The UK eating out market is set to see turnover of £95.2 billion in 2022 – this is +4.2% ahead of 2019 levels and has predominately been driven by inflation. However, all is not lost for the out-of-home industry. We’re seeing shining lights within the industry such as sandwich shops, cafes, bakeries and fast-food outlets driving growth within the industry. All businesses within these sectors are categorise as Quick Serve Restaurant (QSR).
QSR channels are forecast to lead growth in the market. Growth here is underpinned by both strong physical expansion and a greater resistance to the impact of reduced consumer spending, as we enter the cost-of-living crisis. Currently, it’s much more affordable to nip out for a coffee and a cake (or sandwich), than it is to dine out for a meal.
As we being to close the chapter on 2022, we’re seeing more consumers eating out at lunchtime. This growth has come at the expense of dinner occasions which have declined by 4.4%, as consumers opted for daytime occasions including lunch, snack and drink-only. This is driven by more workers being back in offices and seeking quick, affordable, and on-the-go solutions.
This edition of The Krumb explores the QSR sector and pinpoints how and why they are set to lead the recovery of the eating out market.
Read the latest edition of The Krumb, The QSR Sector, Sectors Set To Drive.