Food & Beverage Market Research News

Foodservice market is forecast to rise at a CAGR of approximately 5.0% to 2021 insights shared in detailed report

Food & Beverage Market Research

Although the FSR channel leads the profit sector in terms of sales value, it is also forecast to experience some of the weakest growth rates in revenue, transactions and outlets to 2021.

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"Hungary The Future of Foodservice to 2021", published by GlobalData, provides extensive insight and analysis of Hungary's foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

Sales value in the Hungarian profit sector foodservice market rose at a CAGR of 2.3% from 2014-2016, forecast to expand marginally to 2.5% to 2021. 

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Government cuts in social security contributions, as well as monthly minimum wage hikes in 2017 and 2018, are expected to boost financial confidence and consumer spending over the next two years, which will drive transactional growth across profit sector foodservice channels.

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Although wages are rising, 59% of Hungarians still earn a monthly household income of ≈USD$1,277and under, limiting occasions in higher priced and discretionary foodservice channels. Operators will also increasingly need to contend with low levels of engagement in the foodservice market among older consumers, as over-55’s are expected to represent over a third of the population by 2021.

The report includes
Overview of Hungary's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Hungarian foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR and Pubs, Clubs and Bars) within the Hungarian foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
Customer segmentation: indentify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Hungarian population.
Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
Case Studies: Learn from examples of recent successes and failures within the Hungarian foodservice market.

The QSR channel is Hungary’s third largest profit sector channel in terms of revenue, worth approximately HUF370 billion and generating a 20.5% share of total profit sector sales value in 2016. Despite Hungary’s positive economic outlook, falling unemployment rates and rising wages, consumers’ financial confidence remains relatively subdued, driving visits to the value-focused QSR channel.
66% of consumers ‘enjoy experimenting with products from different cultures or countries’, and 61% of FSR consumers strongly agree that ‘they are often more willing to try new things when eating out’. Engaging with experimental and inquisitive consumers has been key to Don Pepe’s growth strategy and successful expansion in a market overwhelmingly dominated by independent operators
Value growth in takeaway will outperform dine-in across all restaurant channels from 2016-2021.Takeaway growth will be most pronounced in the QSR and FSR channels, where sales value generated from takeaway is forecast to rise at a CAGR of approximately 5.0% to 2021.

Browse the complete report @…odservice-to-2021 

Reasons to access
Specific forecasts of the Hungarian foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR and Pubs, Clubs and Bars) will allow readers understand the wants and needs of their target demographics.
Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Hungarian foodservice market.

Companies Mentioned:
Burger King
Don Pepe
Il Treno
Pizza Forte
Salad Box

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