Industries with the Largest Number of Businesses in China in 2024

1. Cotton Growing in China

Number of Businesses for 2024: 50,200,000

Revenue from the Cotton Growing industry in China is estimated to reach $17.3 billion in 2023, up 6.8% from 2022. Industry revenue is expected to rise an annualized 3.2% over the five years through 2023. These increases have largely been the result of increasing demand from synthetic fiber manufacturers and cotton prices.

China is the largest producer of cotton in the world. China is also the largest global consumer market for cotton, as cotton is one of the main raw materials for many Chinese industries. China has about 50.3 million cotton farming enterprises, mostly households, operating in the industry, with approximately... Learn More

2. Fast-Food Restaurants in China

Number of Businesses for 2024: 2,467,886

In recent years, lifestyle changes and reduced leisure time have contributed to a consumer shift from traditional full-service restaurants toward fast-food establishments. In addition, increased Western influences in China have boosted demand for fast food. Due to the rapid development of fast-food service providers, improvements in chain store and franchising management, and new brands and food styles, industry growth has been strong over the past decade.

ACMR-Alfabank-Adres estimates that the Fast-Food Restaurants industry in China will generate $176.3 billion in 2023. Revenue is expected to increase by 7.2% in 2023 as the industry recovers from the COVID-19 outbreak. Industry revenue is... Learn More

3. Full-Service Restaurants in China

Number of Businesses for 2024: 2,395,000

Full-service restaurants in China account for the largest revenue share of China's catering subsector. Approximately 80% of the total catering subsector's revenue came from the Full-Service Restaurant industry.

The Full-Service Restaurants industry's proportion of the total catering subsector has decreased slightly in recent years, due to the rapid growth of its main external competitor, the Fast-Food Restaurant industry. Nevertheless, industry revenue has grown steadily over the past five years. Industry revenue is expected to increase at an annualized rate of 3.6% over the five years through 2023. This includes 18.7% growth in 2023, to total $643.5 billion, reflecting recovery after the... Learn More

4. Chinese Medicinal Herb Growing in China

Number of Businesses for 2024: 2,349,670

As the production raw materials in the upstream of the industry chain, Chinese Medicinal Herb Growing in China is the basis for the development of the traditional Chinese medicine industry. China began the cultivation and planting of Chinese medicinal materials as early as the Tang Dynasty. The Qing Dynasty began large-scale cultivation of Chinese medicinal materials. However, the large-scale cultivation of many varieties began in the 1950s. At present, it has reached the stage of large-scale, intensive and industrialized cultivation base production. China is one of the largest growing and consumer countries of ginseng and pseudo-ginseng in the world. Rising... Learn More

5. Legume Growing in China

Number of Businesses for 2024: 2,161,540

China is the largest legume-consuming country in the world. Legumes such as soy are the main input in commonly used domestic cooking oils and bean products. China is the fourth largest producer of legumes in the world, with 127 billion square meters of planting area in 2022. Revenue for the Legume Growing industry is expected to rise at an annualized 7.7% over the five years through 2023, to $25.2 billion. This trend includes anticipated growth of 7.2% in the current year.

As legumes are not high-yielding crops and large quantities of imports have lowered domestic legume prices, many farmers have reduced... Learn More

6. Tobacco Growing in China

Number of Businesses for 2024: 2,101,366

Tobacco is grown on less than 1% of the world's agricultural land and in a wide variety of soils and climates. Since the 1960s, the bulk of production has moved from the Americas to Africa and Asia. Land devoted to tobacco growing has been halved in the United States, Canada and Mexico, but has almost doubled in China, Malawi and Tanzania.

Due to the issuance of China's Tobacco Control Program in late 2012 in response to the World Health Organization Framework Convention on Tobacco Control (WHO FCTC), tobacco leaf production capability has been declining since 2013. In 2013, the planting area... Learn More

7. Sheep and Cattle Farming in China

Number of Businesses for 2024: 1,814,506

Revenue for the Sheep and Cattle Farming industry in China is expected to increase at an annualized 7.0% over the five years through 2022, to $144.1 billion. This includes an expected revenue increase of 3.8% in the current year. Domestic demand for beef and mutton in China is expected to increase at an annualized 7.1% over the five years through 2022, due to China's rising population and improved living standards. In addition, the prices of these meats have steadily increased over the past five years.

The industry's profit margins have declined over the past five years due to rising raw material... Learn More

8. In-Home Care & Other Household Services in China

Number of Businesses for 2024: 759,700

The In-Home Care & Other Household Services industry in China has developed significantly in recent years. The industry has grown particularly due to the improving income levels of Chinese residents, increasing number of new births and elders, accelerating pace of life, and a high labor force participation rate. Industry revenue is expected to total $126.5 billion in 2022, which is a 14.2% increase from 2021. Moreover, the industry is anticipated to have an annualized growth rate of 13.5% over the past five years. Industry profit is low, with an average of 7.1% of industry revenue in 2022, mainly diminished by... Learn More

9. Poultry Farming in China

Number of Businesses for 2024: 533,552

Revenue for the Poultry Farming industry in China is expected to grow at an annualized 5.2% over the five years through 2023, to $135.2 billion. This steady growth has occurred due to rising poultry prices and output growth. Total poultry meat output is expected to increase by 3.2% in 2023, to 25.2 million tons, while revenue is set to grow by 5.4%. For a typical poultry farm, feed and poultry prices largely determine returns.

Profitability can vary significantly among establishments and across different regions. ACMR-Alfabank-Adres estimates the industry's overall profit margin to be 13.0% in 2023.

Revenue is forecast to rise at... Learn More

10. Shoe Stores in China

Number of Businesses for 2024: 435,227

Strongly growing domestic demand for footwear from China's large population has supported the development of the Shoe Store industry in China over the past five years. In addition, rising income levels and the availability of a wider range of higher quality footwear products has boosted domestic sales for the industry. Industry revenue is expected to increase at an annualized 1.5% over the five years through 2023, to reach $55.5 billion, including expected growth of 4.5% in the current year.

Mainland China has been the largest global manufacturing base for footwear since the 1990s. Currently, China supplies over 65.0% of global footwear... Learn More