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Foodservice sector set for growth

Author Damien Wilde
Posted On 20th January 2015

Dining outThe number of people opting to dine out has increased over the course of the last calendar year and – in great news for all involved in the foodservice industry – that trend is expected to continue over the next twelve months.

“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,” commented Peter Backman, the managing director of the consultancy agency Horizons.

However despite this optimistic outlook, the figures remain someway short of 2008’s peak and expectations have been tempered somewhat by current global uncertainties, such as the forthcoming general election.

One of the biggest areas for growth during 2015 is projected to be small-volume takeaway outlets such as juice bars, coffee shops, bakeries and street vendors; places where customers can pick up food or drink from convenient locations in high traffic areas.

It is no surprise that juice bars were nominated on the list as the concept has featured as a top trend for 2015 on numerous industry websites.

The same can be said for the continued rise of the coffee shop; many analysts have predicted that the beverage sector will be able to expand at its current rate for another couple of years.

“We envisage this trend continuing as entrepreneurial operators come up with novel ideas for brands,” Backman explains.

“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 piece of research also noted that larger, more established brands and entities could well increase their portfolio this year by purchasing smaller rivals.

“The larger [companies],” Backman begins, “are not at [a] point where they will start to ask where further expansion is difficult for most…so acquisition through 2015 and into 2016 is the obvious answer.”

 

 

 

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