2021
0
China Hot Pot Dining Market Report 2021
2021-04-22T04:07:43+01:00
OX1047405
3695
136911
[{"name":"Foodservice","url":"https:\/\/store.mintel.com\/industries\/foodservice"}]
Report
en_GB
“Relentless innovation on hot pot menus seems no longer sufficient to secure long-term prosperity. Efforts to engage booming consumer groups such as pet owners and to incorporate Chinese elements amid…

China Hot Pot Dining Market Report 2021

£ 3,695 (Excl.Tax)

Description

“Relentless innovation on hot pot menus seems no longer sufficient to secure long-term prosperity. Efforts to engage booming consumer groups such as pet owners and to incorporate Chinese elements amid sizzling national pride will become new approaches to differentiate, along with the rise of regional hot pot and the premiumisation of the menu overall, not limited to hot pot offerings. COVID-19 shattered the offline catering sector but catalysed the retailisation trend, where hot pot operators need to be careful of what to sell to avoid the fierce competition from a slew of adjacent business formats, for example ready meal and snacking brands, that are developing relevant retail portfolios as well.”
– Wen Yu, Research Analyst

Key issues covered in this Report

  • When’s the market going to rebound to the pre-COVID level?
  • How are leading companies going to solidify their position in the post-COVID era?
  • What are consumers’ attitudes towards rising hot pot, including self-heating hot pot, hot pot delivery and home-cooked hot pot?
  • What does future innovation for hot pot soup base look like? How do regional dishes shed a light in this regard?
  • How do hot pot brands differentiate in the crowded and homogenous market?

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Report scope
  2. Executive Summary

    • The market
    • Disruption caused by COVID-19 is unlikely to outlive the promising growth
      • Figure 1: Forecast of market size of hot pot dining, China, 2015-25
    • Nearly 600,000 hot pot restaurants across China
      • Figure 2: Top ten cities by the number of hot pot restaurants, 2020
    • Companies and brands
    • Behemoths continued to ramp up coverage despite COVID-19
      • Figure 3: Restaurant numbers of top ten hot pot brands, 2019 & 2020
    • Brands commit to further developing online to offline integration
    • IP collaboration to build brand image and compete beyond products
    • Specialised hot pot invigorates the market’s long-term growth
    • The consumer
    • Crowded market with niche hot pots expecting momentum in certain cities
      • Figure 4: Adoption of different hot pots, December 2020
    • Consumers actively seek optimal channels with convenience and product variety
      • Figure 5: Purchase channel of retail hot pot products, December 2020
    • Customisation of food and dining environment spurs hot pot delivery orders
      • Figure 6: Reasons for ordering hot pot delivery, December 2020
    • Overall wide interest in soup bases, with a few regional preferences observed
      • Figure 7: Soup base innovation, December 2020
    • Dessert menu can be a point of differentiation in conveying premiumness, especially to young diners
      • Figure 8: Hot pot premiumisation, December 2020
    • Improve restaurant accessibility and hot pot quality to enlarge impact in lower tier cities
      • Figure 9: Attitudes towards hot pot, by city tier, December 2020
    • What we think
  3. Issues and Insights

    • Regional cuisines drive hot pot innovation
    • The facts
    • The implications
    • Pet-friendly hot pot to appeal to pet owners
    • The facts
    • The implications
    • Expand product portfolio to diversify revenue pathways, and more importantly to differentiate
    • The facts
    • The implications
  4. The Market – What You Need to Know

    • Shattered market will rebound to the pre-COVID level in a year
    • Hot pot restaurants approached 600,000 units in 2020
    • Rising at-home hot pot gives rise to opportunities and competition
  5. Market Size and Forecast

    • 2021 is likely to see a near recovery
      • Figure 10: Forecast of market size of hot pot dining, China, 2015-25
    • Number of hot pot restaurants approached 600,000 in 2020
      • Figure 11: Top ten cities by the number of hot pot restaurants, 2020
  6. Market Factors

    • New entrants join the retail hot pot market to stir up the game
      • Figure 12: Examples of self-heating hot pot and hot pot side dishes from Sanquan, Bai Cao Wei and Three Squirrels
    • Investment focus shifts to hot pot supply chain amid the outbreak
    • Premium hot pots lurk ahead to propel the growth
  7. Key Players – What You Need to Know

    • Big chains reinforce leading position after the outbreak
    • Brands scramble to enhance recognition to avoid homogenous competition
    • Regional dishes inspire hot pot innovation and bring vitality
  8. Market Share

