Sales in UK restaurants, hotels, quick service dining outlets, cafes, contract caterers and takeaways improved by 2% during 2014 and Horizons anticipates similar growth for 2015 as consumer confidence improves.
Horizons’ managing director Peter Backman said: “It won’t be a meteoric rise this year, but sales are likely to see steady growth if consumer confidence continues to improve, prompting a rise in average spend.
Peter detailed that limited product takeaways such as Mexican street food and coffee outlets could be amongst those who benefit from further growth as they occupy small outlets in high traffic areas for customers looking to satisfy their need to buy food when and where they want.
He added: “We envisage this trend continuing as entrepreneurial operators come up with novel ideas for brands. It is these operators who will bring new food trends to the market by renting small, cost-effective spaces that larger brands can’t.
“The larger players are now at the point where they will start to ask where further growth will come from. The eating out market in some sectors is reaching saturation and overseas expansion is difficult for most, so acquisition through 2015 and into 2016 is the obvious answer. Investors are much keener on the eating out sector than they were and obtaining finance for deals will get easier.”
Horizons foodservice consultants help clients with business decisions by providing detailed information on the market’s trends and opportunities.