Understanding Chinese Consumer Insights Convenience and Fast Food Industry
Chinese consumers select fast food products based on specific needs and scenarios
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The forthcoming Hangzhou Asian Games presents a significant developmental opportunity for China’s E-Sports sector. Since 2022, numerous regions have ramped up support for the industry, aiming to establish advanced E-Sports cities. For example, Hangzhou, capitalizing on the Asian Games, is set to become an international animation hub and a renowned E-Sports city by 2025.
In December 2018, the State Council issued guidelines to achieve a 2 trillion yuan sports competition and performance industry by 2025. With the global sports industry revival, numerous professional leagues and international events have resumed, creating new prospects. The inclusion of E-Sports in professional sports competitions and performances further contributes to the industry’s high-quality development.
With over 1.06 billion mobile internet users, mobile gaming is increasingly popular. In 2022, market influences led to a significant decline in investment and financing in the gaming and E-Sports industries. However, with the restoration of industry policies and the full resumption of E-Sports events in 2023, a rebound in related investment and financing markets is anticipated. The metaverse industry, despite a subdued domestic venture capital market, saw increased attention and potential for the E-Sports industry’s innovation.
The 2022 Chinese E-Sports market valued at approximately 157.9 billion yuan experienced a 5.6% year-on-year decline due to macroeconomic impacts and conservative event planning amid the pandemic. However, the orderly recovery of social activities and events, alongside comprehensive sports events like the Hangzhou Asian Games, will drive market rebound and growth.
E-sports gaming accounted for 75.6% of the market in 2022, with the ecosystem projected to grow. By 2025, the E-Sports ecosystem is estimated to hold 29.4% of the market share.
In 2022, China had about 504 million E-Sports users, with a 0.4% year-on-year decline primarily attributed to gaming user loss. Anticipated Hangzhou Asian Games events in 2023 are expected to expand the esports user base.
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Chinese consumers select fast food products based on specific needs and scenarios
The age of Chinese users is mainly 18-35 years old, most of whom are married and have children
In addition to established and emerging Chinese convenient fast food companies,
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