The Tourism employment in Foodservice segment in China, registered a value of USD 5,622.63 million in 2021
The indicator recorded a historical growth (CAGR) of 2.15% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Tourism employment in the Foodservice segment in China experienced a huge growth in 2020.
Food service is valued according to total sales of all food and drink (soft and alcoholic) in or through accommodation outlets, pubs, clubs, bars, full-service restaurants, quick-service restaurants and fast food, and others.
Category segmentation
Foodservice is the largest segment of the travel & tourism industry in China, accounting for a major stake of the industry's total value.
Factors that affect the foodservice industry in China
Food service is not essential to buyers, eating out is a leisure experience that can be avoided in difficult financial times. This means that price has a strong effect on demand and many restaurants and cafes will offer deals and discounts at off-peak times to attract customers who would not necessarily be drawn in at a full price. Other tactics that foodservice players use include limited-time menu items and loyalty schemes through which they offer a reward for repeat custom.
Who are the leading players in the foodservice segment in china?
The leading player in the Chinese foodservice industry is Yum China Holdings, which operates a variety of brands including Pizza Hut, KFC, and Taco Bell. China has the largest KFC outlets globally and it was the first fast-food brand to enter the country in 1987. Yum China Holdings separated from Yum! Brands in 2016 and has become an independent publicly-traded company.
McDonald’s is a leading player in the Chinese foodservice industry, operating under a master franchise agreement with Golden Arches (China). There are many McDonald’s restaurants in operation in China.
Starbucks had outlets in operation across many cities in the country. Starbucks is focusing on diversifying its revenue streams with an expanded food option, as well as renovating its existing stores and concentrating on the customer experience.
Pala Catering Management offers the quick service and fast food segment of this industry. The company offers delivery of its menu items through a partnership with Tencent WeChat.
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