China News Service, Beijing, November 25 (Reporter Du Yan) The latest "Report on China's Chain Catering Industry 2021" shows that the size of China's catering market has increased from 2.9 trillion yuan in 2014 to 4.7 trillion yuan in 2019, and is affected by the epidemic. The impact will decline by 15.4% to 4.0 trillion in 2020, but it is expected that the market size will return to 4.7 trillion in 2021, and the market size will reach 6.6 trillion in 2024.
Today, the reporter learned from the China Chain Store & Franchise Association that the association and Huaxing Capital jointly issued a report.
The report integrates the data of 21 listed catering companies, the survey data of more than 60 leading chain catering companies, and the judgment data of decision makers. More than 40 related reports and data were referenced and quoted, and it took 3 months to compile and complete.
The market size is expected to recover to 4.7 trillion in 2021
The report pointed out that China's catering market has been growing healthily. The market size has grown from 2.9 trillion yuan in 2014 to 4.7 trillion yuan in 2019, with a compound annual growth rate of 10.1%.
Due to the impact of the epidemic, the size of the catering market will drop by 15.4% to 4.0 trillion in 2020, but it is expected that the market size will return to 4.7 trillion in 2021. After that, the industry will resume healthy growth, and the market size can reach 6.6 trillion in 2024.
The Chinese catering industry can be divided into three market segments: Chinese food, Western food and other dishes, accounting for 79.4%, 15.2%, and 5.4% (2019).
The size of the Chinese food market has increased from RMB 2.3 trillion in 2014 to RMB 3.7 trillion in 2019, with a compound annual growth rate of 9.2%.
The size of the western food market has increased from RMB 0.3 trillion in 2014 to RMB 0.7 trillion in 2019, with a compound annual growth rate of 12.8%.
Data shows that the number of stores in China's catering market is rising in volatility.
As of 2020, the number of catering stores in China has reached 6.53 million, a decrease of 11% year-on-year, mainly because the epidemic has led to the departure of some small and medium-sized catering companies.
Consumers’ favorite flavors top three: spicy, light and fresh
The report pointed out that China's catering industry is rich in cuisines, and consumers have many choices.
Among many cuisines, hot pot is the category with the largest market scale among all Chinese restaurants, and Sichuan cuisine ranks second among all categories.
From the perspective of user consumption scenarios, gatherings are the most important in-store dining scene.
Friends/colleagues/classmates gathering, pursuit of taste and daily catering are the three most important scenes of daily dining, accounting for 31.2%, 17.0% and 16.3% respectively. The proportion of dining out at noon and weekend evening is higher.
According to the survey of consumers' dining attention factors, the top three factors that consumers are most concerned about when choosing restaurants are the taste of the dishes, the restaurant's price-performance ratio, and the internal dining environment.
The factor of dish taste accounted for 71.7%, which was significantly higher than other factors. It can be seen that the most important demand of current consumers for eating out is still the pursuit of taste.
According to consumers' favorite taste data, spicy, light and fresh ranks the top three.
Among them, consumers who like spicy taste accounted for 41.8%, consumers who liked light taste accounted for 23.7%, and consumers who liked fresh taste accounted for 20.3%.
Takeaway has developed into a new factor driving the development of the industry
Benefiting from the online consumption tendency of young people, China's food delivery industry continues to grow rapidly.
The report shows that China's takeaway catering market will reach 664.6 billion yuan in 2020, a year-on-year increase of 15.0%.
The data shows that in 2020, online catering orders will maintain rapid growth as a whole. Except for February-April when the epidemic is particularly severe, the other months have achieved positive year-on-year growth, and the year-on-year growth of orders will basically remain at 70% in the fourth quarter of 2020. % And even achieved a doubling of 107.9% in December.
The report pointed out that it is expected that under the current environment of normalization of epidemic prevention and control, the food delivery industry may continue to develop strongly.
The strong growth of food delivery has also given food and beverage outlets an opportunity to expand their income and reach more consumers: According to field research, the proportion of food delivery in some traditional food and beverage outlets has reached 50% or even higher.
Catering capitalization is in full swing
The report pointed out that based on the increase in revenue of catering stores based on food delivery, more applications of new social media in the catering industry, the promotion of single products, and the improvement of infrastructure have made standardization easier, and the capitalization of catering is in full swing.
In terms of the amount of financing, the investment and financing of the catering industry showed an overall growth trend before 2018. Since 2018, the investment and financing enthusiasm has gradually declined, but after the 2020 epidemic, the enthusiasm for capital has risen again.
As of August 2021, the investment and financing amount of China's catering industry was 43.91 billion yuan, twice the amount in 2020.
In terms of the amount of financing, 2015 was the peak of the number of investment and financing transactions in the catering industry, and it has been on a downward trend since then.
The transaction amount in 2021 will surpass that in 2020, but the increase in the number of transactions is limited, indicating that the current capital investment in the catering industry is more biased towards large-scale catering companies with a large single amount.
The above point can also be verified from the distribution of financing rounds.
Compared with 2019, the most important feature of investment and financing in the catering industry in 2020 and 2021 is that the proportion of B rounds, strategic investments and other late-stage investments has increased significantly; the proportion of early-stage investments such as Pre-A rounds and A rounds has increased. decline.
From the perspective of subdivision of the track, according to the number of financing, the three tracks of snacks and fast food, coffee, and tea are the most sought after in the primary market.
Ranked by financing amount, tea, coffee, and hot pot accounted for 40.5%, 15.7%, and 13.1% of the industry's financing amount from January to July, respectively.
Digital transformation is happening
In the era of mobile Internet, catering, like all traditional industries, is facing new opportunities and challenges given by this era.
At present, the leading catering companies have long been working hard on digital upgrades and have reaped dividends.
The report pointed out that among the many digital technologies, catering companies are most concerned about big data, artificial intelligence, and the Internet of Things. These technologies have been widely used in the catering industry and have achieved initial results.
The report believes that big data can help precise market positioning in the catering industry. By analyzing and researching market data, companies can better position their brands; big data can help companies fully understand market information, grasp the dynamics of competitors, and know the industry. The competitive landscape.
Companies can use consumer profile data to analyze customers’ consumption behaviors and value orientations in order to improve and innovate products, or make more reasonable menu pricing; artificial intelligence allows robots and AI systems to bring customers better meals Experience, and the Internet of Things technology can empower catering companies to streamline the supply chain and reduce costs.
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