China's cuisines tickle global taste buds
Diners seen at an outlet of hotpot chain Xiapuxiapu in Beijing. According to international consulting firm Frost & Sullivan, by 2026, the size of the overseas Chinese catering market is expected to reach $409.8 billion, with a compound annual growth rate of 9.4 percent. On-premise beverage and ice-cream giant Mixue Bingcheng, the world's fifth-largest fast food restaurant chain, has over 36,000 stores worldwide, including more than 6,000 stores outside China. The Chinese catering industry saw a recovery last year, according to the China Chain Catering Enterprises' Road to Capital Report 2024, released jointly by the China Chain Store & Franchise Association and PwC. The report said thanks to considerations like supply chains, Southeast Asian countries that are geographically more convenient, Japan and South Korea are top priorities for catering chains seeking to expand abroad.
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