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In recent years, reduced leisure time in China has led to a consumer shift away from traditional full-service restaurants toward fast-food establishments. Over the five years to 2012, revenue for the Fast-Food Restaurant industry in China grew at an annualized rate of 16.9% to $89.6 billion, says IBISWorld.
San Francisco, CA (PRWEB) February 10, 2013
In recent years, reduced leisure time in China has led to a consumer shift away from traditional full-service restaurants toward fast-food establishments. In addition, increased Western influences and higher incomes have boosted demand for fast food. Over the five years to 2012, revenue for the Fast-Food Restaurant industry in China grew at an annualized rate of 16.9% to $89.6 billion, says IBISWorld.
With improvements in chain store and franchising management, and new brands and food styles, the industry has been developing rapidly. There are almost two million enterprises in this industry, says IBISWorld. However, only an estimated 7,000 are the establishments of 130 large franchising or chain operators with revenue of over two million RMB. The majority of enterprises are small, independent facilities engaged in traditional Chinese-style fast food.
The combined revenue of the industry's four largest companies – Yum! Restaurants, McDonald’s, Dico’s Food Development, and Ajisen (China) Holdings – is low at about 10.4% of total industry revenue. As the trend of chain operation management pick up, with an increasing number of domestic companies following the example of their foreign competitors, IBISWorld expects the industry’s market share concentration to increase.
Over the next five years, competition within the Fast-Food Restaurant industry in China is expected to intensify, especially in regions with well-developed fast-food markets. Increased competition will push players to look for new opportunities into less-developed regions. In addition, chain operations will continue spreading from east to west, and from tier-one and -two to tier-three and -four cities, says IBISWorld.
For more information, visit IBISWorld’s Fast-Food Restaurants in China industry report page.
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IBISWorld industry Report Key Topics
The Fast-Food Restaurant industry in China operates fast-food restaurants in which customers order items and, in most cases, pay before eating. Food and drinks may be consumed on premises, taken out or delivered to the customer. Food provided by this industry includes both Chinese and Western fast food.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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