Consumer Foodservice in Asia Pacific

May 2024

Consumer foodservice sales returned to positive growth in Asia Pacific in 2023, following the decline caused by the resurgence of COVID-19 in China in 2022. While Starbucks continues to grow in China, it is facing competition from local coffee shop chain Luckin, with MXBC also continuing to expand its bubble tea stall network in this country. Eat-in still dominates sales in the region, but delivery received strong impetus during the pandemic, and will continue gaining share in the coming years.

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Delivery

This report comes in PPT.

Key findings

All countries seeing rising value sales in 2023

The 2022 regional performance was negatively impacted by the resurgence of COVID-19 in China. However, with the authorities scrapping their strict zero-COVID policy in late 2022, China was back recording positive growth in 2023. All other countries in the region were also seeing increasing value sales in 2023, resulting in a strong performance in Asia Pacific as a whole.

Home delivery expected to continue growing in India

Home delivery continues to grow in India, driven largely by third-party delivery providers, with further growth expected in the coming years. The government-backed Open Network for Digital Commerce platform should intensify the competition within delivery, thanks to its cap on commission rates, resulting in lower prices than those of major third-party delivery players.

Convenience stores limited-service restaurants a strong presence in Japan

Only Asian full-service restaurants and cafés/bars have a bigger share of foodservice sales in Japan than convenience stores limited-service restaurants. Chains like 7-Eleven or Lawson boast a nationwide presence with their large number of outlets, while the 24-hour opening policy in many outlets makes them accessible at any time and anywhere for most consumers.

MXBC planning IPO to finance continued expansion

Chinese tea stall chain MXBC now has the second highest number of outlets of any player in Asia Pacific. As it looks to continue its expansion, it was planning to raise funds from a listing on the Hong Kong Stock Exchange, for which it submitted an application in early 2024.

Scope
Key findings
Asian full-service restaurants account for more than half of regional foodservice sales
Asia Pacific has the highest regional consumer foodservice sales
Strong growth in 2023 after a second year of COVID-19-hit sales in 2022
All countries recording positive growth in 2023
Big chains looking to push into tier-2 cities in India
Eat-in hit by COVID-19 restrictions but still dominates overall foodservice sales
Street stalls/kiosks and limited-service restaurants perform best over 2018-2023
Chinese market in recovery mode in 2023 after year-earlier decline
Inflationary pressure resulting in changes in the consumer foodservice industry
Highly fragmented competitive landscape for Asia Pacific consumer foodservice
Most of the leading players were expanding their networks over 2018-2023
China or Japan is the biggest market for all but one of the top 10 players
Luckin Coffee moves into the top 10 brands
Positive growth expected throughout the forecast period
Chained players expected to accelerate their expansion in low-tier cities in China
Increasing popularity of delivery in Indian consumer foodservice
China: Market Context
China: Competitive and Retail Landscape
Hong Kong, China: Market Context
Hong Kong, China: Competitive and Retail Landscape
India: Market Context
India: Competitive and Retail Landscape
Indonesia: Market Context
Indonesia: Competitive and Retail Landscape
Japan: Market Context
Japan: Competitive and Retail Landscape
Malaysia: Market Context
Malaysia: Competitive and Retail Landscape
Philippines: Market Context
Philippines: Competitive and Retail Landscape
Singapore: Market Context
Singapore: Competitive and Retail Landscape
South Korea: Market Context
South Korea: Competitive and Retail Landscape
Taiwan: Market Context
Taiwan: Competitive and Retail Landscape
Thailand: Market Context
Thailand: Competitive and Retail Landscape
Vietnam : Market Context
Vietnam : Competitive and Retail Landscape

Consumer Foodservice

Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.

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