Hungary Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Hungary Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Summary

“Hungary Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the Hungarian Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.

Hungary registered nominal GDP per capita growth of 20.6% in 2022. Consumer price inflation reached 14.5% in 2022, increasing from 5.1% in 2021. The unemployment rate stood at 3.6% in 2022. The male labor force participation rate, which was 81.9% in 2022, continued to be higher than the female labor force participation rate, which stood at 72.4%. The Hungarian profit sector’s revenue reached HUF1,847.1 billion ($5 billion) in 2022, showing growth at a compound annual growth rate (CAGR) of 4.2% from 2017-22. However, inflation and declining consumer confidence were observed due to high food prices and weak Hungarian Forint, which negatively impacted the profit sector growth.

The report includes -

• Overview of Hungary's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Hungarian 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 shop, and pub, club & bar) within the Hungarian 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 Hungarian population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

• The Hungarian profit sector’s revenue reached HUF1,847.1 billion ($5 billion) in 2022, showing growth at a compound annual growth rate (CAGR) of 4.2% from 2017-22.
• The Hungarian hotel industry is attracting a lot of foreign direct investments which will support the growth of the profit sector.
• QSR was the second-largest channel in the Hungarian foodservice profit sector in 2022. FSRs appeal to consumers aged 16-24 years more so than older individuals.
• Incorporating healthy items in menus, along with high-quality ingredients, is crucial for QSRs to meet consumer demand. QSR was popular among budget-conscious consumers due to its affordable offerings.
• Consumers prefer low-cost menu items because they are influenced by the products’ alignment with their time and money constraints. QSR operators should prioritize offering affordable products to meet these consumers’ needs.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022-27) 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 shop, and pub, club & bar) will allow readers understand the wants and needs of their target demographics.