Changing Lifestyles & Rising Incomes to Enhance Restaurant Sales, According to a New Report from Global Industry Analysts
Global restaurants industry is expected to witness rapid growth driven by changing consumer lifestyles and rising levels of disposable incomes. A rapidly expanding travel and tourism industry is also expected to boost sales of the worldwide restaurants industry. With vast potential offered by developing countries, several renowned restaurant chains are expanding operations in these regions.
San Jose, CA (PRWEB) September 9, 2008
The restaurant industry, although perceived as part of the food industry, is a major sector on its own, generating a large share of sales for the overall foodservices industry. The sector in itself features a large number of segments offering diverse range of food services. Restaurant sector primarily includes restaurants, food & beverage services offered in hotels, foodservice contract systems, retail stores offering food services, and similar food service sections in multiunit entities.
Growing preference for outside food brought on by busy consumer lifestyles is a major driving force for the global restaurant industry (http://www. strategyr. com/Restaurants_Industry_Market_Report. asp). Increasingly busy lifestyles of consumers with little time for cooking, and growing popularity of recreation and get-togethers offer enormous growth opportunities for the restaurant industry. Changing concepts of restaurant dining have brought forth the significance of novel and exotic tastes, luring consumers into experiencing this aspect. New outlets offering novel and exciting menus are expected to pull consumers to the restaurants. Growth in the tourism sector the world over is also expected to have a positive impact on the restaurant industry.
A healthy supply and demand balance, and changing demographics and consumption patterns are factors that offer support for long-term growth of the industry. Rising income levels, particularly among younger consumers, is a major factor influencing growth in the restaurants industry. Growing health consciousness among consumers is also a major factor contributing to the rising demand for healthy and organic food in restaurants.
Fast food restaurants market (http://www. strategyr. com/Restaurants_Industry_Market_Report. asp) is characterized by limited service, which implies no table service but a casual fast food option, offering mostly takeout menus. Despite high costs involved in their establishment, renowned restaurant chains have ventured into emerging markets such as Asia-Pacific, Eastern Europe, Middle East and Africa. Majority of the restaurants keep local tastes and flavors in mind, and adapt their menus to incorporate the same. Fast changing lifestyle, and the blurring concept of family dinners is expected to provide a strong impetus to the fast food market across the world.
Sales from the limited-service or quick-service restaurant (http://www. strategyr. com/Restaurants_Industry_Market_Report. asp) segment are expected to grow rapidly, driven by enhanced consumer demand for convenience and value. Growth in the international and domestic travel and tourism sectors are also expected to promote sales in the limited service segment. However, the sector faces challenges in the form of increased competition from convenience and grocery stores, and rising operational costs.
The report titled "Restaurants: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a quick primer, and update on the trends and outlook for the restaurant industry, and enumerates recent mergers, and acquisitions. The report offers a discussion on key regional markets including United States, Japan, UK, and China. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 1,146 companies worldwide.
For more details about this research report, please visit
Http://www. strategyr. com/Restaurants_Industry_Market_Report. asp (http://www. strategyr. com/Restaurants_Industry_Market_Report. asp)
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyr. com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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