Uncertain times for UK take-away and fast food restaurants

According to IBISWorld industry analyst Steven Connell, "the industry will record weak growth during 2012-13, with some consumers trading down from more expensive restaurant meals, while uncertain times led others to find sustenance in their favourite comfort foods".

Mobile and online technology are changing the industry, with many operators offering online ordering and delivery services. Industry revenue is estimated to decline at an average annual rate of 2.2 per cent over the five years to 2012-13 to reach £5.29 billion, with 1.3 per cent growth in the current year.

Industry growth is forecast to lift slowly over the next five years, in line with the broader economy. Early on, growth will be held back as austerity measures, high unemployment and ongoing concerns over the European debt situation continue to foster a climate of uncertainty.

Some industry operators should still benefit as some consumers trade down to take-away from more expensive dining options.

Growth is forecast to improve later in the period as consumers loosen their purse strings again. Connell adds, "Consumer demand for convenient, healthy food options will drive growth and innovation in the industry, while mobile and online platforms will become increasingly important for ordering".

The take-away and fast food restaurants industry is generally owner-operated and fragmented.

However, the franchised and chain segment is continuing to expand its share by opening new stores in various locations, as well as by attempting to steal market share from other companies. The overall level of industry market share concentration is medium. Major companies include McDonald's, Yum! Brands, Domino's Pizza and Doctor's Associates.

For more information on the take-away and 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.

Source: PRWeb