    • COVID-19 intensified the consolidation of dominant brands
      • Figure 13: Restaurant numbers of top ten hot pot brands, 2019 & 2020
      • Figure 14: Key operational information of Haidilao, 2019 & 2020
    • Hema dives into hot pot business, offering dine-in and delivery services
      • Figure 15: Hema’s hot pot delivery and dine-in hot pot catering
  9. Competitive Strategies

    • Brands further devoted to online-to-offline integration
    • Haidilao further applies smart kitchen systems to streamline procedures and optimise services
    • Players hope to enhance brand acknowledgement to increase retention
      • Figure 16: Liuyishou’s five IP characters
      • Figure 17: Shudaxia’s flagship outlets with Chinese cultural elements
  10. Who’s Innovating?

    • Advent of specialised hot pots diversifies consumers’ recognition
      • Figure 18: Examples of innovative domestic hot pots
      • Figure 19: Examples of innovative foreign hot pots
    • Themed hot pot restaurants take innovation to the next level
      • Figure 20: Coucou and Xiaolongkan’s themed stores
      • Figure 21: Examples of themed hot pot restaurants
    • Bilibili replicates hot pot dining shown in the documentary in real life
      • Figure 22: Bilibili’s hot pot documentary Life is Boiling
      • Figure 23: Bilibili’s hot pot restaurant
  11. The Consumer – What You Need to Know

    • Crowded hot pot market with a few dominant types
    • Different expectations of home hot pot dining from restaurant dining
    • Brands need to take a holistic approach to premiumise
  12. Adoption of Different Hot Pots

    • Three regional hot pots have established their national popularity
      • Figure 24: Adoption of different hot pots, December 2020
      • Figure 25: Dropout rate of different types of hot pot, December 2020
    • Balance local adaptation and authenticity for popular hot pot to go nationwide
      • Figure 26: Respondents who have had and like the three most popular types of hot pot, by city, December 2020
    • Less-preferred hot pots can prioritise certain regions
      • Figure 27: Respondents who have had and like other types of hot pot, by city, December 2020
  13. Purchase Channel of Retail Hot Pot Products

    • O2O retailers pose threat to conventional purchase channels
      • Figure 28: Purchase channel of retail hot pot products, December 2020
    • Retailisation of hot pot restaurants needs to expand product range and channel
      • Figure 29: Purchase channel of retail hot pot products – repertoire analysis, December 2020
  14. Reasons for Ordering Hot Pot Delivery

    • Customisation, rather than hygiene, is a strong motivation
      • Figure 30: Reasons for ordering hot pot delivery, December 2020
    • Young consumers’ and pet owners’ lifestyles influence hot pot marketing
      • Figure 31: Reasons for ordering hot pot delivery – “able to have at-home leisure activities when eating hot pot” – by age & living situation, December 2020
  15. Soup Base Innovation

    • Wide interest in trying out new soup bases
      • Figure 32: Soup base innovation, December 2020
    • Lower tier consumers are a lot more enticed
      • Figure 33: Soup base innovation – repertoire analysis, December 2020
      • Figure 34: Soup base innovation – repertoire analysis, by city tier, December 2020
    • Polarised soup bases might as well target specific regions
      • Figure 35: Soup base innovation, by city, December 2020
  16. Hot Pot Premiumisation

    • Consumers expect high price to be justified by quality and taste
      • Figure 36: Hot pot premiumisation, December 2020
      • Figure 37: Soup base innovation, by hot pot premiumisation – “high nutritional hot pot soup base”, December 2020
    • Menu upgrades need to look beyond hot pot itself to stand out
      • Figure 38: Hot pot premiumisation – “offering premium desserts”, by age, December 2020
  17. Attitudes towards Hot Pot

    • Dine-in hot pot appeals to tier one consumers while lower tier consumers trust retail solutions
      • Figure 39: Attitudes towards hot pot, by city tier, December 2020
    • Hot pot dining serves as a social event for most
      • Figure 40: Factors of ordering hot pot delivery, by attitudes towards hot pot, December 2020
  18. Appendix – Market Size and Forecast

      • Figure 41: Forecast of market size of hot pot dining, China, 2015-25
  19. Appendix – Methodology and Abbreviations

    • Methodology
    • Abbreviations

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

Below is a sample report, understand what you are buying.

Click to show report
2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

Trusted by companies. Big and small.

Want to speak to us directly?

Contact us with your enquiry and our expert global team can help.

Get in touch