Catering industry booms as COVID-19's grip eases

The scale of China's chain catering industry has recovered quickly from the impact of the COVID-19 pandemic, with the market value expected to reach 4.7 trillion yuan ($737.4 billion) this year, boosted by the rapid growth of takeout orders and the adoption of digital technologies to reach more younger consumers.

According to the 2021 China Chain Catering Industry Report, the market value of the country's catering sector is on track to reach 6.6 trillion yuan in 2024 from 4 trillion yuan last year.

The report, jointly conducted by finance institution China Renaissance and China Chain Store &Franchise Association, looked at data from 21 listed catering enterprises and the other 60-odd chain catering companies and pointed out that China's catering market has grown in a healthy manner.