Eat Out Trends in China

In China the averages eat out spending in 2005 was about 140 times more than what it was 30 years ago. In addition Shanghai has left behind Guangzhou in the total spending on food in restaurants and hotels. The country is witness to a double-digit growth in the catering market over the past 15 years as the sector's retail sales volume climbed by 18 percent over 2004 at an amount of 888.6 billion Yuan (US $110 billion). Owing to rapid rise in GDP during 2005, people's wallets fattened and their confidence boosted to continuously increase the average consumption in restaurants by 33 percent. Thus the catering sector in China began to boom. According to a survey conducted in all provinces of China for the year 2005 to analyze people's spending patterns, it was found that in Guangzhou, capital of South China Guangdong Province, the spending by a single person in restaurants on average was around 4,000 Yuan (US $500), which is the maximum in the whole of China. However, in terms of total consumption, Guangzhou was second after Shanghai. There the retail sales in the restaurants touched 32 billion Yuan (US $4 billion). In a recent market research report named, "Food Processing Industry in China" by RNCOS the consumption of processed foods by Chinese people declare that the average spending on eat out in 2005 was around 720 Yuan and this was 140 times more in comparison to 1976. The report explains how the industry's growth in the country has taken place with the availability or raw materials, changing lifestyles and flexible trade patterns. It also analyzes the appreciation in demand and supply in the region with respect to unit sales while discussing the hindrances to growth opportunities for traders. The market research report includes in its different chapters coverage of the different business divisions within the industry accompanied by statistics, trends, and legal issues and regulations that govern it. It covers the profile of key companies in the food processing sector that include brief profile, recent financial figures, key management profiles, and companies' strategic moves/ press coverage for the overall market estimation and its trends. To purchase your copy: http://www.rncos.com/Report/FB14.htm For more information please visit www.rncos.com

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