Benelux Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Benelux foodservice market is projected to register a CAGR of 8.23% during the forecast period, 2022-2027.
Consumers' inclination toward convenient and on-the-go food options is the key attribute driving the growth of the foodservice market across the region. Additionally, changing dietary patterns and the increasing influence of international cuisines on food habits are likely to drive consumer spending on out-of-home food consumption. The popularity of hot-pot cuisines and the increasing demand for western-style fast food have led to the rapid expansion of the market studied. Moreover, the market is being driven by factors such as the increasing inbound tourists, the growing percentage of the young and working population, and the availability of organized fast-food chain restaurants offering quality food and services.
In the medium term, the busy lifestyles of consumers are anticipated to foster the takeaway and home delivery trends, which is leading to the growth of innovative food service outlets. In addition, the expansion of internet infrastructure and online payment ecosystem is enabling the development of cloud-kitchen services in region.
Key Market TrendsStrategic Expansion by International Fast-Food ChainsConsumers maintain strong attention to new international food and consumption trends as their exposure to foreign food cultures expands. Due to the rapid economic expansion across the countries, many foreign operators are entering the foodservice sector of Benelux. For instance, in 2021, Costa Coffee Europe’s largest coffee chain entered the Belgian market, introducing a premium self-service coffee concept designed for hospitality venues.
In recent years, international fast-food restaurants have been marked by large-scale growth across the region due to increasing western influence that gave rise to fast food culture in the region, which is anticipated to undergo further growth over the coming years. Also, fast-food brands understand the needs of local customers and, especially, the culinary culture of key countries in order to design the right menu that reflects a balance between international cuisine and local tastes. Therefore, owing to this factor, various fast-food companies are making efforts to expand their product portfolio. For instance, in 2021, Dominos introduced the Cal’z sandwich in Belgium. Domino’s Pizza’s Cal’z is a variant of the popular Pizza Calzone.
Belgium is the Fastest Growing MarketThe rapid growth of the fast-food sector in the country has led to an expansion of more food chains in the fast-food sector, thus, benefitting the overall market studied. This growth of the sector can be attributed to factors, such as convenience and availability of foods at lower costs, which are expected in independent full-service restaurants. Moreover, the market is primarily driven by the increasing frequency of dining out amid time-pressed schedules, the increasing prevalence of tourists, and the rising influence of cross-culture dietary patterns due to the strong presence of international restaurant chains.
The tourism industry remains one of the strongest industries in the country, and it is an important component of the foodservice sector. Furthermore, favorable government initiatives are being conducted with the aim to increase the tourism rate. This, in turn, may benefit the foodservice industry
Competitive LandscapeThe market is highly competitive with the presence of key players such as Domino's Pizza, Yum Brands Inc, Starbucks Corporation, Restaurant Brands International Inc, BC FOODS BV, and Dea's Pizza, among others. To give stiff competition to the market players, various restaurants are launching innovative dishes or customized dishes as per the customer requirements, which, in turn, are helping the companies to get a bid in the food service market share. Over the past few years, certain players like KFC have been expanding their geographical presence across the region by consistently opening new restaurants as a part of their strategic expansion.
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