According to exclusive research from MCA Insight – a leading research insight agency across the foodservice & hospitality out sectors – the eating and drinking out market is set to grow by £5billion across the next three years to reach £94.4bn.
The insight, from MCA’s exclusive UK Eating Out Market Report 2018 that launched today, was conducted through online consumer surveys, analysis of MCA’s market sizing and company tracking databases and assorted operator-specific research. The results look at the key trends affecting the market, the competitive landscape, the changing needs of consumers and the outlook for future development.
The value of the UK eating out market is set to grow 1.5% in 2018, down from 1.7% in 2017, and the lowest rate over the past five years.
Steve Gotham, director of insight at MCA, says: “Growth across the sector has slowed due to decreasing visit frequencies.Demand-side factors around weakening consumer confidence and very limited growth in real pay levels are forcing consumers to be more selective with their discretionary spending and eat out less.”
“However, it isn’t all doom and gloom for the eating out sector. With a modestly recovering growth outlook and £5billion of additional spend up for grabs over the next three years, there is a substantial prize to be fought over. Better-managed, consumer-centric operators that stand out in this crowded market will be best placed to benefit.”
For more information and to find out how you can access the MCA UK Eating Out Market Report 2018, please get in touch with MCA through their website www.mca-insight.com.