Hot Pot Fever: Hot pot heats up China's restaurant industry
[]
02:05
This next story could make your mouth water. One of China's iconic dishes - hotpot - has been bubbling in popularity over the years. And it's now become the top choice when dining out in the country. Natasha Hussain brings us the heat.
One of the most popular food streets in Shenzhen, is dotted with more than a dozen hot pot restaurants. Out of all of China's delicacies, the country's favorite food is steaming broth with meat and vegetables.
CUSTOMER SHENZHEN "I love hot pot, especially when people eat together."
SHOP OWNER SHENZHEN "Our business has been getting better and better in recent years. We can serve more than 160 tables of customers a day."
In 2016, people in China spent 3.5 trillion yuan dining out. Of the country's many types of food and cuisines, hot pot was the most popular, eating 22% of market share. The country now has nearly 300 thousand restaurants in the hot pot business, accounting for five percent of the food industry.
Experts say consumers' prodigious appetite, and how hot pot relies less on processed food, are the main reasons behind the feeding frenzy for the cuisine. One of China's most well-known hotpot chains, Sichuan Haidilao, has created an empire of 200 outlets over 20 years, both at home and abroad. And it's not only a multi-million-dollar business for restaurants, especially now that ready-to-eat products are available at convenience stores and online supermarkets.
WALMART EMPLOYEE SHENZHEN "These are the latest products which can satisfy people's demand for hot pot at any time at any place, so they're well welcomed."
They're also notching up the industrial chain of ingredient and condiment supply, as well as delivery services. It is estimated that China's hot pot market will reach more than 570 billion yuan by 2020. As nothing is better than a taste of it, boiled from water.