Original title: Analysis of the current situation and pattern of Chinese pizza restaurants in 2022, Pizza Hut market share exceeds 37%, and the proportion of takeaway continues to increase "Picture"
1. Overview of pizza industry
1. Industrial status
Pizza is the main type of Western fast food. The entry of Pizza Hut into the Chinese market marks the beginning of the chain of pizza restaurants. Since 2000, the number of companies entering the pizza track has increased significantly. The situation where Pizza Hut is the dominant one is broken with foreign brands entering one after another and local brands continue to explode. The pizza market has entered the era of heroes, and the share of leading brands has declined, and the overall growth of the pizza market has become increasingly weak. The changes in the current consumption environment have gradually made the overall pizza industry leave the "high-end". Under the background of the popularization trend, second-tier cities and below have broad space for development, and the overall pizza industry has attracted rapid development opportunities.
Pizza industry is in the catering industry, and its status is
Source: Huajing Industry Research Institute compiled
2, site selection considerations
With the continuous development of the pizza restaurant industry, the overall site selection requirements continue to increase. The continuous development of the big data industry will help analyze the relevant data of the location. It is necessary to monitor the traffic, traffic, parking and other information in the area, and draw the store in detail into a detailed diagram, and go to the location of each intersection and traffic lights in order to find the best takeaway delivery route, while reducing costs at the maximum possible level. Overall, digitalization provides key support for the development of pizza restaurants.
Some elements that need to be considered for site selection of pizza restaurants
Source: Domino's annual report, compiled by Huajing Industry Research Institute
2. Pizza industry development background
Pizza overall production is relatively simple, mainly made of flour to dough with cheese, meat and vegetables, etc. Because the overall replicability is strong, the industrial value is mainly concentrated in service, quality, brand, etc. Whether it is Domino's , which seized market share with delivery in the early stage, or Pizza Hut, which is now gradually increasing its online share, they mainly rely on scale effects to reduce costs, seize the market highland through high-quality services, and fast delivery time.
Pizza production process
Source: Huajing Industry Research Institute compiled
3, Current status of pizza industry
1, market size
1, market size
With the increase in disposable income of Chinese consumers, the continuous improvement of consumer acceptance of Western food, and the development of delivery models, according to data, the market size of China's pizza restaurants has increased from 22.8 billion yuan in 2016 to 33.5 billion yuan in 2019, with a CAGR of 13.7%. In 2020, due to the impact of the epidemic, the market size rebounded to 30.5 billion yuan, and in 2021, the market size rebounded to 36.4 billion yuan. It is expected that with the increase in the penetration rate of in low-tier cities, the industrial scale will maintain rapid growth.
2016-2021 Chinese pizza restaurant market size and growth rate
Source: Frost Sullivan, compiled by Huajing Industry Research Institute
2, subdivided city pizza restaurant
on domestic pizza restaurant segmentation line In terms of offline market structure, as the domestic e-commerce and takeaway industries continue to develop, the online trend of the pizza industry continues to accelerate. Data shows that in 2016, the proportion of domestic pizza restaurants online (delivery) was only about 33.3%, and by 2019 it reached 42.1%. In 2020, due to the impact of the epidemic, the online scale has increased significantly, and the proportion once exceeded the offline level. In 2021, the proportion of the epidemic basically ended, but it still accounted for 49.2%. The trend speculation is that it is expected that the proportion of online consumption will exceed dine-in in the future.
2016-2021 Chinese pizza restaurant segmentation method market structure accounts for
Source: Frost & Sullivan, compiled by Huajing Industry Research Institute
Pizza restaurant segmentation cities, our pizza restaurants are mainly concentrated in first-tier and new first-tier cities, and the sinking market is to expand broadly. Data shows that the current comprehensive market size of domestic pizza restaurants and new first-tier cities has reached 64%. In recent years, the new first-tier and below are the main sources of growth in the domestic pizza market size. The main reason is that the overall price of pizza is not as affordable as fast food. In addition, the density of domestic pizza stores in first-tier cities can basically meet domestic demand. In the future, the second- and third-tier cities and below are the main development positions.
2016-2021 China's pizza restaurant subdivision city scale
Source: Frost & Sullivan, compiled by Huajing Industry Research Institute
3, penetration rate
In terms of penetration rate development space, the overall per capita store number of the United States, Australia and the United Kingdom is relatively high, and the domestic gap is obvious. At the same time, compared with other East Asian countries around the world, the market penetration rate of China's pizza is still relatively low. Data shows that in 2021, there are only 9.8 pizza stores per 100 people in China, while Japan and South Korea are 28.1 and 28.3 respectively. The tastes of China, Japan and South Korea are similar, and it is expected that the Chinese pizza market will still have a lot of room for growth in the future.
