South Africa – The Future of Foodservice to 2021

2017-03-01
Price :
Published : Mar-2017
No. of Pages : 154

South Africa – The Future of Foodservice to 2021

Summary

South African economy has seen significant growth in recent years. The economy is however being held back by high unemployment and high rates of inflation. The South African Rand (ZAR) is forecast to continue to slide against the US dollar, eroding the purchasing power of consumers. Income in South Africa is distributed extremely unequally amongst different demographic groups and geographic locations. There are a number of extremely affluent suburbs on the outskirts of major cities that are prime locations for foodservice operators.

Despite the state of the wider economy, total profit foodservice sector revenue grew at a CAGR of 2.5% between 2014 and 2016, this growth is forecast to continue to 2021 at a CAGR of 2.6%.

Quick service restaurant (QSR) channel dominated the South African profit foodservice sector in 2016, accounting for over 50% of revenue in profit foodservice. The QSR channel saw a CAGR of 2.4% between 2014 and 2016 and this rate of growth is forecast to continue to 2021. Revenue growth in the channel is being driven to a greater extent by growth in transaction numbers than growth in outlet numbers.

Full Service Restaurants (FSR) is expecting to see a CAGR of 2.1% until 2021, making a channel value of ZAR 31.6 Billion. This will be driven mostly by a growing middle class who is eager to enjoy experiences above and beyond QSR. Growth in the channel is expected to continue, however some pressure will remain, especially for operators targeting consumers with lower incomes. Maintaining promotions and loyalty scheme will help appeal to value driven consumers. However, overall the environment is expected to become more hospitable over the next 5 years as the economy begins to gain momentum and the growing middle class look to enjoy themselves.

The report “South Africa – The Future of Foodservice to 2021” provides extensive insight and analysis of South Africa’s Foodservice market over the next five years (2015-2020) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following –
– Overview of South Africa’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the South African foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
– Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, Coffee & Tea Shops, Pubs, Clubs and Bars) within the South African foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
– Customer segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the South African population.
– Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
– Case Studies: Learn from examples of recent successes and failures within the South African foodservice market.

Companies mentioned in this report: Col’Cacchio, Debonairs Pizza, Doppio Zero, Famous Brands, Gold Brands, KFC, McDonald’s Corporation, Mugg & Bean, Nando’s, RocoMamas, Seattle Coffee Co., Spur Corporation, Steers, Taste Holdings, Vida e Caffe, Wiesenhof Coffee, Wimpy, Yum! Brands.

Scope

– Consumers are reporting caution concerning their futures, helping to drive growth in the already successful QSR channel. The arrival of fast-casual formats and brands is helping to drive this, creating a higher end destination for the young population.
– Social and economic divides continue to play an important role in the foodservice market, with distinct consumer trends apparant between them.
– The success of loyalty schemes, promotions and offers will continue to drive growth in chains across all channels in the growing economy. However, inflation will put continued pressure on the lower classes, while also encourage the use of local ingredients.

Reasons to buy

– Specific forecasts of the South African foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
– Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea shops, Pubs, Clubs and Bars) will allow readers understand the wants and needs of their target demographics.
– Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the South African foodservice market.

Filed in: Food & Beverage
Publisher : GlobalData
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