Fast-Food Restaurants in China - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 03:52:02
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 $94.2 billion in 2013, up 8.0% from 2012. Over the past five years, industry revenue has been growing at an annualized rate of 13.0%.
There are over two million fast food restaurant locations (i.e. establishments) operating in the industry in 2013, including franchise and chain operators of all sizes and independent Chinese-style fast-food facilities throughout the country. The majority of the enterprises in this industry are small, independent facilities engaged in traditional Chinese-style fast food. Fast-food restaurants employ about 7.7 million people who receive an estimated $14.8 billion in wages.
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