Hyderabad, Andhra Pradesh -- (SBWire) -- 06/15/2012 --ReportReserve announces the inclusion of its new report in Food,Beverages & Tobacco Industry.
“Hungarian Foodservice: The Future of Foodservice in Hungary to 2016” provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Hungarian foodservice value chain, and for new companies considering entering the market.
Introduction and Landscape
Why was the report written?
This report is the result of Canadean’s extensive market and company research covering the Hungarian foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, and Hungary’s business environment and landscape.
What is the current market landscape and what is changing?
Like other countries the foodservice industry in Hungary suffered a decline in sales due to the global financial crisis. However, the foodservice industry is expected to grow in future due to the increasing shift towards smaller households and the rising popularity of eating out-of-home.
What are the key drivers behind recent market changes?
The advent of the economic crisis in 2008 led to a decline in consumer confidence in Hungary, which in turn led to reluctance on the part of consumers to spend on foodservices, which resulted in a decline in sales during 2009. However, foodservice industry sales recovered in 2010 due to an increase in disposable income, rising female workforce, and growing preference for eating out-of-home.
What makes this report unique and essential to read?
“Hungarian Foodservice: The Future of Foodservice in Hungary to 2016” provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Hungarian foodservice value chain, and for new companies considering entering the market.
Key Features and Benefits
This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector in Hungary.
This report provides readers with in depth data on the valuation and development of both the Profit and Cost sectors in the Hungarian foodservice market.
This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet and transactions per outlet per week across nearly 50 sub-channels.
This report provides highly granular future forecasts and historic market data to aid market and strategic planning.
This report will help you to assess the impact of economic recession and recovery on foodservice market growth.
Key Market Issues
GDP growth and a rise in disposable income have been major factors for the growth of the Hungarian foodservice industry, and this trend is expected to support the industry in the forecast period. The economy suffered a decline in GDP and disposable incomes during the global financial crisis, and consumers decreased spending on foodservice outlets, which continued until 2010. However, as the economy has started recovering, consumer confidence has increased; resulting in more transactions in foodservice outlets.
Rising unemployment in the country due to the economic recession resulted in declining demand for foodservice. Due to high meal prices, full service restaurants were the worst affected.
An aging population is fuelling demand for healthy, nutritious, and organic food in Hungary, as the elderly population is more susceptible to lifestyle related disorders. Many foodservice operators have already included, or are in the process of including, healthy and nutritious menus in both the full-service and fast-food and snack formats.
The number of households in Hungary increased from 4.02 million in 2006 to 4.05 million in 2011. This is mainly due to an increase in the number of single person households.In recent years, Hungary has also witnessed a rise in the number of working women.These demographic developments have resulted in fast paced lifestyles and increasing demand for time saving food options.
More and more Hungarian consumers are opening up to experience the flavors of international cuisines. Italian, Chinese, and Greek cuisines are the most favored among Hungarians. These are followed by Mexican, French, and Indian cuisines.
Key Highlights
Rising internet penetration has led to the development of various websites such as caboodle.hu,which provides names, reviews, and contact details of restaurants, bars, and nightclubs. Diners can select restaurants on the basis of cuisine type and location.
Mobile phone penetration has increased andthis has led to the launching of several user-friendly smartphone applications.
Hungarian foodservice operators are adopting the latest technology and gadgets to reduce operating costs and make their service more convenient, informative, and exciting.
Hungarian consumers are demanding healthy and nutritious food due to increasing health awareness among the population. This has pressured the foodservice operators into including healthy food products such as salads, vegetables, and fruit in the menu.
Due to the increasing number of vegetarians and health conscious consumers in Hungary, foodservice operators have started including vegetarian, organic, and gluten-free food items in their menus."
for further information visit http://www.reportreserve.com/report/hungarian-foodservice-the-future-of-foodservice-in-hungary-to-2016-report-540932
Hungarian Foodservice: the Future of Foodservice in Hungary to 2016