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Restaurants Market Report Plus 2007
Key Note Publications Ltd, Oct 2007
British consumers have cosmopolitan tastes in food and the typical town centre offers a very diverse range of restaurants. Established sectors in the UK restaurants market include curry houses, Chinese restaurants, pizza restaurants, US-branded fast-food restaurants and hotel restaurants. New concepts, such as Nando's — specialising in Portuguese chicken recipes — constantly appear. However, the largest and fastest-growing sector is the restaurant in a pub. The growth of pub-restaurants illustrates the lifestyle shift from drinking to eating out.
Consumer research commissioned in 2007 illustrates the diversity of taste in the UK, with the range of popular dishes recently ordered in restaurants including oriental stir-fries, fish and chips, chicken tikka masala, pizza, salads as a main course, pasta dishes, burgers, steaks and sausages.
The majority of the UK's restaurants are independent, often family-run, businesses. However, there are also national and international chains, often US-based, including the burger giants McDonald's and Burger King, and the British representatives of Yum! Brands Inc (the Pizza Hut and KFC chains).
Domestic operators include Whitbread (owner of the popular Brewers Fayre), Mitchells & Butler's (Harvester, Toby's Carvery, etc.) and other pub-restaurant developers. Smaller groups, increasingly owned by private-equity firms, include Gondola Holdings (PizzaExpress), Tragus Holdings (Café Rouge, Strada, etc.) and the quoted The Restaurant Group PLC (Frankie & Benny's, Garfunkels, etc.).
Consumer spending on restaurant meals reached £12.88bn in 2006 and is forecast by Key Note to increase to £13.1bn in 2007. However, the rate of growth has decreased year-on-year, from 5.9% in 2004 to 1.7% in 2006. Reasons for slower growth include reduced consumer confidence, which impacts on leisure spending generally, market saturation and the campaign against obesity.
However, the underlying trends for the restaurants market are favourable: in 2006, the majority of adults — including more than 80% of those in the A and B social grades — visited a restaurant in the evening in the last 12 months. Avoiding cooking at home has become part of the lifestyles of busy consumers, particularly families with two earners. The ban on smoking in restaurants, which went UK-wide from July 2007, should be beneficial to the restaurants trade in the long term.
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