Dublin, June 28, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom (UK) Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
'United Kingdom (UK) Foodservice Market Size and Trends Report provides extensive insight and analysis of the UK Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.
The overall value of the UK's foodservice profit sector decreased at a negative CAGR of 1.5% during 2017-22, standing at GBP72.6 billion ($89.8 billion) in 2022, due to a decrease in the number of transactions triggered by the COVID-19 pandemic, decrease in tourism and high inflation rates. Take-away and deliveries led the overall growth in the foodservice sector while dine-in services suffered.
In 2022, chain operators led in market value with a share of 73.9% and independent operators accounted for a share of 26.1%. During 2022-27, independent operators will grow at a faster CAGR (10.0%) than chain operators (7.2%). The UK profit sector will register a CAGR of 8.4% 2022-2027 supported by an increase in transaction count. Pub, club & bar was the largest foodservice profit sector channel in 2022, with a share of 31.7%.
The channel is popular as it often provides entertainment and a place to socialize among British consumers. It was followed by QSR with a share of 17.9%. FSR was the third largest foodservice channel with a share of 12.7% followed by accommodation and coffee & tea shop with shares of 12.5% and 8.8%, respectively.
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UK's nominal GDP per capita posted an annual increase of 1.8% in 2022. Consumer price index in the UK peaked at 7.9% in 2022. The rise was led by the increase in the cost of consumer goods, supply chain bottlenecks, and the energy crisis. Food prices increased annually by 18% in February 2023. The foodservice profit sector generated value sales of GBP72.6 billion ($89.8 billion) in 2022, declining at a negative CAGR of 1.5% during 2017-22. The number of transactions decreased at a negative CAGR of 2.1% during 2017-22, while the number of outlets fell at a negative CAGR of 0.2%. Pub, club & bar was the largest foodservice profit sector channel in 2022, with a share of 31.7%. The channel is popular as it often provides entertainment and a place to socialize among British consumers. It was followed by QSR with a share of 17.9%
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FSR was the third largest foodservice channel with a share of 12.7% followed by accommodation and coffee & tea shop with shares of 12.5% and 8.8%, respectively. During 2022-27, all the channels are forecast to record significant growth as tourism resumes to full capacity. Ice cream parlor will increase the fastest at a CAGR of 12%, followed by travel and FSR at CAGRs of 11.5% and 11.3%, respectively