Hungary - The Future of Foodservice to 2021

  • ID: 4334352
  • Report
  • Region: Hungary
  • 111 pages
  • GlobalData
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FEATURED COMPANIES

  • Burger King
  • Don Pepe
  • Il Treno
  • KFC
  • McDonald's
  • Pizza Forte
  • MORE
Hungary - The Future of Foodservice to 2021

Summary

European Commission expects Hungary’s real GDP growth to reach 3.5% in 2017 (up from 1.9% in 2016). This growth will be driven by government measures to raise the minimum wage, decrease employers’ social security contributions, and cut corporate income tax for companies. Hungary also boasts the third lowest unemployment rate in the EU, at 4.6% as of late 2016 (against a Euro area average of 9.8%).

Sales value in the Hungarian profit sector foodservice market rose at a CAGR of 2.3% from 2014-2016, forecast to expand marginally to 2.5% to 2021. Although the FSR channel leads the profit sector in terms of sales value, it is also forecast to experience some of the weakest growth rates in revenue, transactions and outlets to 2021.

Quick Service Restaurants (QSR) channel is Hungary’s third largest profit sector channel in terms of revenue, worth approximately HUF370 billion and generating a 20.5% share of total profit sector sales value in 2016. Despite Hungary’s positive economic outlook, falling unemployment rates and rising wages, consumers’ financial confidence remains relatively subdued, driving visits to the value-focused QSR channel. Hungarian QSR channel remains heavily fragmented, with chain operators only generating a combined 11.5% share of channel sales value in 2016.

Full Service Restaurants (FSR) channel is Hungary’s largest foodservice channel in terms of revenue, accounting for 24.4% of the profit sector, and for just over half of the restaurant market. Growing wages, falling unemployment and cautiously rising financial confidence will continue to drive steady and moderate revenue growth in the channel, at a CAGR of 1.6% to 2021. Outlet and transaction numbers will, however, both continue to experience stunted growth, at forecast CAGR of 0.5% and 0.9%, respectively.

Hungary’s pub, club and bar channel is highly fragmented, with chains only generating 2.4% of total channel revenue in 2016. 71% of consumers also expressed a general preference for independent operators, valuing these outlets’ ‘familiarity’ and ‘uniqueness’, as well as the availability of more ‘niche’ and ‘craft’ products.

The report "Hungary - The Future of Foodservice to 2021" provides extensive insight and analysis of Hungary's foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following analysis -
  • Overview of Hungary’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Hungarian foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
  • Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR and Pubs, Clubs and Bars) within the Hungarian foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
  • Customer segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Hungarian population.
  • Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
  • Case Studies: Learn from examples of recent successes and failures within the Hungarian foodservice market.
Companies mentioned in this report: Burger King, Don Pepe, Il Treno, KFC, McDonald's, Pizza Forte, Salad Box.

Scope
  • The QSR channel is Hungary’s third largest profit sector channel in terms of revenue, worth approximately HUF370 billion and generating a 20.5% share of total profit sector sales value in 2016. Despite Hungary’s positive economic outlook, falling unemployment rates and rising wages, consumers’ financial confidence remains relatively subdued, driving visits to the value-focused QSR channel.
  • 66% of consumers ‘enjoy experimenting with products from different cultures or countries’, and 61% of FSR consumers strongly agree that ‘they are often more willing to try new things when eating out’. Engaging with experimental and inquisitive consumers has been key to Don Pepe’s growth strategy and successful expansion in a market overwhelmingly dominated by independent operators
  • Value growth in takeaway will outperform dine-in across all restaurant channels from 2016-2021.Takeaway growth will be most pronounced in the QSR and FSR channels, where sales value generated from takeaway is forecast to rise at a CAGR of approximately 5.0% to 2021.
Reasons to Buy
  • Specific forecasts of the Hungarian foodservice market over the next five years (2016-2021) 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 and Pubs, Clubs and Bars) 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 the Hungarian foodservice market.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Burger King
  • Don Pepe
  • Il Treno
  • KFC
  • McDonald's
  • Pizza Forte
  • MORE
Introduction
Report Guide
Executive Summary

Macroeconomic Context
GDP and Consumer Price Index
Population and demographic highlights
monthly household income distribution

Introducing the Consumer Segments
Consumer segment profiles and key identification metrics
Segment engagement overview in four key profit sector channels

Profit Sector Metrics
Key metric highlights
Value share and growth by channel
Outlets and transactions growth by channel
Operator buying volumes and growth by channel
Channel historic and future growth dynamics
Outlet type and type of ownership growth dynamics

Pubs, Clubs and Bars
Summary and key take-out
Metrics
Key consumers
Why?
What?
Where?
What next?

Cost Sector Metrics
Cost operator trends - historic and future growth
Data and channel share breakdown

Appendix
Note: Product cover images may vary from those shown
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  • Burger King
  • Don Pepe
  • Il Treno
  • KFC
  • McDonald's
  • Pizza Forte
  • Salad Box
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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