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