can easily pay by scanning the QR code in restaurants and street food hawkers as well. Diners can read the menu and order the food through the restaurant apps while they are waiting for a table online. Food delivery services are not only booming due to the pandemic, but also because of low logistic costs and a decreasing interest in cooking at home. Besides consumer behaviour changes, more and more catering providers utilize a smart management system based on big data, which help them better understand consumers’ preferences and make changes accordingly.

Analysts at Ken Research in their latest publication, “China Catering Market Outlook 2027F- Driven by increasing demand & innovative business models” by Ken Research observed that China Catering Market is in a growth phase & is expected to witness a growth rate of ~% in the upcoming years owing to increasing government initiatives & technological innovations. It is to be noted that the China Catering market is fragmented with major brands occupying almost half of the market with companies competing not only on the basis of product quality and promotion but also on the basis of strategic moves with the aim of capturing a larger market share.

Key segments covered: -

By type of Catering

Event catering
Government/defence Catering
Industrial Catering
Airline Catering
School Catering
Hospital catering

By Structure

Chained outlets
Independent Outlets

Time Period Captured in the Report:

Historical Period: FY’17- FY’22P
Base Year: FY’22P
Forecast Period: FY’22P – FY’27F

Key Target Audience

Airline Catering Companies
Fine Dining Caterers
School Caterers
Hotels
Industrial Caterers
Government Bodies
Facility Management Companies
Industries
Schools
Hospitals

Key Companies Covered