China's food and beverage consumption to grow 20.45% in 2023 compared to the same period last year: Chinese report

On the 23rd, the China Logistics and Purchasing Federation released the "China Food Supply Chain Development Report (2024)". According to the report, the growth rate of China's food consumption in 2023 is
The scale of food and beverage consumption reached 2.12 trillion former (approximately 45.98 trillion yen), an increase of 20.45% from the same period last year. The scale of retail food consumption was 7.66% up from the same period last year to 7.25 trillion former.
With the recovery and development of the food and beverage market, the rate of chain restaurants continues to rise. China's food consumption is gradually shifting from "quantity" to "quality."
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