Lyon, Feb. 12, 2020 (GLOBE NEWSWIRE) --
(Reports with the same structure are available on the following countries: (Canada, Germany, France, Malaysia, Spain, Egypt, Bulgaria, Hungary, Philippines, Belgium, Norway, Indonesia, Singapore, Czech Republic, Austria, South Africa, Hong Kong and South Korea)
New Zealand is universally regarded as an open, free-market economy, with low levels of regulation creating a favorable business environment. In fact, the World Bank regards New Zealand as the easiest country in the world to start a business in. Value growth of the market is largely driven by population growth, with per capita expenditure on foodservice falling historically.
Overall, New Zealanders are now more likely to be dining out for a wider range of occasions. Also, the availability of a wide variety of menu options is driving consumers to visit the channel. The growing health trend, rising takeaways, increased dining out and a high preference for local cuisines are driving profit sector growth in New Zealand.
The New Zealand - The Future of Foodservice to 2023 report provides extensive insight and analysis of New Zealand's Foodservice market over 2018-2023 and acts as a vital point of reference for operators or suppliers. According to the latest report, New Zealand's profit sector foodservice market was worth NZD$11.4 billion in 2018, following sales growth at a CAGR of 1.1% since 2016.
In 2018, New Zealand's QSR (quick service restaurant) market was valued at approximately NZD$3 billion, registering value growth at a CAGR of 1.4% since 2016. In the past week, 35% of New Zealanders have visited a QSR.
Takeaway and home delivery are expected to become major sources of income for FSR (full-service restaurant) operators in the coming years. Over the next five years, revenue generated by takeaways is forecast to reach a CAGR of 1.7%, outpacing that of dine-in, at 1.6%.
Companies mentioned
McDonald's Corporation, Yum! Brands Inc., KFC, Doctor's Associated Inc., Subway, Domino's Pizza Inc., Restaurant Brands International, Burger King, Pizza Hut, Barworks Hospitality Group, Little India, Asian Garden Hospitality, Joe's Garage, Colombus Coffee, Minor International PLC, Starbucks Corporation, Foodco Group Pty Ltd and Robert Harris
Reasons to read the report:
- Specific forecasts of the foodservice market over 2018-2023 will give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea shops) will allow readers understand the wants and needs of their target demographics.
- Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within New Zealand’s foodservice market.
Read the full report: https://www.reportlinker.com/p05839806/?utm_source=GNW