Core Insights - The Chinese dining industry is undergoing significant transformation, driven by increased consumer spending and the proliferation of the internet, leading to a promising outlook for 2024 [1][5] - Traditional Chinese cuisine remains dominant, capturing approximately 70% of the market share, while new beverage trends, particularly among younger consumers, are emerging as key growth drivers [1][5] - The dining experience is evolving from mere sustenance to a focus on enjoyment and social interaction, with casual dining and snack options gaining popularity [1][5] Market Overview - The Chinese dining retail market is projected to generate revenues of 5.57 trillion RMB in 2024, accounting for 37% of national food consumption expenditure and 12% of overall retail sales [5][14] - Within this, traditional Chinese cuisine represents over 3.8 trillion RMB, while beverages and snacks contribute 1.2 trillion RMB, showing high growth potential [5][14] - The restaurant density in China is significantly higher than in the U.S., with 87 restaurants per 10,000 people, indicating room for growth in non-main meal categories [5][21] Growth Projections - Industry experts predict a compound annual growth rate of around 5% over the next five years, with the market expected to reach 7 trillion RMB by 2029 [5][35] - Among 49 sub-sectors, 18 are identified as high-growth areas that will contribute over 70% of market expansion [5][35] Consumer Trends - The demand for dining experiences is shifting towards three key scenarios: enjoying local flavors, social dining, and quick snacks, reflecting changing consumer preferences [5][32] - The beverage market, particularly tea and coffee, is experiencing rapid growth, with tea drinks alone expected to reach 3.4 trillion RMB [5][27] Competitive Landscape - The concentration of leading brands in the dining sector is low, presenting numerous opportunities for new entrants and potential public listings for emerging brands [5][27][28] - The industry is characterized by intense competition, with a notable increase in the number of new establishments, particularly in casual dining and snack categories [5][18]
2025年中国餐饮市场全景图及市场展望报告
Sou Hu Cai Jing·2025-06-19 14:05