Catering chain store revenue in China 2012-2022

The growth of the middle class in China has led to higher rates of consumption, further propelling the country’s GDP. The catering industry has been one of the many beneficiaries of this phenomenon, as more and more people are able to afford these services to celebrate special occasions. In 2022, catering chain stores in China with a revenue of two million yuan or above generated a total turnover of around 233.3 billion yuan.

Viable market before the crisis

As of 2022, more than 47 thousand catering chain stores were in operation across the country, with fast food chain restaurants being the largest revenue generators. Forecasts before the coronavirus (COVID-19) pandemic for restaurant chains revenue estimated a tremendous increment in 2022. With such an opportunity, the Chinese market was bound to be collaborating with several competitors in the catering industry. Some of the largest domestic catering chains include YUM China and Haidilao Group.

Changing dining out habits

A consumer survey in 2018 pointed out that more Chinese people rarely chose to cook at home. The frequency of eating out increased by over 50 percent in that year. However, the coronavirus pandemic had severely affected China’s dining scene. Temperature checks and social distancing were the new norms at restaurants. Another significant change has been the accelerating merge of offline with online food services. The pre-pandemic boom of mobile payment usage and food delivery market has been pushed further when the country cautiously returned to normalcy.