United Kingdom HRI Food Service Annual Report 2010
This report gives an overview of the foodservice industry and its various sectors within the UK. It explains how the current economic downturn is affecting UK foodservice industry and identifies the major players, as well as giving contact information for all the main groups within the industry. Healthy food options are the hottest trend in the HRI sector, while the market remains receptive for new U.S. products.
In the last 12 months UK consumer foodservice has seen a decrease in consumer demand due to the slowdown in the UK economy. In January 2009, the UK officially entered a recession with slowing house prices, inflation within the retail channel, and leading to higher food prices. The knock on effect to this is that consumers are less likely to dine out. Although the UK is officially now out of a recession, it will take a few years for the UK to recover.
The number of people becoming unemployed continues to rise, with many job cuts coming from within the financial sector which in the past its consumers were a key driver in the higher end foodservice restaurants.
Although the UK will see an improvement in overall spending, UK consumers will still be watching what they spend their money on and therefore the total number of HRI outlets is still likely to fall. Quick service restaurants are likely to continue to do well with consumers spending less.