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What is the market prospect of the catering industry?
At present, China's catering industry has entered a mature stage, the growth momentum is unabated, the overall level is improving year by year, the comprehensive level and development quality are constantly improving, and the pace of development is accelerating. At the same time, after years of development and market competition, the development of China's catering industry has entered a new stage of diversification of investment subjects, diversification of business formats, chain of business models and industrialization of industry development. The development momentum of catering industry in China continues to be strong, and the development prospect is more promising.

Since the reform and opening-up, with the rapid development of China's economy and the continuous improvement of its production capacity and people's income level, China has been pursuing the characteristics, health, nutrition, convenience, culture and leisure of its diet since 1970s and 1980s. With the development of economy, China's catering industry not only witnessed the improvement of people's living standards and consumption capacity, but also gradually became a pillar industry to expand domestic demand, promote sales, stabilize growth and benefit people's livelihood.

At the same time, with the rapid development and popularization of the Internet, "internet plus" has become the general trend, and the catering industry has become the biggest entrance under the online Internet connection. The whole catering industry includes the supply of catering ingredients. The entry of one-stop trading platform in internet catering industry has changed the development of traditional catering industry, moved traditional offline transactions to online, and accelerated the circulation of the industry and the popularization of services.

The catering industry has developed rapidly and the scale of the industry has been expanding.

According to the data of the National Bureau of Statistics, in recent years, the market scale of China's catering industry has continued to grow, reaching 2 trillion in 20 1 1 year, 3 trillion in 20 15 year and 4.27 trillion in 20 18 year, accounting for 4.7% of the national economic output value. In 20 19, the revenue of catering industry was 4.7 trillion yuan, up 9.4% year-on-year. Although the growth rate has decreased in recent years, it was 9.4% in 20 19, but it is still much higher than the GDP growth rate. Affected by the epidemic, the income of catering industry in China fell to 3.95 trillion yuan in 2020, down 16.6% year-on-year.

The diversified catering industry still occupies the main force.

With the continuous development of catering industry in China, the format of catering industry in China has gradually changed from single to diversified. At the same time, in order to better meet the consumption needs of consumers, the format segmentation of the catering industry is also more accurate. There are not only dinners, group meals, fast food, take-away, snacks, but also western food, Japanese food, restaurants in Southeast Asia and other countries, as well as grilled fish, crayfish, tea, local snacks, non-legacy food, time-honored brands and other food products from all over the world, providing the broad masses with rich and diverse market choices.

Even so, the catering industry in China is still dominated by catering. In 20 19, the catering industry in China was dominated by catering, accounting for 42.39%, western-style leisure catering accounting for 19.86%, hot pot accounting for 12.06%, group meals accounting for1.35%, and fast food accounting for 7.999.

The concentration of catering industry is lower than that of decentralized industry.

In terms of competition pattern, the domestic catering market in China is relatively scattered at present, and the industry concentration is low. According to the data of "Analysis Report of Top 100 Catering Enterprises and Top 500 Catering Enterprises in China in 20 19" released by China Cuisine Association in June 2020, the total operating income of top 100 catering enterprises in China in 20 19 was 327.38 billion yuan, with a year-on-year growth rate of 9.6%.

The operating income of the top 100 catering enterprises accounts for 7% of the national catering income. Although the concentration of the top 100 enterprises has improved, it is still low. With the integration of catering market resources and the continuous expansion of catering enterprises, the polarization within the top 100 catering enterprises is still obvious.

The scale of consumption upgrading in the catering industry continued to expand.

In the future, on the basis of people-oriented and serving people's livelihood, China catering industry will promote development and transformation from independent innovation, information management, energy saving and low carbon, green development and brand strategy, optimize development structure, innovate development mode, improve service quality and release new development momentum. Looking ahead, it is estimated that the growth rate of catering revenue in China will remain at 8.0%-9.0% from 2020 to 2026, and it is estimated that the catering revenue will reach about 8165 billion yuan by 2026.

The development and transformation of the catering industry In the future, the catering industry will gradually develop in many directions.

At present, China is in the era of data and network, and the catering industry should also consider the development of enterprises with the thinking mode of interconnection and sharing. Therefore, it is particularly important to collect, organize and share data. In the future, it will be the main development direction of the catering industry to establish a mutually beneficial online and offline one-stop service and promote the integration of online and offline development.

At the same time, the application of new technology and Internet will also become an effective way to drain new consumption and develop new retail. In the future, the catering industry will develop in the direction of networking, retailing and digitalization.

In addition, the development of catering related industries will also bring more convenience to the catering industry. In the future, restaurants will outsource more non-core functions to make themselves smaller, more professional, lighter and faster.

—— The above data comes from the Analysis Report on the Development Prospect and Investment Forecast of Catering Industry in China by Forward-looking Industry Research Institute.