Trouble brewing: A spike in the world price of coffee has tamped down profit margins
The Cafes and Restaurants industry has benefited from climbing discretionary incomes and changing consumer trends. Higher incomes have provided greater purchasing power to households to spend on food and beverages sold by cafes and restaurants. Trendy casual dining options have become increasingly popular, with consumers seeking out more fashionable casual meal options. Higher health consciousness has fuelled demand for healthier premium food options. Industry revenue is resultingly expected to expand at an annualised 2.4% over the five years through 2022-23, to $7.3 billion. Revenue has jumped by 3.5% in 2022-23 alone, as the government eases COVID-19 restrictions.
Cafes and restaurants mainly serve food and beverages for consumption on the premises. Customers generally order and are served while seated and pay after eating. The industry includes cafes and coffee shops, and licensed, unlicensed and BYO restaurants. Catering services, takeaway food services, theatre restaurants and pubs are excluded from the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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