China: Food Service-Hotel Restaurant Institutional
Link to report:
China’s Hotel, Restaurant, and Institutional (HRI) sector recorded $ 573 billion in sales revenue in 2020, a 15.4 percent decline from 2019. COVID-19 led to many restaurant closures during the first half of 2020, but the industry rebounded in the second half and even exceeded the pre-pandemic scale by the end of 2020. Catering businesses numbered 9.3 million by the second quarter of, 2021. Demand and supply patterns for the HRI sector underwent significant changes with the lingering pandemic and China’s stringent COVID-19 preventive measures.
