Listed companies in the online takeout industry chain: Guangzhou Restaurant (603043.SH), Quanjude (002186.SZ)

The core data of this article: Changes in catering industry revenues, the market size of the online takeout industry and its proportion in the catering industry, the online takeout industry number of users and utilization rate, number of takeout users of different age groups ordering meals and dining, age distribution of takeout users in China

Industry scale grows against the trend

People rely on food, and the catering industry has always been a flourishing industry in China.Since 2012, the market scale of the catering industry has been growing steadily, from 2012's 2.34 trillion yuan to 4.67 trillion yuan in 2019, with a compound annual growth rate of 10.38% during this period.

But in 2020, due to the impact of the outbreak of the new Crown pneumonia epidemic, China's food and beverage industry attracted an industrial winter, a large number of food and beverage offline stores were forced to close their doors, and China's food and beverage industry shrank for the first time, with the industry's revenue declining to 3.95 trillion yuan, a year-on-year decrease of 15.3%.

Compared to the overall food and beverage industry affected by the epidemic for the first time negative growth, the online takeaway industry does not decline but increase. From the beginning of the development of the takeaway industry, the online takeaway industry has shown rapid growth, and from 2011 to 2019, the market size of the online takeaway industry grew from 21.68 billion yuan to 577.93 billion yuan, with a compound growth rate of 50.74% over eight years, and the proportion of the overall food and beverage industry rose from 1.1% to 12.4%.

The 2020 epidemic led to the forced closure of offline catering stores, but the online takeaway industry instead further developed rapidly, with the market size growing to 664.62 billion yuan, a year-on-year growth of 15%, and accounting for the proportion of the overall food and beverage industry increased to 16.8%.

From the point of view of the number of outside users and the usage rate, the number of takeout users in China in 2016-2020 has continued to improve, growing from 209 million to 418 million, with a four-year compound growth rate of 18.99%. The takeout usage rate, on the other hand, grew from 28.5% in 2016 to 49% in 2018, and declined to 42.3% in 2020 due to an increase in the base of the overall takeout consumer base.

Middle-aged and old-aged groups are expected to be the growth point

With the continuous development of the online takeaway industry and the popularization of cell phones and other terminal Internet devices, the online takeaway industry is rapidly gaining popularity among young groups. According to the public data of 2020 Meituan Research Institute, China's major online takeout consumer group is concentrated in the age of 18-25, accounting for 36.1% of the total number of takeout users in China. And the youth group aged 18 to 35 accounted for more than three-quarters of the total takeaway users. This shows that young people are still the "main force" of takeaway consumption in China.

From the point of view of the number of takeout users of different ages, the younger the group, the more "lonely". 90 years later (within 30 years old), the vast majority of takeout users dine with one person, which is partly due to the fact that young people generally focus on individual work meals, and partly due to the fact that the proportion of single youths has been increasing in recent years. constantly rising has more to do with.

On the other hand, middle-aged and elderly users tend to dine with more than one person, with 64.4% and 77.8% of post-60s and post-70s takeout users dining with more than two people, respectively. This indicates that middle-aged and elderly takeaway consumers tend to have family meals for takeaway consumption. Therefore, in general, the single takeaway consumption amount of middle-aged and elderly consumers is much higher than that of young consumers, and middle-aged and elderly consumers have stronger economic level and pursue health and food safety more, therefore, compared with young consumers, middle-aged and elderly takeaway consumers have greater consumption potential, which is likely to become a new growth point of the takeaway industry in the future.

The above data refer to Analysis Report on China's Online Takeaway Business Models and Investment Strategy Planning by Prospect Industry Research Institute.