Emma Read, director of marketing and business development with foodservice analyst Horizons, predicts that the lunch market, already worth £14.9bn, will occupy a growing share of overall foodservice sales.
Speaking at the lunch! trade show, Read said: “Britain’s lunch market is worth £14.9bn, that’s 35% of the total foodservice market. Growth over the past few years has outperformed what is essentially a flat market overall. Lunch business has risen by 3.3% on 2009 figures. We expect this growth to continue and expect the lunch market to account for closer to 36% of the total foodservice sector by 2014.
“Driving the lunch market is the fact that time-pressed consumers no longer make their own lunch, preferring quick options wherever they are. They are also prompted to eat out by money-off vouchers and meal deals, many of which are predominantly lunch-based. Work pressure also means that consumers are more likely to opt for a takeaway to eat at their desk.”
However, she warned eating out operators that the offer had to be right to capitalise on this growing market, as consumers are increasingly demanding.
Horizons’ 2012 consumer QuickBite research showed that food quality was the biggest factor in choosing an eating out venue, with price second on the list.
“Across the board consumers are becoming more discerning and particular about how they spend their money. They have high expectations and expect good quality food, friendly service and a relaxed ambience. While consumers have continued to eat out throughout the downturn, our research shows they are only willing to do so when an outlet meets these high expectations and the price is right,” Read added.