China Take-out Meal Box Industry Continues to Gain Traction to 2022, States CRI in Its Report Published at MarketPublishers.com
15 Jan 2018 • by Natalie Aster
LONDON – China's fast food sector have reached more than USD 123.8 billion in revenue in 2017, capturing over 20% of the overall revenue of the country’s catering industry. Additionally, the fast food industry has exhibited a faster growth rate as against the catering industry in the recent past. The rapidly expanding number of netizens, specifically the number of mobile subscribers (surpassing 700 million people by end-2017), has resulted in the number of people who order take-out food via mobile apps increase on a constant basis, which raises the demand for take-out meal boxes.
In the recent past, there has been rapid expansion of consumers of take-out food, growing from 80 million as of 2012 to close to 300 million in 2017. The rate of take-out consumers is poised to rise again with take-out food platforms rapid development in the country’s third-tier and fourth-tier cities and also in rural districts.
The consumption of take-out meal boxes in volume terms has surpassed the 10 billion units mark in China in 2017.
Poly propylene (PP) boxes are most broadly used in the present-day Chinese market, with paper boxes and degradable boxes following after. Disposable boxes are generally priced at USA 0.05 - 0.23 per unit in China, among which degradable boxes are the most expensive, grabbing a comparatively low market share.
China's take-out food sector is expected to keep on gathering steam through to 2022, with the consumption volume of take-out meal boxes posting a CAGR of at least 15%. For disposable meal box producers, specifically for degradable meal box makers, there are a host of opportunities in the Chinese market in the projected period.
Topical research report “Research Report on Take-out Meal Box Industry in China, 2018-2022” elaborated by CRI provides an insightful, true analysis of the industry on a national level.
The study takes a look at the development status of the country’s catering industry; focuses on the economic and social environment of the Chinese take-out meal box industry. It gives an analysis of the domestic supply and demand of take-out meal boxes, keeps track of price trends of take-out meal boxes. The report offers an insightful discussion of the leading take-out meal box producers in China, sheds light on the competitive intensity in the industry. The research report offers an analysis of the driving factors and market opportunities in the domestic industry, risks and challenges faced by market players. It also includes a granular forecast of the development trajectory of the marketplace.
More topical research reports elaborated by CRI can be found in this catalogue.