A new study by Euromonitor International has offered revealed that the global consumer foodservice industry saw sales accelerate in 2015, helped in particularly by the fast casual dining segment.
Globally, sales were up 5.7% year-on-year, up from the 5.3% recorded in 2014. Fast casual dining was the strongest growing segment, with sales up 10.4% to $3.4bn, followed by Asian restaurants (+9.3%).
Elizabeth Friend, consumer foodservice strategy analyst at Euromonitor International, said: “Consumers are shifting their dining preferences, especially in developed markets. Coffee shops, for example, saw a high increase in sales last year, which shows that the dining-out culture is continuing to evolve toward more modern, premium, casual and social experiences.”
China continues to be the largest market for consumer foodservice, with sales up 9.5% to $617bn. China also accounted for the largest share of fast food orders place online (26%). The market is now forecast to record $235bn in new foodservice sales between 2015 and 2020, followed by the US and India ($48.8bn and $35.7bn, respectively).
Friend added: “China was the true growth leader during the year and we expect it to continue to offer strong growth opportunities ahead, albeit within the context of very high competition. Over the forecast period [2015 to 2020], more growth is projected in China than we saw in the previous five years”.