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Chinese Holiday's Influence on China‘s Food & Beverage Consumption!

2023.12.29

The United Nations recently designated the Lunar New Year (Spring Festival) as an official holiday, highlighting its significance. This festival, rooted in Chinese tradition, symbolizes family unity, cultural values like peace and harmony, and resonates with a fifth of the world's population.

 

 

The Spring Festival isn't just about tradition; it's a major driver of China's holiday economy, signifying the nation's economic strength.

 

As it approaches Chinese New Year's Eve 2024, the buzz around dinner reservations is palpable. Restaurants across Shanghai, Guangdong, Hunan, Shaanxi, and more are witnessing an early surge, even facing overbookings. The food industry is evolving too, embracing home deliveries, chef substitutes, and pre-made dishes for this festive occasion.

 

China's catering industry, one of the fastest recovering sectors, reflects the nation's remarkable economic rebound. October statistics reveal a 17.1% surge in catering revenue, indicating robust growth.

 

The numbers speak volumes: from 2014 to 2019, China's catering market soared from 2.9 trillion yuan to 4.7 trillion yuan. Despite a brief decline in 2020, it bounced back, hitting 4.8 trillion yuan in 2022. Projections suggest a monumental milestone, with the industry set to surpass 5 trillion yuan in 2023, marking a decade-high record.

 

This festive season isn't just about tradition; it's an unparalleled opportunity for import food businesses to tap into China's thriving market. Embrace the significance of this holiday and explore the vast potential it holds for international food imports!  #ChineseNewYear #GlobalFoodMarket #CulturalEconomy"

 

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