The Future of Foodservice in Australia to 2016
The Australian foodservice market remained resilient throughout the 2008 global financial crisis, with the country's continued GDP growth helping to ensure strong foodservice sales, and only causing the growth of the market to slow, rather than the decline seen in many other countries worldwide.
Overall in 2011, total foodservice sales valued AUD44,241.2m, with sales and the number of transactions increasing as a result of a growing shift towards smaller households and working families. This market growth is expected to continue in the forecast period, due to the increasing popularity of eating out-of-home and casual dining. Also, the increasing health-consciousness of Australian consumers has been reflected in the addition of healthier options to restaurant menus, a trend expected to continue in the forecast period.
Although the global foodservice industry saw reduced demand and a decreased number of transactions as a result of the global financial crisis, the Australian foodservice market managed to weather the crisis, with both number of transactions and sales volumes continuing to grow from 2008 to 2010, albeit at a lower rate than pre-2008. Following the global financial crisis, Australian foodservice operators ensured continued sales growth by introducing menu changes and increasing the number of promotions, with full service restaurants, for example, increasing their range and number of promotions.
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