Takeaway & Fast-Food Restaurants in the UK Industry Market Research Report Now Updated by IBISWorld
London, United Kingdom (PRWEB) July 04, 2013 -- The Takeaway & Fast-Food Restaurants industry has suffered during the past five years as deteriorating economic conditions prompted consumers to cut back on discretionary spending. According to IBISWorld industry analyst Steven Connell, “operators in the industry are facing increasing consumer demand for low-fat, low-sugar and low-salt meal options”. The industry will record weak growth during 2013-14 as some consumers trade down from more expensive restaurant meals and uncertain times lead others to their favourite comfort foods. Mobile and online technologies are changing the industry and many operators now offer online ordering and delivery services. Industry revenue is estimated to decline at a compound annual rate of 1.7% over the five years through 2013-14, to reach £5.5 billion. Revenue growth in the current year is anticipated to be 1.7%.
Industry growth is forecast to lift slowly over the next five years through 2018-19, in line with the broader economy. Early on, the subdued recovery and continued uncertainty is expected to hold back growth. Some industry operators should still benefit as some consumers trade down to takeaways from more expensive dining options. Later in the period, growth is forecast to improve once more as consumers loosen their purse strings again. Connell adds, “consumer demand for convenient, healthy food options will drive expansion and innovation in the industry”. The growing popularity of mobile and online ordering will be a key driver of growth for the industry as more people use their smartphones to order pizzas, or websites like Just Eats to find other takeaway options. Profitability in the industry is forecast to strengthen gradually over the five years through 2018-19, accelerating later in the period as consumer spending picks up and health and convenience drive growth. However, rising food prices will constrain profitability growth.
Establishments in the Takeaway & Fast-Food Restaurants industry are generally owner-operated and fragmented. However, the franchise and chain segment is continuing to expand its share by opening new stores in various locations. The overall level of industry concentration is medium, with the top four players generating 63% of total industry revenue. Concentration levels are expected to rise over the next five years as major operators continue to extend their reach with existing brands. Major companies include McDonald’s Corporation, Doctor’s Associates, Yum! Brands and Domino’s Pizza Group.
For more information on the Takeaway & Fast-Food Restaurants industry, including latest industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research.
IBISWorld industry Report Key Topics
Customers usually pay before eating at takeaway and fast-food restaurants. Food and drink purchases from these restaurants are consumed on-site, taken away or ordered over the phone or internet for home delivery. Most industry players sell beverages (water, juice or soft drinks), but not usually alcohol.
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About IBISWorld
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on many UK industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in London, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.co.uk or call (020) 3008 6568.
Gavin Smith, IBISWorld, 310 866 5042, [email protected]
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