The gross income of the catering industry in China exceeded RMB4 trillion in 2018 and the hotpot service sector had become the biggest share in the catering industry.
As part of the Chengdu Panda Asian Food Festival (CPAFF), the Hotpot Industry Summit was convened on May 17 here in Chengdu. Representatives from all sectors of the industry exchanged views on the trend of the industrial development.
At the forum, the Report on Consumer Study in Hotpot Industry, China Hotpot Industry Development White Paper and the 2018 China Hotpot Industry Development Report were released.
According to the data in the 2018 China Hotpot Industry Development Report, the gross income of the catering industry in China exceeded RMB4 trillion in 2018. And the hotpot service sector had become the biggest share in the catering industry, thanks to its expanding market and unique business models featuring quick expansion and a high degree of standardization.
The Report on Consumer Study in Hotpot Industry indicates that the majority of the consumers are young people. Tongue-numbing spicy and soybean sauce spicy flavors are preferred in most cases, and friends' get-together, daily dining, family gathering and couple-dating are the top four consumer scenarios.
"Based on the data, the businesses in the hotpot industry should focus on the food quality and diversity, and service quality which are the top concerns of consumers," said an industry insider at the forum.
At the awarding ceremony of the Jinhuo Award, part of the Asian Hotpot Festival, the first Asian-Pacific Hotpot Festival was launched, and outstanding businesses and professionals were awarded for their contribution to the hotpot industry in the past 10 years. Thirty percent of the award-winning hotpot restaurants and supply chain business are from Sichuan.