In Chinese seafood market and trade, News Bites, Top 3, Uncategorized

China Hospitality Association: Seafood catering industry growing at between 10%-30% 

 

15 October 2021

 

The China Hospitality Association has released its “Seafood Catering Industry Market Research Report”.

According to the report, China’s per capita seafood consumption was trending upward prior to the pandemic, reaching 32kg/year in 2019. The Association estimates 2020 per capita consumption at about 26kg/year. Despite the setback, the research claims “the current growth rate of China’s seafood catering industry is between 10%-30%, and the seafood catering industry is in the growth stage.”

 

The survey notes a change in consumption structure towards a higher proportion of seafood vs red meat in average diets, and the enduring popularity of seafood stalls. It also contains a ‘power ranking’ of dominant Chinese seafood brands.

 

 

As reported on the China Hospitality Association Website:

 

Recently, supported by data from the leading industry research institution Zhongyan Puhua, the China Hotel Association released the “Seafood Catering Industry Market Research Report.” The report focuses on the large-scale domestic seafood restaurant chain brands, and explains in detail the development and operation, industrial chain, supply chain and market competition environment of China’s seafood catering industry. The current status and prospects of brand influence and the development of the seafood market are deeply analyzed.

The release of this report analyzes the development of China’s seafood catering industry on the one hand, reflects the development and trend of China’s seafood catering industry through scientific statistical indicators and detailed data, and provides a detailed interpretation of the development trend of the catering industry and the new national policy. Relevant development suggestions; on the other hand, the “Report” selects national policies and legal documents that are of great guiding significance to the seafood catering industry for the industry’s reference, hoping to give clear guidance on the future development of China’s seafood catering industry.

 

The report shows that China is one of the world’s largest producers, consumers, and importers and exporters of aquatic products.

 

According to the calculation of China ‘s 1.4 billion population, China’s per capita seafood consumption has shown an upward trend, even exceeding 30KG/year in 2019. Affected by the epidemic, it will be about 26.42KG/year in 2020.

 

People’s consumption structure has changed and consumption levels have improved, which has accelerated the growth of major seafood brands. Statistics show that the proportion of urban residents’ consumption of pork, beef, mutton and other livestock meat has dropped from over 60% in the past to below 50%, while the proportion of aquatic products consumption has increased from 23% in the past to about 30% at present.

 

Research report data shows that the current market concentration of seafood catering industry is relatively low, and most of them are self-employed. In 2020, the combined market share of the top ten brands in the seafood catering industry is less than 3%. This is a challenge as well as an opportunity for the entering companies. The report is aimed at large domestic seafood catering chain brands, and is released through detailed calculation and comprehensive analysis of brand sales, number of directly-operated stores, honors, average star rating of public comments, number of public comments, market awareness and other indicators. On the ranking list of “Comprehensive Influence of China’s Seafood Catering Industry”, Xu Ji Seafood, Tanggong Seafood Boat, and Zhenbao Seafood ranked the top three respectively. See China Hospitality Association article for the Full List:

 

Research report data shows that the current growth rate of China’s seafood catering industry is between 10%-30%, and the seafood catering industry is in the growth stage. With the current situation that only 42% of Chinese people often consume seafood, with the acceleration of urbanization, the improvement of people’s standards, and the change of consumption concepts, the consumption of seafood and catering is still rising rapidly. With the continuous upgrading of consumption, catering intelligence, digitalization, innovation and intelligence that reduce costs and increase efficiency will become the focus of the future development of the seafood catering industry.

 

See China Hospitality Association Article >

 

Image: Pexels

 

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