Restaurant and mobile food service revenue in the United Kingdom (UK) 2008-2020
Number of outlets on the rise
The dining out industry underwent a period of growth up until 2019. The increase in turnover was matched by an increase in the number of restaurant and mobile food businesses. Similarly, other food-led premises such as branded food pubs experienced growth. Over a five-year period between 2014 and 2019, branded food pubs increased by 14.6 percent. Household spending on food services trended down in 2020, however, due to the coronavirus (COVID-19) pandemic.
An end to the restaurant rise?
Despite its growth, the restaurant market in the UK continues to face challenges that have already begun to affect businesses. Between 2018 and 2019, the restaurant sector experienced closures across different types of food and drink premises, signaling a slowdown for the market. Industry experts however remain positive, suggesting that consumer demand is still high, and Brits’ fast changing tastes in food trends mean that there are yet more opportunities to be explored.