Australia HRI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Australia HRI market is projected to grow, witnessing a CAGR of 3.95% during the forecast period (2020-2025).

Key Highlights

• The Australian HRI market is significantly dominated by full-service restaurants. In order to cater the consumers, restaurants are innovating their models and introducing newer concepts in foodservice, with several key features, such as the use of organic produce, local consumption, and, in short, a sustainable process from contracting staff to the establishment's carbon footprint. The key idea is maintaining a balance to avoid running out of resources and using products and processes that do not harm the environment.
• Australia had witnessed a great potential demand for chained form of fast food and full-service restaurants, over the past few years. The increasing trend of the consumers opting for chained food outlets for the trusted and quick services resulted in the market players introducing this concept. For instance, in August 2019, Subway, one of the country’s largest quick service restaurant brands, launched a nationwide first grab ‘n’ go menu at one of its busiest retail locations, at the University of Queensland.

Key Market Trends

Growth in Chained Consumer Foods Restaurants in Australia

Globally, there is a rise in the number of chained consumer food service restaurants. This trend is also reflected in Australia. Several international brands and food joints are exploring new markets and penetrating into the existing ones, in order to expand their business activities and gain a competitive advantage. Thus, several players, like McDonald's, Domino's, Pizza Hut, KFC, Subway, and Hungry Jack's (Burger King), are continuously engaged in developing their market cap by opening new outlets around Australia. Over the past decade, Domino’s has continued to expand its presence in Australia, and had 693 outlets located across the country, as of 2018.

Home Delivery and Takeaway To Grow At The Fastest Rate

The market studied is majorly driven by robust consumer reliance on the overall food home deliveries through platforms, such as Menulog, UberEats, Deliveroo, and Foodora. As per the research conducted by finder.com.au, Australians spend around USD 2.6 billion each year on food and drink delivery. The statistic offers promising business for 100% home delivery restaurants operating in the country. Nonetheless, takeaway restaurants are gaining popularity among service providers for being able to cut numerous costs, from labor to space rent, while earning significant revenue in exchange. Many entrepreneurs are establishing startups dedicated to contribute in the segment sales. One such initiative is FoodByUs, which allows home cooks to collaborate and boost their food deliveries through online channel. Notably the segment is projected to grow at a CAGR of 5.24 during the forecast period.

Competitive Landscape

The key players engaged in HRI market of the Australia are Yum! Brands, Inc., McDonald's Corporation, Domino's Pizza, Inc., Starbucks Corporation, Restaurant Brands International Inc., Nando’s, Hungry Jack's Pvt Ltd, Bucking Bull, Dunkin Brands and others. Market players are strictly abiding by the regulations, by following the food safety standards. The regulations place obligations on Australian food businesses to produce food that is safe and suitable to eat.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support