Market Research Report
United Kingdom Foodservice Market - Growth, Trend and Forecast (2021 - 2026)
|Published by||Mordor Intelligence Pvt Ltd||Product code||708544|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|United Kingdom Foodservice Market - Growth, Trend and Forecast (2021 - 2026)|
|Published: March 1, 2021||Content info: 80 Pages||
The United Kingdom foodservice market is projected to register a CAGR of 3.02% during the study period (2021-2026).
There has been a definite impact of the coronavirus outbreak on the overall foodservice business, with various segments being affected in varying degrees in the United Kingdom. The COVID-19 pandemic has placed unprecedented stresses on food supply chains, with bottlenecks in farm labour, processing, transport and logistics, as well as momentous shifts in demand. Lockdown resulted in the closure of all pubs, cafes and restaurants in the country. During this time, the entire industry came to a complete halt, however, some restaurants remained open for delivery and takeaway. To address the lockdown hit to the industry, the UK government implemented an initiative to help the restaurant industry: the Eat Out to Help Out scheme in August 2020 following the first COVID-19 lockdown. During the month of August, dinners in participating restaurants received a 50% discount on food items, up to GBP 10, purchased in restaurants, pubs and cafes. Such factors are likely to change the market scenario in the coming years.
Over long term, British consumers dine out more frequently solo dinning is one of the on-going trends, reflecting the busy and hectic lifestyle of the consumers. In 2016, restaurant booking site, OpenTable, claimed that the number of bookings for dinners-for-one have increased by 110% over 2014-2016. The foodservice operators are benefiting from a dynamic and expanding corporate sector in areas, like full-service dining, among other sectors.
The increasing frequency of restaurants offering various ethnic foods, such as Asian, American, Chinese, Japanese, and Thai cuisines are the major factors driving the market in independent outlets among the consumers. Furthermore, increasing number of quick service restaurants, such as KFC, MC Donald's, Pizza Hut, Dominos, and others have captured maximum consumer attention, looking for convenience in their everyday meal requirement.
Cafes and Bars Holds Significant Share in the Market
The country's strong cafe culture has resulted in an increasing number of cafes and bars establishments every year. In 2017, about 1,215 cafe stores were opened, with more than three cafes opening per day on average across the country The increasing number of cafes and bars includes a blend of non-specialists, independents, and major chains, such as Starbucks, Costa Coffee, and Caffe Nero, thus, meeting the consumer's demand for different coffee blends. About 39% of the consumer in the United Kingdom claim that their coffee consumption has increased over the past couple of years, with 18% visiting cafes at least once a day. The country's strong coffee culture has registered a significant growth of coffee shops/cafes. As coffee consumption increases in the country, this beverage is increasingly considered an important part of the consumer's everyday lifestyle.
Growing Demand for Multicuisine or Ethnic Cuisine
The demand for multi or ethnic cuisine in European countries including United Kingdom, is increasing, as more consumers, especially millennials and baby boomers, are willing to experiment with new and global cuisines. Moreover, the high rate of immigration, tourist population, and increasing sporting events have supported the ethnic food demand in the country. Therefore, in order to serve the personalized taste of the consumers, this creates an opportunity for the cuisine-specific caterers or restaurants, to set up their kiosks in the games village and stadiums or near to these venues, where these sporting events are being held, in order to increase the indulgence of sports with ethnic food. Some of the most popular ethnic cuisines consumed include Japanese, Chinese, Mexican, Italian, Greek, French, Thai, Spanish, and Indian, which are increasingly served to Consumers via hotels, restaurants, food halls, fast food holdings, etc.
United Kingdom foodservice market is highly competitive, owing to the number of small and giant players dominating the market. Some of the key players in the market are McDonald's, Starbucks Coffee Company, Domino's, Whitbread PLC, and Yum! Brands . Major players are embarking on market expansion and innovations in terms of online delivery of food service to achieve consolidation while optimizing their offerings respectively and increase their market share.