Industry Analysis & Industry Trends
In recent years, lifestyle changes and reduced leisure time have contributed to a consumer shift from traditional full-service restaurants toward fast-food establishments. In addition, increased Western influences in China and higher incomes have seen increased demand for fast-food. With the rapid development of fast-food service providers, improvements in chain store and franchising management, and new brands and food styles, industry growth has been very strong in the past decade.
ACMR-IBISWorld estimates that the Fast-Food Restaurant industry in China will generate revenue of $107.8 billion in 2014, up 9.7% from 2013. Over the five years through 2014, industry revenue has been growing at an annualized rate of 12.4%.
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Industry Report - Industry Analysis Chapter
The Fast-Food Restaurant industry in China is very large, generating estimated revenue of $107.8 billion in 2014. This industry has performed well over the past five years, with annualized revenue growth of 12.4%. The industry now makes up about 20.0% of China's total catering sub-sector revenue.
In the past five years, lifestyle changes and reduced leisure time have created greater demand for fast food. Other factors increasing demand include the rapid development of fast-food service providers, improving franchising management and new brands and food styles. The industry has recorded rapid growth in industry revenue, value added, employment, wages and enterprise and establishment numbers.
Industry revenue growth began to slow in 2009, increasing by 14.0% to $60.2 billion... purchase to read more