2021 pizza store penetration rate in major countries and regions around the world
Source: Frost Sullivan, compiled by Huajing Industry Research Institute
4, pizza restaurant competition pattern
1, Market concentration
pair Compared with major domestic pizza restaurants, the overall market concentration is higher, with CR3 accounting for about 47.8%, CR5 accounting for 51.6%, and Pizza Hut, a subsidiary of Yum China , occupies a leading position with a market share of 37.4%. Zunbao and Dominola (73.2% of the revenue comes from delivery orders) ranked second and third in China with revenue of 2.2 billion yuan and 1.6 billion yuan respectively, accounting for 6% and 4.4% of the market share respectively. In terms of the takeaway field, the changes in the top five have not changed, and Pizza Hut accounts for only 26.8% of the domestic share, with higher overall competition and more diversified market, with CR5 accounting for 47.5%.
2021 China's major pizza restaurant market share
Source: Frost Sullivan, compiled by Huajing Industry Research Institute
2, Pizza Hut revenue and store quantity trend
In terms of the overall operating status of Pizza Hut, Pizza Hut entered China earlier (1990s) ), occupying the first-mover advantage, is the most well-known pizza company in China. According to relevant public data from Yum China, compared with its brother brand KFC , Pizza Hut's overall operation is relatively stable, with a small revenue growth rate. It once declined significantly due to the impact of the epidemic in 2020, and rebounded beyond the pre-epidemic level to US$2.109 billion. It is worth noting that in fact, the number of Pizza Hut stores has maintained a continuous growth state since 2017, and the revenue increase is not as high as the number of stores, indicating that its single-store revenue has maintained a continuous downward trend.
2017-2021 Pizza Hut revenue trend chart
Source: Yum China Bulletin, compiled by Huajing Industry Research Institute
5. Brief analysis of the impact of the pizza industry chain
l51, cost and raw material end
From the raw material end, pizza has a variety of raw materials, including flour, various meats, vegetables and dairy products, among which the noodles are the main raw materials. Judging from the overall price changes in raw material in recent years, except for the rapid growth of pork due to African swine fever and beef due to supply and demand, the overall raw material changes are relatively small, but the overall cost is manifested as a continuous growth trend.
2016-2020 China Pizza Raw Materials Consumer Price Index Changes
Note: Based on 2015
Source: National Bureau of Statistics, compiled by Huajing Industry Research Institute
Human Resources Cost, with the domestic per capita income The overall level has improved, the average annual salary of employees in the catering industry has continued to increase, and the labor cost of has continued to increase. Data shows that the average annual salary of employees in the catering industry in my country has increased from 34,700 yuan to 42,400 yuan in 2019. The epidemic in 2020 has significantly decreased demand, and the layoffs and salary cuts of enterprises have lowered the average annual salary. Overall, the domestic pizza cost will continue to increase in the future. How pizza restaurants can increase user stickiness in gradually increasing costs and thus increase revenue in increasing product prices or driving high-value-added products is the key to future development.
2016-2020 changes in the average annual salary of Chinese catering industry employees
Source: National Bureau of Statistics, compiled by Huajing Industry Research Institute
2, downstream
Pizza is one of the main types of Western fast food. Although the overall consumer recognition is not as high as that of hamburgers and fried chicken, the main reasons include high prices and taste impact issues. Overall, domestic consumers currently accept Western fast food with a high acceptance of Western fast food, and the proportion of regular consumption users reaches 58%. In the future, as the demand and proportion of pizza delivery continues to increase, for example, brands such as Pizza Hut have increased and increased the proportion of products that are targeted at a smaller number of individuals or people, the overall penetration and stickiness of pizza users are expected to continue to increase.
2022 Chinese consumers' Western fast food consumption
Source: Public information sorting
6. Pizza restaurant development trend
1. Low-tier cities are to be penetrated
1. Low-tier cities are to be penetrated
Refer to developed countries such as the United States, pizza is very suitable as a delivery product, but in the past, due to the high overall average price and fewer products for individual users, the overall industry is concentrated in front-tier and new first-tier users. As the pizza products of domestic leading enterprises gradually become popular and personal products are gradually launched, pizza restaurants are expected to gradually penetrate into low-tier cities, with broad development space.
2, chain trend will increase
Data shows that domestic chain restaurants currently account for 88.2% of the entire Chinese pizza market. The main reason is that although the overall homogeneity rate of pizza is high, the leading companies focus on brands and services, and enhance market competitiveness through differentiation and digital management . As raw material costs continue to increase, the chain rate is expected to continue to increase in the future under the advantage of scale.
Original title: Analysis of the current status and pattern of Chinese pizza restaurants in 2022, Pizza Hut's market share exceeds 37%, and the proportion of takeaway continues to increase. "Picture"
Huajing Industry Research Institute conducted an in-depth analysis of the current development status of China's pizza restaurant industry, upstream and downstream industrial chains, competitive landscape and key enterprises, to minimize corporate investment risks and operating costs and improve corporate competitiveness; and use a variety of data analysis technologies to predict the industry development trends so that enterprises can seize the market opportunities in a timely manner; for more detailed content, please pay attention to the "2023-2028 China Pizza Restaurant Market Panoramic Evaluation and Investment Planning Recommendation Report" published by Huajing Industry Research Institute.
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