Hong Kong - The Future of Foodservice to 2029
Summary
This report provides an in-depth evaluation of the Hong Kong foodservice market, including analysis of the key issues impacting on the industry. This report includes: - Consumer insight and analysis to provide a clear view of prevailing need states, trends and demands of consumers, including segmentation analysis and channel preference, all fully supported by comprehensive market data and occasions and locations analytics. - In-depth analysis of channel performance, both profit and cost sector, detailing the winning formats, with supporting analysis to provide comprehensive understanding of the reasons behind success and failure. - For each of four key profit sector channels - QSR, FSR, coffee & tea shops and pubs, clubs & bars, a deep dive into the ‘who’, ‘why’, ‘what’, ‘where’ and ‘what next’. - Analysis of major market player performance, and how each player is meeting the needs of consumers and dealing with changing market demands, with supporting case studies on key menu, service and format innovations.
The foodservice profit sector generated revenue of HKD138.2 billion ($17.7 billion) value in 2024, declining at a negative CAGR of 1.4% during 2019-24. Outlet count increased modestly during the period; however, the number of transactions registered a drop.
FSR was the largest channel in Hong Kong in 2024, accounting for a 61.4% share of total sales, followed by QSR with 23.5%. Owing to convenient and inexpensive offerings, the QSR channel recorded value growth during 2019-24, while FSR, coffee & tea shop, and pub, club & bar channels registered declines during the period.
During 2024-29, the profit sector in Hong Kong will register a value CAGR of 6.7%. The number of transactions will register a CAGR of 4.5%, and the number of outlets will post a CAGR of 0.5%. The pub, club & bar channel is expected to register the highest value CAGR during 2024-29, at 12.1%.
Scope
Macro context -
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